Beta-lactam and Beta-lactamase Inhibitors Market to Cross $34,170 Million by 2028
Pune, Maharashtra, India, December 17 2020 (Wiredrelease) Allied Analytics –:Increase in demand for antimicrobial resistance medication play a major role in the growth of the beta-lactam and beta-lactamase inhibitor market. Furthermore, rise in prevalence of chronic diseases is expected to boost the market growth in the coming years.
According to a new report published by Allied Market Research, titled, “Beta-lactam and Beta-lactamase Inhibitor Market by Drug Class, Disease, and Route of Administration: Global Opportunity Analysis and Industry Forecast, 2019-2028,” The global beta-lactam and beta-lactamase inhibitors market size was $27,126 million in 2018, and is projected to reach $34,170 million by 2028, growing at a CAGR of 2.3% from 2019 to 2028. The cephalosporin segment accounted more than two-fifths of the total beta-lactam and beta-lactamase inhibitors market share in 2018.
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Beta-lactam and beta-lactamase inhibitors are chemical compounds of natural or semi-synthetic or synthetic origin. They inhibit the growth of bacteria and protozoans. The beta-lactam and beta-lactamase inhibitors market is expected to exhibit significant growth during the forecast period due to increased consumption in low and middle-income countries (LMICs) and rise in prevalence of infectious diseases. In addition, development of novel approaches for new beta-lactam and beta-lactamase inhibitors for treating bacterial infections and a large number of clinical trials, further supplement the market growth.
The beta-lactam and beta-lactamase inhibitors market is expected to exhibit significant growth during the forecast period due to the increased consumption in low- and middle-income countries (LMICs) and rise in prevalence of infectious diseases. In addition, development of novel approaches for new beta-lactam and beta-lactamase inhibitors for treating bacterial infections and a large number of clinical trials further drive the market growth. However, development of antibiotic resistance, driven by misuse of beta-lactam and beta-lactamase inhibitors and the time taken for the regulatory approval is projected to impede the market growth. On the contrary, discovery of advanced prospect molecules and novel combination therapies to treat antibiotic-resistant microbial infections are expected to offer significant profitable opportunities for the market players.
Based on drug class, the market is categorized into penicillin, cephalosporin, carbapenem, monobactam, and combination. Combination segment is further categorized into penicillin/beta lactamase inhibitors, cephalosporins/beta lactamase inhibitors, and carbapenems/beta lactamase inhibitors. The combination segment is projected to exhibit the highest growth during the forecast period. This is attributed to rise in the prevalence of antimicrobial resistance and increasing incidences of chronic diseases.
Asia-Pacific was the leading revenue contributor to the global beta-lactam and beta-lactamase inhibitors market in 2018, and is expected to remain dominant throughout the forecast period. This is attributed to upsurge in incidence of chronic diseases, increase in geriatric population, rise in consumption of antibiotics, and availability of drugs over-the-counter without prescription.
The report provides a comprehensive analysis of the key players operating in the global beta-lactam and beta-lactamase inhibitors market industry, 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 Hikma Pharmaceuticals, Melinta Therapeutics, Eli Lilly and Company, Shionogi, Inc., AstraZeneca plc, and others.
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Key Findings of the Beta-lactam and Beta-lactamase Inhibitor Market :
Based on drug class, cephalosporin segment was the major revenue contributor in 2018 and is anticipated to continue this trend during the forecast period.
Based on disease segment, its complicated intra-abdominal infection (cIAI) is expected to exhibit the highest CAGR with 4.8% during the forecast period.
Depending on route of administration, the oral segment was the largest revenue contributor in 2018 and expected to continue this trend from 2019 to 2028.
U.S. generated the highest revenue in the global beta-lactam and beta-lactamase inhibitors in 2018, accounting more than one-fifth of the global market in 2018.
LAMEA is estimated to grow at a highest CAGR during the forecast period.
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