New York, USA, June 15, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global antibiotics market is envisioned to garner a revenue of $58,798.1 million by 2027 and grow at a CAGR of 4.0% during the estimated timeframe from 2020 to 2027.
With the growing prevalence of infectious diseases, such as tuberculosis, malaria, pneumonia, HIV/AIDS, and many more all across the globe, the antibiotics market is expected to experience alarming growth during the estimated timeframe. Besides, the rising investments in R&D activities by biotech companies and the huge massive adoption of generic medicines are further expected to bolster the growth of the market over the analysis time period. Furthermore, the increasing novel product innovations for the treatment of severe bacterial infections are predicted to fortify the growth of the market over the forecast period. However, the high initial investment and uncertain government regulatory policies may hinder the growth of the market throughout the analysis timeframe.
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Segments of the Antibiotics Market
The report has divided the market into segments based on drug class, spectrum, and region.
Drug Class: Fluoroquinolones Sub-segment to be Most Productive
The fluoroquinolones sub-segment is expected to garner a revenue of $10,143.1 million during the forecast time period. This is mainly because fluoroquinolones are extremely effective antibiotics with numerous beneficial pharmacokinetic properties. Moreover, the increasing novel product innovations and their government approvals are expected to propel the growth of the market sub-segment over the analysis period.
Spectrum: Broad-Spectrum Antibiotics Sub-Segment to be Most Lucrative
The broad-spectrum antibiotics sub-segment is expected to generate a revenue of $52,366.7 million and rise at a CAGR of 4.2% during the estimated timeframe. This is mainly due to the increasing healthcare expenditure in the developing economies, and the increasing development of innovative antibiotics. Moreover, the increasing strategic investments by the startup as well as established companies are expected to fuel the growth of the antibiotics market sub-segment over the forecast period.
Region: Asia-Pacific Region to Have the Largest Share of the Market
The Asia-pacific region of the antibiotics market is expected to generate a revenue of $19,932.6 million over the analysis timeframe. The increasing supportive government strategies and innovative initiatives for antibiotics development in this region are expected to drive the regional growth of the market over the forecast period.
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Covid-19 Impact on the Antibiotics Market
Tough the outbreak of the Covid-19 pandemic has devastated several industries, however, it has had a positive impact on the growth of the antibiotics market. This is mainly because of the increased consumption of antibiotics to avoid prolonged illness and longer hospital stays during the pandemic period. In addition, the increase in the prescription of antibiotics by dentists has boosted the growth of the market during the period of crisis.
Key Players of the Antibiotics Market
The major players of the market include
- GlaxoSmithKline plc
- Bristol-Myers Squibb Company
- Bayer AG
- Janssen Global Services
- LLC
- Sanofi
- Novartis AG
- Eli Lilly
- Merck KGaA
- Astellas Pharma Inc
- Abbott
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to procure leading positions in the global industry.
For instance, in August 2021, Sanofi, a leading French multinational company, entered into a definitive agreement with Translate Bio, a clinical-stage mRNA therapeutics company. With this acquisition, the companies aimed to unlock the use and potential of mRNA in developing the best vaccines in other strategic areas such as oncology, immunology, and other rare diseases.
Further, the report also presents other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
More about Antibiotics Market:
- 10 Classes of Antibiotics You Should be Aware About
- The Recent Trends in the Antibiotics Industry
- Upsurge in the Consumption of Antibiotics during the Covid-19 Pandemic to Boost the Global Antibiotics Market Growth by 2027
