Penicillin and Streptomycin Market size is estimated to reach $2.9 Billion by 2025, growing at a CAGR of 0.7% during the forecast period 2020-2025. Penicillin and Streptomycin are the two Antibiotics that are widely used in treating bacterial infections owing to their powerful combined action against gram-negative bacteria and gram-positive bacteria. Penicillin is used in treating throat infections meningitis, syphilis and other infections. Streptomycin is used in treating Tuberculosis, Mycobacterium avium complex, Plague, Rat-bite fever and other. Antibiotics can prevent many infections from occurring in certain cases such as before surgery. They are fast-acting and some work within few hours. Owing to the increased investment in R&D with new product developments, the penicillin and Streptomycin market is experiencing high growth. The on the growing use of Antibiotics in cell culture laboratories providing opportunities for market development. As it suppresses the infections antibiotics are often used in cell culture media. And the combination of Penicillin and Streptomycin are the most common antibiotics for the cell culture. During the making of the primary cell culture, or when propagating unique useful stocks or removing them, many cell culture laboratories frequently add antibiotics and antimycotics to a cell culture media. The market for Penicillin and Streptomycin is set to rise soon as cell culture research is increasing significantly.
Penicillin and Streptomycin Market Segment Analysis – By Application
The Application segment of Penicillin and Streptomycin Market has Penicillin and Streptomycin. Penicillin segment registers for the highest market share in 2019 and is set to be the fastest growing with a CAGR of 1.4% during the forecast period 2020-2025. Rise in the occurrence of bacterial infections and increase in investments in the activities of Research and Development and the growing demand for the generic drugs are driving the usage of Penicillin and Streptomycin as the antibiotic agents and with advances in the new product production and use of Penicillin-Streptomycin compound as an anti-bacterial agent in the cell culture, the Penicillin and Streptomycin market is having many growth opportunities.
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Penicillin and Streptomycin Market Segment Analysis – By Geography
Based on Geography the global Penicillin and Streptomycin market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific had the dominant share of 38.6% in the year 2019 owing to the increased production on Penicillin and Streptomycin, and China is the largest supplier of Penicillin and Streptomycin globally. Asia-Pacific is set to have the fastest growth during the forecast period 2020-2025, owing to the increase in demand of antibiotics. Increase in the economy in the developing countries and increase in the bacterial infection and usage of the Penicillin and Streptomycin in the cell cultures is driving the demand in Penicillin and Streptomycin Market.
Penicillin and Streptomycin Market Drivers
Increase in Contagious Disease:
Owing to the climate changes and with weak immunity, many people are suffering from various contagious disease caused by different microorganisms, which is driving the usage of Penicillin and Streptomycin in treating the infections. Poor hygiene in the environment, eating contaminated food and drinking contaminated water are rising the cases of microbial infections. Not maintaining proper hygiene lifestyle and not covering mouth while sneezing or coughing is spreading the infection rapidly. People with malnutrition, smoking and drinking habits, chronic diseases are heavily susceptible to such infections. These things that are acting as supporters to the growth of the Penicillin and Streptomycin Market.
Increase in Investments in R&D:
Heavy investments in the R&D is promising in the invention and improvisation of the antibiotic drugs in the industries. Investing in the R&D sector of antibiotics is stimulating in the discovery of a number of new antibiotics owing to the rise in new contagious disease industries are focussing on developing the new drugs to tackle such infections. These investments in R&D are acting as drivers for supporting the growth of the Penicillin and Streptomycin Market.
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Penicillin and Streptomycin Market Challenges
Growth of Resistance in Bacteria:
The biggest challenge faced by the Penicillin and Streptomycin Market is Bacteria showing resistance towards antibiotics. Some bacteria have already developed resistance towards antibiotics that have been widely used to treat them once. For example, Neisseria gonorrhoeae (the cause of gonorrhoea) and Staphylococcus aureus (‘golden staph’ or MRSA) are immune to benzyl Penicillin. These infections were once treated by Penicillin in the past. The mutation caused in the bacteria is providing immunity towards the antibiotics like Penicillin and Streptomycin. It is estimated that millions of diseases and over 23,000 deaths are caused by developed antibiotic resistance in the bacteria every year. This has become the big public health issue worldwide, which has become a key limiting factor of the growth of global demand for the Penicillin and Streptomycin Market.
Expiration of Patents:
Expiration of patents and also the availability of alternative drugs are showing a huge impact on the Penicillin and Streptomycin Market. And are creating obstacles in the development of the market.
Penicillin and Streptomycin Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Penicillin and Streptomycin Market. In 2019, Penicillin and Streptomycin Market share is fragmented by the top ten players present in the market. Penicillin and Streptomycin Market top 10 players are Pfizer, Inc., GlaxoSmithKline Plc, Johnson & Johnson, Lonza AG, Novartis Healthcare, Merck & Co, Dr Reddy Laboratories, Takeda Pharmaceutical Company Ltd., Astellas Pharma Inc., Eli Lilly and Company are among the significant players.
AstraZeneca has sold its small molecule antibiotics business to Pfizer, Inc, in August 2016.
Geographically, Asia-Pacific Penicillin and Streptomycin Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand for Penicillin and Streptomycin Market as a pesticide in this region.
Increased demand for new formulation and recent developments made by the key players in a different region of the world are driving the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Penicillin and Streptomycin Market report.
Increased food security in different regions and increased usage of Penicillin and Streptomycin Market in treating the different bacterial infections and in cell culture are driving the market during the forecast period 2020-2025.
Related Reports :
A. Tuberculosis Diagnostics Market
B. Antibiotics Drugs Market
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