Portland, OR, March 31, 2021 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “European Antibiotics Market by Drug Class (Beta Lactam & Beta Lactamase, Quinolones, Macrolides, and Others), Drug Origin (Natural, Semisynthetic, and Synthetic), Spectrum of Activity (Broad-spectrum Antibiotic and Narrow-spectrum Antibiotic), and Route of Administration (Oral, Intravenous, and Others): Opportunity Analysis and Industry Forecast, 2019–2027”. As per the report, the European antibiotic industry was accounted for $11.56 billion by 2019, and is estimated to reach $13.52 billion by 2027, growing at a CAGR of 1.9% from 2020 to 2027.
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Major determinants of the market growth
Increase in prevalence of infectious diseases and development of novel approaches for new antibiotics for treating bacterial infections have boosted the growth of the European antibiotic market. However, development of antibiotic resistance and significantly long time taken for regulatory approval hinder the market growth. On the contrary, advent of advanced prospect molecules and combination therapies to treat antibiotic-resistance microbial infections would open lucrative opportunities for the market players in the future.
Covid-19 scenario:
- The Covid-19 pandemic is estimated to open opportunities for the European antibiotic industry as the demand for antibiotics has increased over the last few months.
- The administration of antibiotics was reported in the case of neonate with non-specific symptoms of Covid-19 infection. Moreover, several sick patients were administered antibacterial therapy including ceftriaxone, moxifloxacin, and azithromycin.
The beta lactam and beta lactamase inhibitors segment held the lion’s share
By drug class, the beta lactam and beta lactamase inhibitors segment dominated the market in terms of revenue in 2019, accounting for more than half of the European antibiotic market. This is due to its spectrum of activity. However, the quinolone segment is estimated to portray the highest CAGR of 4.9% during the forecast period, owing to rise in demand for broad-spectrum bactericidal activity new generation quinolones, excellent oral bioavailability, good tissue penetration, and better safety & tolerability.
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The broad-spectrum antibiotic segment to manifest the highest CAGR through 2027
By spectrum of activity, the broad-spectrum antibiotic segment is expected to register the highest CAGR of 2.5% during the forecast period. Moreover, the segment held the lion’s share in 2019, contributing to around three-fourths of the European antibiotic market, as it can act against wide range of bacterial infections including gram-positive and gram-negative.
France held the largest share
By region, the market across France held the largest share in 2019, accounting for more than one-tenth of the market, due to presence of no legislation on obtaining antibiotics without prescription as well as low prices of antibiotics. However, the European antibiotic market across the UK is estimated to register the highest CAGR of 3.1% during the forecast period.
Major market players
- Bayer AG
- Abbott Laboratories
- Abbvie Inc. (Allergan Plc.)
- GlaxoSmithKline plc
- F. Hoffmann-La Roche Ltd.
- Viatris Inc.
- Merck & Co. Inc.
- Pfizer Inc.
- Novartis International AG (Sandoz)
- Sanofi
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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