LONDON, March 25, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Cephalosporin Global Market Report 2024, the global cephalosporin market continues its upward trajectory, with steady growth expected to persist in the coming years. According to the latest market report, the cephalosporin market size is projected to reach $17.69 billion in 2024, representing a compound annual growth rate (CAGR) of 3.8% from $17.04 billion in 2023. The cephalosporin market size is expected to see steady growth in the next few years. It will grow to $20.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. This growth is driven by several factors, including the escalating global burden of infectious diseases and the increasing demand for broad-spectrum antibiotics.
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Drivers of Market Growth
The historic period saw significant growth attributed to the rising prevalence of bacterial infections and increasing antibiotic resistance. Looking ahead, the forecast period anticipates continued expansion fueled by factors such as the growing incidence of healthcare-associated infections, evolving reimbursement policies, and advancements in technological innovations. Additionally, the rise in healthcare expenditures is expected to play a pivotal role in propelling market growth, fostering research, development, and innovation in antibiotic treatments.
Key Players and Innovations
Major companies operating in the cephalosporin market, including Pfizer Inc., Roche Holding AG, and Merck & Co. Inc., are actively involved in developing new products and therapies to combat antibiotic resistance. Advanced-generation cephalosporins, such as Ceftobiprole, are being introduced to enhance the effectiveness of treating a wider spectrum of bacterial infections. Strategic acquisitions, such as Sandoz International GmbH's acquisition of the cephalosporin antibiotic business from GlaxoSmithKline PLC, further solidify companies' positions in the global antibiotics market.
Market Segmentation
The cephalosporin market is segmented based on type, route of administration, and application. Types include branded and generic cephalosporins, while routes of administration encompass injection and oral administration. Applications of cephalosporins range from respiratory tract infections to urinary tract infections, catering to various healthcare needs worldwide.
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Regional Insights
Asia-Pacific emerged as the largest region in the cephalosporin market in 2023, driven by increasing healthcare expenditures and growing awareness of infectious diseases. However, other regions, particularly North America and Europe, are also significant contributors to market growth.
As the global burden of infectious diseases continues to rise, the demand for effective antibiotic treatments like cephalosporins remains strong. With ongoing technological advancements and strategic investments by key market players, the cephalosporin market is poised for sustained growth, offering opportunities for innovation and development in combating bacterial infections
Cephalosporin Global Market Report 2024 by The Business Research Company provides insights on the cephalosporin market size, cephalosporin market segments, cephalosporin market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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