New York, USA, Sept. 22, 2021 (GLOBE NEWSWIRE) -- A new report on the global antibiotics market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $58,798.1 million by 2027, rising at a CAGR of 4.0% from 2020 to 2027. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth
The key factor boosting the growth of the global antibiotics market is the surging cases of infectious diseases such as malaria, pneumonia, tuberculosis, HIV/AIDS, and others. Moreover, the rising investments in research & development activities by biotech companies, growing availability and rising acceptance for generic medicines, invention of advanced molecules, and growing expenditures in healthcare services are expected to unlock to profitable opportunities for the growth of the market during the forecast period. However, ambiguous government regulatory guidelines, widely growing drug approval charges, and presence of fewer companies functioning in active research are expected to hinder the market growth.
COVID-19 Pandemic Impact on the Market
The outbreak of COVID-19 pandemic in 2020 has had a positive impact on the growth of the global antibiotics market. The pandemic has boosted the consumption of antibiotics as people are becoming highly conscious about their health and taking proper medications to prevent diseases and longer hospital stays amidst the pandemic period. Thus, a significant rise in the demand for antibiotics drugs is boosting the market growth.
The report segments the global antibiotics market into drug class, spectrum, and region.
Fluoroquinolones Sub-Segment to Hold a Dominating Position
The fluoroquinolones sub-segment of the drug class segment is projected to hold a leading position in the market by garnering a revenue of $10,143.1 million in the forecast period. This is chiefly owing to the rising innovations in fluoroquinolones medicines and their approvals by governments.
Broad-Spectrum Antibiotics Sub-Segment to Experience Speedy Growth
The broad-spectrum antibiotics sub-segment of the spectrum segment is anticipated to grow significantly and garner a revenue of $52,366.7 million in the estimated period. The growth of this sub-segment is mainly owing to the growing occurrence of infectious ailments, increasing innovations in antibiotics, and growing expenditures on healthcare in nations such as Brazil, India, and Singapore.
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Asia-Pacific Region to Dominate the Global Market
The report analyzes the global antibiotics market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is estimated to lead the market by surpassing $19,932.6 million in forecast period. The growth of this region market is primarily due to the rise in the implementation of supportive strategies by government authorities for developing antibiotics in this region.
Key Market Players
The report lists some of the foremost players operating in the global antibiotics market are -
- Abbott.
- Sanofi
- Merck KGaA
- Bristol-Myers Squibb Company
- Janssen Global Services, LLC
- GlaxoSmithKline plc.
- Novartis AG
- Bayer AG
- Eli Lilly and Company.
- Astellas Pharma Inc.
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The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in November 2020, Merck & Co, a global research-intensive biopharmaceutical company, introduced its innovative antibiotic combination Recarbrio in the UK.
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