New York, USA, April 13, 2022 (GLOBE NEWSWIRE) — According to a report by Research Dive, the global antibiotic market should bring in an income of $58,798.1 million and post a CAGR of 4.0% by 2027, growing from $43,298.5 million in 2019. The inclusive report provides a brief overview of the current market scenario including significant aspects of the market from growth factors, challenges, other market dynamics, restraints, and various opportunities during the forecast period. The report also provides all market figures which makes it easy and helpful for new entrants to understand the market.
Market dynamics and opportunities
The global antibiotic industry is driven primarily by product innovations for the treatment of serious bacterial infections. Another factor promoting the growth of the industry is the increasing prevalence of infectious diseases such as pneumonia, HIV/AIDS, tuberculosis, malaria, etc.
Development of antibiotic resistance, especially in the case of bacterial infections, is one of the major restraining factors that is expected to hamper the market growth over the forecast period.
Huge investments in R&D activities by biotechnology companies, availability and adoption of generic drugs, discovery of advanced molecules and increasing expenditure in healthcare institutions are expected to create great opportunities for the global market antibiotics.
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Impact of Covid-19 on the Antibiotics Market
The COVID-19 outbreak has driven positive growth in the global antibiotics market. In 2020, the consumption of antibiotics increased dramatically as they were used in large quantities to prevent prolonged illness and longer hospital stays as the pandemic took its toll. For example, according to data published by the World Dental Federation FDI (International Dental Federation) in November 2020, there is a sharp increase in antibiotics being prescribed to dental patients in England, amid the COVID-19 outbreak.
Key market segments
The report has categorized the market into different segments based on drug class, spectrum and region.
The fluoroquinolones segment will be the most lucrative
According to the report, the fluoroquinolone drug class is expected to grow at a notable CAGR of 5.2% and is expected to register revenue of $10,143.1 million by 2027, up from $6,823.1 million. in 2019. Fluoroquinolones are highly effective antibiotics with multiple beneficial pharmacokinetic properties. such as a large volume of distribution and broad-spectrum antimicrobial activity. Additionally, new product innovations and their government approvals are an estimated key factor to fuel the market growth of the sub-segment.
Broad spectrum segment will have the largest market share
The Broad-Spectrum Antibiotics sub-segment is expected to exceed $52,366.7 million by 2027. Rising prevalence of infectious diseases, major development of innovative antibiotics, and drastic increase in healthcare expenditures in countries like India, Brazil and Singapore are among the major factors fueling the growth of the sub-segment, during the forecast period.
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North America will lead with the highest market share
The North America Antibiotics Facilities Market was worth $15,132.8 million in 2019 and is expected to generate a revenue of $19,950.2 million by the end of 2027. Prescribed antibiotics along with stringent government and industry regulations for business processes are some of the factors estimated to propel the growth of the antibiotics market in the region.
Main actors and strategies
According to the report, key players of the global Antibiotics market include
- Merck KGaA
- Bristol-Myers Squibb Company
- Janssen Global Services
- GlaxoSmithKline plc.
- Novartis AG
- Bayer AG
- Eli Lilly and company
- Astellas Pharma Inc.
These players are currently focusing on R&D activities, mergers, acquisitions, partnerships, and collaborations to support the growth of the market.
For example, in January 2018, Melinta Therapeutics, an American company, launched Baxdela (delafloxacin), which is an oral antibiotic for the treatment of bacterial skin structure infections and acute bacterial skin and skin structure infections (ABSSSI) .
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