Global Antibiotics market, which accrued revenue worth 47 (USD Billion) in 2019, is set to record the CAGR of nearly 4.2% over the period from 2020 to 2026.
The global Antibiotics market, which accrued revenue worth 47 (USD Billion) in 2019, is set to record the CAGR of nearly 4.2% over the period from 2020 to 2026. The report offers assessment and analysis of the Antibiotics market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
In the first half of twentieth century, illness due to contagious agents caused most of the deaths in North America as well as across the globe. However, with the discovery of penicillin in 1928 and medical utilization of sulphonamides in 1930, antibiotic treatment gained prominence. With extensive usage of penicillin in 1940s and introduction of new kinds of antibiotics within the next two decades, the market begin to gain traction. From 1935 till 2003 many new types of antibiotics were introduced and this include sulphonamides, penicillin, aminoglycosides, cephalosporin, chloramphenicol, tetracycline, macrolides, glycopeptides, rapamycin, nitroimidazoles, quinolones, oxazolidinones, and lipopeptides.
Moreover, launching of new antibiotics was considered to eradicate contagious diseases completely. However, with resurgence of new diseases and threat of bioterrorism & genetically engineered pathogens like Bacillus anthracis has compelled the researchers to develop new antibiotics. Hence, with occurrence of new type of antimicrobial resistance microbes, it has become necessary to create new antibiotics to combat these microbes. This has also resulted in growing significance of antibiotics drug treatment in the current years. With spread of COVID-19 across the globe, the antibiotics industry is likely to flourish over the coming decades.
According to Lancet, WHO classified antibiotic intake into three categories namely, Watch, Reserve, and Access for seventy-six nations during 2000 to 2015.
Market Growth Dynamics
Surge in the incidences of chronic disorders has resulted in the demand for development of new medicines and this is likely to translate into market expansion over the estimated timespan. Growing efforts as well as investments made by the key firms in research & development for producing new drugs will prompt the expansion of antibiotics industry over the forecast timespan.
Furthermore, favorable government laws like generating antibiotics incentives now act is projected to expedite the development of antibiotic treatments against pathogens and this will steer the market growth. Need for curbing chronic ailments including Zika virus, pneumonia, COVID-19, cancer, tuberculosis, Ebola virus, and malaria will provide impetus to the growth of the industry over the estimated timespan. Product innovation as well as addition of new products to existing product line as well as private-public strategic alliances & joint ventures will prop up the market size in the foreseeable future.
Asia Pacific Market To Record Tremendous Growth Over 2020-2026
The growth of the market in Asia Pacific zone over 2020-2026 is owing to high incidences of contagious ailments, regulations promoting use of generic medicines, and favorable government laws. Additionally, inflating population and unhygienic conditions will further contribute towards the regional industry growth.
Key players profiled in the report include Novartis AG, Bayer AG, Janssen Pharmaceuticals, Astellas Pharma, Inc., Pfizer, Inc., GlaxoSmithKline plc, Bristol Myers Squibb Company, Abbott Laboratories, Sanofi S.A., and Eli Lilly and Company.
The global antibiotics market is segmented as follows:
By Action Mechanism
By Drug Class
Surge in the incidences of chronic disorders has resulted in the demand for development of new medicines and this is likely to translate into market expansion over the estimated timespan.
The CAGR of the industry is expected to be nearly 4.2% during the forecast timeline.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeline.