Albany, NY, Jan. 16, 2018 (GLOBE NEWSWIRE) -- The global antibacterial drugs market stood at US$45,325.0 million in 2016 and is projected to reach a valuation of US$51,447.6 million by the end of the forecast period. The market is anticipated to rise at a CAGR of 1.5% from 2017 to 2025.
Emerging Multidrug-Resistant Organisms Causing Infectious Ailments to Bolster Demand
The rising incidence of infectious diseases in various parts of the world and the notably emerging bacterial strains that are resistant to multidrug formulations are the key factors driving the demand for antibacterial drugs. The pressing need for efficacious antibacterial drugs that are affordable to large masses in various populations is a notable factor boosting the market. A burgeoning geriatric population, especially in developing and developed nations, is a noteworthy trend adding to the growth of the market. Recent technological advancements in innovative formulations are expected to accentuate the growth of the antibacterial drugs market. The significantly growing demand for novel therapies for multidrug-resistant bacterial strains world over is expected to stoke the demand for antibacterial drugs.
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Furthermore, recent advances made in enteral routes of administration in various developing and developed regions are expected to bolster the uptake of antibacterial drugs.
The various distribution channels adopted for the sales and marketing of antibacterial drugs are drug stores and retail pharmacies, hospital pharmacies, and online sales. Of these, drug stores and retail pharmacies held the major market share in 2016 and is projected to rise at a substantial growth rate over the forecast period of 2017–2025. The growth is likely to be fueled by the rapidly increasing number of retail stores in various regions.
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Geographically, North America accounted for the leading share in the global market in 2016 and is projected to rise at a promising growth rate in the coming years. However, Europe is predicted to expand at a higher rate during the forecast period. The substantial growth is driven by constant research and development of antibacterial drugs and the launch of novel formulations in various countries of the region.
Relentless Research into Novel Therapies with Advanced Action to open Promising Prospects
However, a growing number of patent expiring in several developing and developed nations in the coming years is a crucial trend expected to hinder the growth of the market to an extent.
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Nevertheless, recent research into the efficacy and the action of antibacterial therapies have led to some innovative formulations. This bodes well for the overall market in the coming years. Several players are focusing on untapped medical opportunities in emerging nations, notable in Asia Pacific, which is expected to unlock promising prospects in the market. The vastly rising populations with infectious ailments is a notable factor expected to provide a robust fillip to the demand for antibacterial drugs in these regions. A rapidly improving healthcare infrastructures in emerging economies is also aiding in the expansion of the global antibacterial drugs market.
The growing initiatives by governments and private players related to the commercialization of therapies for drug-resistant infections are expected to catalyze the growth of the market over the assessment period.
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The global antibacterial drugs market features a fairly competitive landscape and leading players include Allergan, Plc., Novartis AG, Bristol Myers Squibb Company, Johnson and Johnson, AstraZeneca, Merck & Co., Inc., GlaxoSmithKline Plc. (GSK), Sanofi, Pfizer Inc., Bayer AG, notes Transparency Market Research (TMR). Over the years, the competition in the market is expected to intensify. A number of prominent players are focusing on entering into strategic collaborations and mulling partnerships with their rivals, in order to consolidate their shares in the coming years. They are also expanding their product portfolio and constantly moving into new geographic regions to gain a better foothold in the market.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.