Global Antibiotics Market to Grow at a Fascinating CAGR of 4.0% in the 2020-2027 Timeframe [234-Pages] | Interpreted by Research Dive
The global antibiotics market is expected to grow primarily due to the supportive government policies for the development of new drugs. The market in the Asia-Pacific region is predicted to grow at a high CAGR by 2027
NEW YORK, April 27, 2023 /PRNewswire/ -- Global Antibiotics Market Forecast Analysis:
As per the report published by Research Dive, the global antibiotics market is expected to register a revenue of $58,798.1 million by 2027 at a CAGR of 4.0% during the forecast period 2020–2027.
Segments of the Antibiotics Market
The report has divided the antibiotics market into the following segments:
- Drug Class: cephalosporins, penicillin, fluoroquinolones, macrolide, carbapenems, aminoglycosides, sulphonamide, and others
- Fluoroquinolones – Expected to register a revenue of $10,143.1 million by 2027
The antibiotic is very efficient against acute bacterial skin and skin structure infections (ABSSSI), especially in adults. This is expected to push the growth of this sub-segment further.
- Spectrum: broad-spectrum and narrow-spectrum
- Broad-Spectrum– Expected to surpass $52,366.7 million by 2027
With the increasing occurrence of infectious diseases, novel antibiotics are being developed on a large scale, and healthcare spending is skyrocketing in places like Brazil, India, and Singapore, which are expected to augment the growth rate of the market in the 2020–2027 timeframe.
- Region: North America, Europe, Asia-Pacific, and LAMEA
- Asia-Pacific – Generating revenue of $19,932.6 million by 2027
Antibiotic development strategies supported by the government are predicted to propel the market in the forecast period.
Dynamics of the Global Antibiotics Market
The rising occurrence of infectious diseases such as HIV/AIDS, pneumonia, malaria, and tuberculosis is expected to make the antibiotics market a highly profitable one in the forecast period. Additionally, the enormous R&D expenditures undertaken by biotech corporations, the identification of novel compounds, the accessibility and widespread use of generic medications, and the rising costs of healthcare facilities are predicted to propel the market forward. However, the formation of antibiotic resistance, especially when bacterial infections are involved, might become a restraint in the growth of the market.
The novel product improvements for the treatment of severe bacterial infections, together with several clinical trials, are predicted to offer numerous growth opportunities to the market in the forecast period. Furthermore, the increasing use of cutting-edge computing techniques for antibiotic research is expected to propel the antibiotic market forward in the near future.
COVID-19 Impact on the Global Antibiotics Market
The COVID-19 pandemic disrupted people's routines all over the world, and the subsequent lockdowns had a negative impact on industrial processes in all sectors. The novel coronavirus pandemic, on the other hand, has had a positive impact on the global antibiotics market. During the pandemic, the need to prevent prolonged illnesses and longer hospital stays resulted in an extraordinary increase in antibiotic usage in recent months. As a result, the pandemic raised the need for antibiotics, which benefited the worldwide antibiotics market.
Key Players of the Global Antibiotics Market
The major players of the market include
- Merck KGaA
- Bristol-Myers Squibb Company LLC
- GlaxoSmithKline plc.
- Janssen Global Services
- Novartis AG
- Eli Lilly and Company.
- Bayer AG
- Astellas Pharma Inc.
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in January 2023, Alkem Laboratories, an international pharmaceutical corporation with its headquarters in Mumbai, introduced an innovative antibiotic combination for drug-resistant diseases. The antibiotic, which contains both avibactam and ceftazidime, will be marketed under the name Zidavi.
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Antibiotics Market:
- 10 Classes of Antibiotics You Should be Aware About
- Upsurge in the Consumption of Antibiotics during the Covid-19 Pandemic to Boost the Global Antibiotics Market Growth by 2027
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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