Rising Prevalence of Bacterial Infections is expected to drive the growth of the market
According to the latest study on ‘Antibiotics MarketForecast to 2027 - Covid-19 Impact and Global Analysis by Drug Class and Action Mechanism.’ The global antibiotics marketwas valued at US$ 43,348.38 million in 2019 and is projected to reach US$ 56,351.33 million in 2027; it is expected to grow at a CAGR of 3.6% during 2020–2027. The report provides trends prevailing in the global antibiotics marketand the factors driving market along with those that act as hindrances.
The prevalence of infectious diseases especially caused by bacteria is increasing day by day worldwide. According to a study published by the American Society for Microbiology (ASM) in 2019, 1.5–4.5 million infections across the world are caused by the Carbapenem-resistant bacterial strains belonging to the Enterobacteriaceae group every year. Additionally, the same risk factor leads to ~49,000 hospitalization cases in the US every year. According to a study published by UNICEF, in 2018, pneumonia was the cause for ~1,755,000 deaths among children below the age of five; moreover, ~1,200,000 children lost their lives by diarrhea around the globe. Further, according to a study published by the NCBI in 2018, campylobacteria infection, which is transmitted through the consumption of poultry, is one of the leading causes of bacterial foodborne infections in developed countries, which is causing a major economic burden. According to estimates given by the World Health Organization (WHO) in 2018, every year, nearly 33 million people die of campylobacteria’s worldwide. Such exponential increase in prevalence of bacterial infections is expected to continue to drive the growth of antibiotics market during the forecast period.Thus, the increasing prevalence of such drug-resistant bacteria compels the manufacturers and R&D faculties to come up with new variants of antimicrobials effective against the new, as well as old, bacterial strains, thereby fueling the growth of the antibiotics market.
Based on action mechanism,the antibioticsmarket has been segmented into cell wall synthesis inhibitors, protein synthesis inhibitors, DNA synthesis inhibitors,RNA synthesis inhibitors,mycolic acid inhibitors,and others. The cell wall synthesis inhibitorssegment held the largest share of the market in 2019;whereas the DNA synthesis inhibitors segment is estimated to register the highest CAGR of 4.8% in the market during the forecast period.Such growing prevalence of infectious disease in different regions across the world is raising the global demand for the antibiotics.
Pfizer, Inc., Johnson & Johnson Services, Inc. (Janssen Pharmaceuticals), Abbott, GlaxoSmithKine Plc, Sanofi, Novartis AG, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, and Astellas Pharmaare among the leading companies operating in the antibiotics market.
The report segments Global AntibioticsMarket as follows:
By Drug Class
By Action Mechanism
By Geography
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com