Antibiotics Market to Reach USD 39.06 Billion by 2027; Surging Cases of Bacterial Infections to Incite Development, states Fortune Business Insights™
Pune, India, Jan. 25, 2022 (GLOBE NEWSWIRE) -- The global Antibiotics Market size is expected to reach USD 39.06 billion in 2027 at a CAGR of 2.1% during the forecast period. The increasing R&D for the development of antimicrobials in multidrug-resistant bacteria is expected to have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Antibiotics Market Size, Share & Industry Analysis, By Drug Class (Cephalosporin, Penicillins, Fluoroquinolones, Macrolides, and Others), By Route of Administration (Oral and Parenteral) By End User (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The market size stood at USD 43.30 billion in 2019.
The report on the antibiotics market discloses:
Eminent insights into the industry
Important data with in-depth research
Factors exhibiting market growth
Comprehensive study about main regions
COVID-19 impact on the market
Prime developments in the industry
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Increasing Cases of Bacterial Infections to Boost Market
The increasing cases of bacterial infections will spur demand for antimicrobials, which, in turn, will augur well for the market. The rising incidence of tuberculosis, malaria, pneumonia, bacterial skin infections, urinary tract infections (UTI), and others will bolster the market's healthy growth during the forecast period. As per the estimates of WHO, the worldwide prevalence of tuberculosis was 10 million in 2019.
According to the Centers for Disease Control and Prevention, 1.7 million HAIs occur every year in the U.S., 32% of which are hospital-acquired UTIs. The increasing government efforts to prevent hospital-acquired infections (HAI), catheter, and ventilator-associated infections will create lucrative opportunities for the market in the forthcoming years.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/antibiotics-market-104583
Adoption of Digital Health Technologies to Promote Growth Amid Coronavirus
The declined patient volume in standalone clinics and hospitals has forced doctors to adopt digital health technologies to sustain their business. Pharmaceuticals and medical devices companies have incurred huge losses due to the economic crisis caused by the pandemic. Moreover, dopped sales observed by key manufacturers can simultaneously dampen the growth of the market. For instance, nine months of Pfizer’s Zithromax sales decreased by 14.2% in 2020 compared to 2019. Similarly, Cubicin, manufactured by Merck & Co., Inc., witnessed a decline of 44.0% in sale during nine months of 2020 as compared to the previous year
Substantial R&D Investments by Major Companies to Consolidate Business
Prominent companies such as Merck & Co., Inc, Sandoz, Taisho Pharmaceutical Holdings, Daiichi Sankyo Company, Limited are investing in R&D to strengthen their position in the industry. Moreover, the increasing approvals for innovative therapies by the FDA can spur lucrative opportunities for the market. For instance, in August 2019, TB Alliance, a non-profit organization, received FDA approval for Pretomanid, as part of combination therapy with linezolid and bedaquiline to treat TB.
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Heavy Demand for Antibiotics to Contribute Growth in Asia Pacific
The market in Asia Pacific is expected to hold the largest share during the forecast period due to the high consumption of antibiotics. According to an article published in the journal Proceedings of the National Academy of Sciences of the United States of America (PNAS), China, India, and Pakistan witnessed a rise of 103%, 79%, and 69%, respectively, in antibiotic consumption during 2000-2015. The growing prevalence of bacterial infections coupled with the high use of antimicrobials will spur lucrative opportunities for the Asia Pacific market.
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The Report Lists the Key Players in the Antibiotics Market:
Pfizer Inc. (New York, U.S.)
GlaxoSmithKline plc (Brentford, U.K.)
Merck & Co., Inc. (New Jersey, U.S.)
Sandoz (Novartis AG) (Holzkirchen, Germany)
Daiichi Sankyo Company, Limited (Tokyo, Japan)
Taisho Pharmaceutical Holdings (Tokyo, Japan)
Melinta Therapeutics (New Jersey, U.S.)
Other Prominent Players
Table of Content
Definitions and Assumptions
Prevalence of Key Bacterial Infections– For Key Countries/ Regions
Antimicrobial Resistance Statistics – For Key Countries/ Regions
New Product Launches
Key Industry Developments – Partnerships, Mergers, & Acquisitions
Impact of COVID-19 Pandemic on Antibiotics Market
Global Antibiotics Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Drug Class
Market Analysis, Insights and Forecast – By Route of Administration
Market Analysis, Insights and Forecast – By Distribution Channel
Market Analysis, Insights and Forecast – By Region
Middle East & Africa
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