Pune, India, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Global Antibiotics Market Size was valued at USD 37.35 billion in 2020 and is projected to USD 45.30 billion by 2028 exhibiting a CAGR of 2.5% during the forecast period. Key Players Focus on Expansion Strategies and Joint Ventures to Compete the Market, Increasing Cases of Urinary Tract Infection to Drive Growth.
The global antibiotics market is set to gain impetus from the rising development of novel combination therapies by biopharmaceutical companies, mainly because of the surging awareness of antibiotic-resistant infections. Allecra Therapeutics GmbH, for instance, is currently developing cefepime/enmetazobactam for treating complex resistance issues.
This information is provided by Fortune Business Insights™ in its research report titled Antibiotics Market, 2021-2028.
Key Industry Development-
- May 2021: Sandoz announced its plan to expand production capabilities of antibiotics in Palafolls and Kundl. It aims to enhance its ability to provide premium-quality medications to patients, while remaining competitive in terms of cost in the industry.
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Key Takeaways –
- Antibiotics Market size in North America was USD 16.81 billion in 2020
- Rising Prevalence of Bacterial Infections to Propel the Market Growth
- Increasing antibiotic use worldwide, especially in developing countries, is expected to boost product adoption.
- The penicillin segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Pfizer Inc. (New York, U.S.)
- Abbott (Illinois, U.S.)
- GlaxoSmithKline plc. (London, U.K.)
- Sanofi (Paris, France)
- Novartis AG (Basel, Switzerland)
- Bayer AG (Leverkusen, Germany)
- Bristol-Myers Squibb Company (New York City, U.S.)
- Merck & Co., Inc. (Kenilworth, U.S.)
- Astellas Pharma Inc. (Tokyo, Japan)
- Johnson &Johnson Services, Inc. (Janssen Pharmaceuticals, Inc.) (New Brunswick, U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 2.5% |
| 2028 Value Projection | USD 45.30 Billion |
| Base Year | 2020 |
| Antibiotics Market Size in 2020 | USD 37.35 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 166 |
| Segments covered | By Drug Class, Application, Route of Administration, Distribution Channel and Geography |
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Drivers & Restraints:
Increasing Cases of Urinary Tract Infection to Drive Growth
The rising prevalence of multiple bacterial infections, such as skin infections, Urinary Tract Infection (UTI), tuberculosis, and respiratory infections worldwide is set to propel the antibiotics market growth in the near future. At the same time, the increasing burden of bacterial infections is anticipated to be the most common cause of death by 2050. As per the World Health Organization, around 50% of women have suffered from UTI at some point of their lives. However, the extended usage of broad-spectrum antibiotics can often cause antimicrobial resistance (AMR). It may hamper their demand.
Segmentation:
By Drugs Class
- Penicillin
- Cephalosporin
- Aminoglycosides
- Tetracycline
- Macrolides
- Fluoroquinolones
- Sulfonamides
- Others
By Application
- Skin Infections
- Respiratory Infections
- Urinary Tract Infections
- Septicemia
- Ear Infection
- Gastrointestinal Infections
- Others
By Route of Administration
- Oral
- Parenteral
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Regional Insights:
North America to Dominate Stoked by Development of New Antibiotics
Geographically, in 2020, North America procured USD 16.81 billion in terms of revenue. It is set to remain at the forefront throughout the forthcoming years on account of the introduction of various new drugs by prominent companies present in this region. Merck & Co., Inc., for instance, bagged the U.S. FDA approval for DIFICID (fidaxomicin). It will be used to treat Clostridioides Difficile-associated Diarrhea (CDAD) only in children belonging to the age group of six months and older. On the other hand, Europe is likely to remain in the second position because of the rapid development of the healthcare infrastructure in developed countries.
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Competitive Landscape:
Key Players Focus on Expansion Strategies and Joint Ventures to Compete in the Market
The global market contains a large number of companies that are currently focusing on engaging in joint ventures or expanding their production capacities to gain a competitive edge. A few others are also striving to bag FDA approval for their newly developed drugs.
FAQs
How big is the Antibiotics Market?
Antibiotics Market size was USD 37.35 billion in 2020. It is expected to reach USD 45.30 billion in 2028.
How fast is the Antibiotics Market growing?
The Antibiotics Market will exhibit a CAGR of 2.5% during the forecast period, 2021-2028.
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