Antibiotics Market to Reach $50,374 Million by 2025
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:Increased consumption of antibiotics in low- & middle-income countries worldwide play a major role in the growth of the antibiotics market. Furthermore, rise in prevalence of infectious diseases is expected to boost the market growth in the coming years.
According to a new report published by Allied Market Research, titled, “Antibiotics Market by Class, Drug Origin, Spectrum of Activity, and Route of Administration: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,” The global antibiotics market generated $42,335 million in 2017, and is projected to reach $50,374 million by 2025, growing at a CAGR of 2.1% from 2018 to 2025. The beta lactam & beta lactamase inhibitors segment accounted for more than three-fifth of the total market share in 2017.
Antibiotic is a medication used to either inhibit or prevent bacterial infections referred as bactericidal and bacteriostatic antibiotics, respectively. Various types of antibiotics such as penicillin, cephalosporin, carbapenem, and monobactam are available in pharmacies and hospitals that are used to treat infectious diseases.
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The antibiotics market is expected to exhibit significant growth during the forecast period, due to rise in demand for new generation antibiotics that can resolve the issue of antimicrobial resistance. In addition, development of novel approaches for new antibiotics for treating bacterial infections and increase in number of clinical trials supplement the growth of the antibiotics market. However, development of antibiotic resistance, driven by misuse of antibiotics, and time taken for the regulatory approval restrain the market growth. On the contrary, the discovery of advanced prospect molecules and introduction of novel combination therapies to treat antibiotic-resistant microbial infections are expected to provide new opportunities for market players in the near future.
Based on class, the global antibiotics market is categorized into beta lactam & beta lactamase inhibitors, quinolones, macrolides, and others. The quinolones segment is anticipated to exhibit the highest CAGR during forecast period, due to upsurge in demand for broad-spectrum, bactericidal activity; new generation quinolones; enhanced oral bioavailability; superior tissue penetration; and improved safety & tolerability.
By route of administration, the market is classified into oral, intravenous, and others. The intravenous segment was the major revenue contributor in 2017, and is projected to continue this trend during the forecast period, due to increase in incidence of severe infections. Moreover, as intravenous antibiotics are administered in higher concentrations, they reach in the tissues faster as compared to oral antibiotics.
Asia-Pacific is expected to remain dominant throughout the forecast period attributable to increased antibiotics consumption, their easy availability, and rise in sale of over-the-counter drugs. However, LAMEA is expected to experience the highest growth rate during the forecast period, majorly due to no obligations on antibiotics use in this region.
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Key Findings of the Antibiotics Market:
Based on spectrum of activity, the broad-spectrum antibiotic segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 2.4% from 2018 to 2025.
Depending on route of administration, the oral segment is expected to exhibit the highest CAGR during the forecast period.
By drug origin, the semisynthetic segment was the major revenue contributor in 2017, and is anticipated to continue this trend during the forecast period.
U.S. generated the highest revenue in the global antibiotics market in 2017, accounting for more than one-fifth of the global market in 2017.
LAMEA is estimated to grow at a CAGR of 3.5% during the forecast period.
The report provides a comprehensive analysis of the key players operating in the global antibiotics market, namely, Abbott Laboratories, Allergan Plc., F.Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Merck & Co. Inc., Mylan N.V., Novartis International AG (Sandoz), Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
The other players in the value chain include Aurobindo Pharma, Bayer HealthCare, Eli Lilly, Lupin Pharmaceuticals, Sun Pharmaceutical, Shionogi, and others.
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