Global Antibiotics Market Valuation Will Hit $57.88 Billion

0

Westford, USA, Oct. 12, 2022 (GLOBE NEWSWIRE) — The growing demand for antibiotics market is driven by the continued emergence of new pathogens and the development of resistance to existing drugs. As the number of people infected with antibiotic-resistant bacteria increases, so does the number of deaths from these infections. In addition, the use of antibiotics in agriculture contributes to the development of resistance in pathogenic bacteria. The World Health Organization (WHO) estimates that each year these infections cause the death of more than 700,000 people worldwide.

A number of factors are contributing to the growing demand for the antibiotics market. First, the continued emergence of new pathogens necessitates the development of new drugs to treat them. Second, the growing incidence of antibiotic resistance means that existing drugs are becoming less effective. Finally, the widespread use of antibiotics in agriculture leads to the development of resistance in pathogenic bacteria.

Get a sample copy of this report:

https://skyquestt.com/sample-request/antibiotics-market

The trend of increasing demand for antibiotics threatens to overwhelm our ability to develop new drugs. This underscores the need for better stewardship of existing antibiotics and more judicious use of these important drugs.

There is a growing need for new and effective antibiotics. Unfortunately, the development of new antibiotics has slowed in recent years in the global antibiotic market. This is due to a number of factors, including the high cost of research and development and the lack of incentives for pharmaceutical companies to invest in this area. The result is a situation where the demand for antibiotics exceeds the supply. This is particularly evident in low- and middle-income countries, where access to these life-saving medicines is often limited. In some cases, patients are forced to resort to purchasing antibiotics from unregulated sources, such as street vendors, which further contributes to the problem of antimicrobial resistance.

SkyQuest analysts say innovation and development of new drug formulation takes an hour

SkyQuest recently published a report on the global antibiotics market, highlighting both the challenges and opportunities that exist in the sector. The report notes that antibiotics are essential for treating infections and protecting public health, but warns that the overuse and abuse of these drugs is driving a global antibiotic resistance crisis.

This is a particular problem in low- and middle-income countries, where people may not be able to afford these lifesaving drugs. Finally, the report highlights the need for continued research and development of new antibiotics, as current drug classes are becoming increasingly ineffective against bacteria.

The study calls for greater emphasis on innovation within the antibiotic market to develop new and more effective drugs. It also recommends measures to improve access to existing antibiotics, as well as better management of these life-saving drugs. Our study urges all stakeholders – from governments to the private sector – to work together to address this growing threat to global health.

Expiration of key antibiotic patents and entry of generic players are expected to restrain the growth of the antibiotics market over the forecast period. Rise in antibiotic resistance is another factor that is expected to hamper the market growth over the forecast period.

SkyQuest’s analysis shows that antibiotic companies will need to focus on developing combination therapies and new formulations of existing drugs to fight resistance and meet patient needs. Companies will also need to invest in digital health solutions to improve patient outcomes and reduce costs.

Browse the report summary and full table of contents (ToC):

https://skyquestt.com/report/antibiotics-market

Leading players are losing market share to competitors

The global antibiotics market is highly competitive and fragmented, according to a new report from Skyquest. The report, which surveyed more than 100 industry-leading business executives, found that nearly 60% of respondents believe their company is losing market share to competitors.

We attribute this high level of competition to the large number of smaller players in the market. “The antibiotics market is one of the most fragmented industries we have studied,” said Swarnima Aeri, SkyQuest’s head of healthcare practices. “With more than 1,000 companies globally vying for market share, it’s no wonder executives feel pressured.

The report also revealed that there are very few new antibiotics in development. Of the 582 drugs in clinical trials, only 16 (2.8%) are intended for the treatment of bacterial infections. This low figure is indicative of the challenges the industry faces in the development of new antibiotics.

With more than 400 companies active in R&D and multiple therapeutic classes. The study notes that there is currently no clear market leader and the industry is characterized by many small companies and a few large pharmaceutical companies. The top 25 companies in the antibiotics market hold just over 20% of the total market share. The rest of the market is very fragmented, with many small and medium-sized companies competing for market share. The report also revealed that the antibiotic industry faces significant challenges, including rising costs, difficult regulatory environments and declining efficacy of existing drugs. Additionally, there is a lack of innovation in the industry, with few new classes of antibiotics being developed in recent years.

Despite the challenges posed by fragmentation, the antibiotics market is expected to witness significant growth in the coming years. The report projects that sales will reach $57.88 billion by 2028, up from $42.53 billion in 2021.

Speak to the analyst for your custom needs:

https://skyquestt.com/speak-with-analyst/antibiotics-market

Key Players of the Global Antibiotics Market

Merck & Co., Inc.

Allergan plc (AbbVie)

GlaxoSmithKline plc.

Pfizer Inc.

Therapeutic Melinta

Basilea Pharmaceutica Ltd.

Tetraphase Pharmaceuticals

Paratek Pharmaceuticals, Inc.

Nabriva Therapeutics plc

Spero Therapeutic

Related Reports in the SkyQuest Library:

Global Blood Collection Tube Market

Global flu vaccine market

Global Silicone Foley Catheters Market

Global Urinary Catheter Market

Global Central Nervous System Treatment Market

About Us:

SkyQuest Technology is a leading growth consulting firm providing market intelligence, marketing and technology services. It has more than 450 satisfied customers worldwide.

Address:

1 Apache Way, Westford, Massachusetts 01886

Call:

USA (+1) 617-230-0741

E-mail: [email protected]

LinkedIn Facebook Twitter

Share.

About Author

Comments are closed.