Rise in consumption of antibiotics in low & middle-income countries (LMICs), heavy inflow of investments for R&D activities by biotech companies, and supportive rules & regulations would propel the growth of the global antibiotics market
According to a report published by Allied Market Research, the global antibiotics market generated $42.33 billion in 2017 and is expected to reach $50.37 billion by 2025, registering a CAGR of 2.1% from 2018 to 2025.The report provides detailed analyses of the top winning strategies, driving forces & opportunities, key market segments, competitive landscape, and strategic developments. As per the report,
Increasing utilization of antibiotics in low and middle-income countries (LMICs) due to high incidence of severe infections, high capital allocation for R&D activities by biotech companies, and supportive norms and regulations drive the growth of the market. However, development of antibiotic resistance and rise in drug approval costs hinder the market growth. Conversely, discovery of advanced prospect molecules and innovative combination therapies for the treatment of antibiotic-resistant microbial infections would create opportunities for the market in future.
The beta lactam and beta lactamase inhibitors segment contributed nearly two-thirds of the total market share in 2017 and is expected to maintain its dominance by 2025. However, quinolones segment would register the fastest CAGR of 4.3% from 2018 to 2025, owing to their characteristics such as remarkable oral bioavailability, good tissue penetration, and high broad-spectrum bactericidal activity, especially in new generation quinolones. The report also analyzes macrolides and others.
The semisynthetic segment accounted for more than one-third of the total market share in 2017 and will continue to maintain its lead by 2025. However, the synthetic segment would register the fastest CAGR of 2.7% from 2018 to 2025 due to high demand for synthetic membrane-targeted antibiotics, broad spectrum activity, rapid bactericidal activity, no cross-resistance with existing antibiotics, and low probability of developing resistance. The report also discusses antibiotics of natural origin.
Intravenous route of administration segment accounted for nearly half of the total market share in 2017 This segment would maintain its lead position by 2025. However, the oral segment would grow at the highest CAGR of 2.5% from 2018 to 2025. This is attributed to the growing demand for broad-spectrum antibiotics to curb widespread antimicrobial resistance. The research also discusses narrow-spectrum antibiotics.
Asia-Pacific region contributed more than one-third of the total market share in 2017. This region would continue to dominate throughout the forecast period. However, LAMEA region would grow at the fastest CAGR of 3.5% from 2018 to 2025.
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The key market players analyzed in the report include Abbott Laboratories, F.Hoffmann-La Roche Ltd., Allergan Plc., Merck & Co. Inc., GlaxoSmithKline plc, Novartis International AG (Sandoz), Mylan N.V., Sanofi, Pfizer Inc., and Teva Pharmaceutical Industries Ltd.
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