The global “Antibiotics market” size is expected to reach USD 39.06 billion in 2027 at a CAGR of 2.1% during the forecast period. The increasing R&D for the development of antimicrobials in multidrug-resistant bacteria is expected to have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Antibiotics Market Size, Share & Industry Analysis, By Drug Class (Cephalosporin, Penicillins, Fluoroquinolones, Macrolides, and Others), By Route of Administration (Oral and Parenteral) By End User (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The market size stood at USD 43.30 billion in 2019.
Major Antibiotics Market Key players covered in the report include:
- Pfizer Inc. (New York, U.S.)
- GlaxoSmithKline plc (Brentford, U.K.)
- Merck & Co., Inc. (New Jersey, U.S.)
- Sandoz (Novartis AG) (Holzkirchen, Germany)
- Daiichi Sankyo Company, Limited (Tokyo, Japan)
- Taisho Pharmaceutical Holdings (Tokyo, Japan)
- Melinta Therapeutics (New Jersey, U.S.)
- Other Prominent Players
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Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for market to figure out and study the market’s needs, market size, and competition.
Antibiotics Market Analysis 2021:
Increasing Cases of Bacterial Infections to Boost Market
The increasing cases of bacterial infections will spur demand for antimicrobials, which, in turn, will augur well for the market. The rising incidence of tuberculosis, malaria, pneumonia, bacterial skin infections, urinary tract infections (UTI), and others will bolster the market's healthy growth during the forecast period. As per the estimates of WHO, the worldwide prevalence of tuberculosis was 10 million in 2019. According to the Centers for Disease Control and Prevention, 1.7 million HAIs occur every year in the U.S., 32% of which are hospital-acquired UTIs. The increasing government efforts to prevent hospital-acquired infections (HAI), catheter, and ventilator-associated infections will create lucrative opportunities for the market in the forthcoming years.
Adoption of Digital Health Technologies to Promote Growth Amid Coronavirus
The declined patient volume in standalone clinics and hospitals has forced doctors to adopt digital health technologies to sustain their business. Antibiotics and medical devices companies have incurred huge losses due to the economic crisis caused by the pandemic. Moreover, dopped sales observed by key manufacturers can simultaneously dampen the growth of the market. For instance, nine months of Pfizer’s Zithromax sales decreased by 14.2% in 2020 compared to 2019. Similarly, Cubicin, manufactured by Merck & Co., Inc., witnessed a decline of 44.0% in sale during nine months of 2020 as compared to the previous year
Substantial R&D Investments by Major Companies to Consolidate Business
Prominent companies such as Merck & Co., Inc, Sandoz, Taisho Pharmaceutical Holdings, Daiichi Sankyo Company, Limited are investing in R&D to strengthen their position in the industry. Moreover, the increasing approvals for innovative therapies by the FDA can spur lucrative opportunities for the market. For instance, in August 2019, TB Alliance, a non-profit organization, received FDA approval for Pretomanid, as part of combination therapy with linezolid and bedaquiline to treat TB.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit : https://www.fortunebusinessinsights.com/antibiotics-market-104583