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May 14, 2020 7:00 PM ET

Antibiotics Market In-Depth Profiling With Key Players and Recent Developments, Forecast Period: 2020-2027

iCrowd Newswire - May 14, 2020

The antibiotics market was 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 ata CAGR of 3.6% during2020–2027.

Antibiotics are powerful medicines that are used to fight against bacterial infections and diseases. These are specifically used to treat infections caused by bacteria such as, Staph., Strep., or E. coli. Antibiotics either kill the bacteria (bactericidal) or restrictit from reproducing and growing (bacteriostatic). The antibiotics do not work against any viral infection. Some of the common infections treated with antibiotics are, conjunctivitis, skin or soft tissue infection, upper respiratory tract infection, bronchitis, streptococcal pharyngitis (strep throat), and among others.

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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 Pharma are among the leading companies operating in the antibiotics market. The companies are focused towards the adoption of organic strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in May 2017, Pfizer’s launched new antibiotic for multidrug resistant (MDR) infections Zavicefta in the UK and Germany, its first lauch was in EU markets.

Based on n drug class, the antibiotics market is segmented into Cephalosporin, Penicillin, Fluoroquinolones, Macrolides, Carbapenem, Aminoglycosides, Sulfonamides, and Others. The cephalosporin segment held the largest share of the market in 2019; however, the fluoroquinolones segment is anticipated to register the highest CAGR of 4.8% in the market during the forecast period. Additionally, increasing incidence of pneumonia, bloodstream infections, and Urinary Tract Infections (UTI) is expected to increase the demand for carbapenems class of antibiotics in coming years. Moreover, the lower price of generic carbapenem-based antibiotics is expected to result in increased product adoption, thus compelling carbapenem-based antibiotic manufacturers to develop geographical footprint in lower and middle-income countries.

The growth of the market is attributed to some of the key factors, such as rising prevalence of bacterial infections and increasing development of generic drugs. However, challenges associated with tedious and expensive process of antibiotic development and due to coronavirus pandemic are expected to restraint the growth of the market during the forecast years.

For instance, according to a study published on the NCBI in 2018, the average brand name prescription price was almost 4-times the average generic price. Additionally, the companies are also focusing on the development of generic versions with an aim to offer antibiotics at minimal costs. For instance, in June 2018, Lupin launched generic Tobramycin inhalation solution in the US market. Further, encouragement from government authorities is also projected to drive the production of generic antibiotics, which would eventually drive the growth of the antibiotics market during the forecast period.

Strategic Insights

Product launchesand approvalstrategiesarecommonly adopted by companies to expand their footprint and product portfolio worldwide and meet the growing demand.

The market players operating in the antibiotics marketadopt the strategy ofexpansion to enlarge customer base across the world, which also permits the players to maintain their brand name globally. For instance, in July 2019, The company such as Pfizer has launched an international research consortium to discover and develop new TB antibiotics in collaboration with eight biotechnology partners and European academic.

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Based on drug class, the antibioticsmarket is segmented into sulfonamides, aminoglycosides, carbapenem, macrolides, fluoroquinolones, penicillin, cephalosporin, and others. The cephalosporin segment held the largest share of the market in 2019; whereas the fluoroquinolones segment is anticipated to register the highest CAGR in the market during the forecast period.

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Keywords:    Antibiotics Market, Antibiotics, Bactericides, Anti-infective agents

Tags:    Research Newswire, English