Antibiotic Market to Witness Enhanced Growth Owing to Rising Prevalence of Infectious Diseases by 2022 | Million Insights
FELTON, California, September 6, 2018 /PRNewswire/ --
The global antibiotic market is expected to witness rapid growth in the near future due to the development of novel products and rising investment in research & development of advanced antibiotic. Additionally, development of thirty-seven highly advanced molecules in the U.S. region coupled with phase II clinical trials are expected to foster market growth over the forecast period.
Favorable governmental regulation, reforms and legislations such as the Generating Antibiotics Incentives Now (GAIN) Act are predicted to drive approval rate, thus propelling market growth further. Globally, the antibiotic market is predicted to grow at a substantial CAGR in forecast period, providing numerous opportunities for market players to invest in research and development in the antibiotic market.
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The Generating Antibiotics Incentives Now (GAIN) Act has enabled production of advanced set of therapies against antibiotic resistant pathogens. These factors are expected to play a major role for the robust growth of market over the forecast period. Growing demand of antibiotic drugs is attributed to rising prevalence of infectious diseases in both developing and developed economies across the globe, in the recent years. Additionally, rising number of manufacturers of antibiotic drugs and significant R&D activities in the market are expected to fuel market growth in the upcoming years.
Infection diseases such as Diarrhea is considered as one of the Major cause of high mortality rate among children, particularly in the developing and underdeveloped economies all around the globe. Increasing use of antibiotic drugs to prevent this morbidity is anticipated to augment market demand over the forecast period. Increasing number of cases related to other infectious diseases such as HIV, pneumonia, malaria, and tuberculosis is further propelling market growth since last couple of decades.
Moreover, surfacing of unfamiliar infections, such as Zika virus and Ebola, has led to the soaring demand of antibiotics in the market. Recent collaborations among various private bodies and research institute with governmental agencies and colleges to develop innovative techniques and products to fight against unfamiliar infections, such as Zika virus and Ebola is predicted to fuel market growth over the forecast period.
Rising funding from regional governments for innovative R&D approaches is leading to the generation of new pipeline products. However, complexity associated with development of advanced antibiotics and high initial cost are some of the major restraining factors for market growth to a certain extent. Additionally, lack of awareness of these products in underdeveloped economies and the high cost of development of the drugs is anticipated to limit market growth.
The monoclonal antibodies is considered as one of the fastest growing segment in the antibiotics market with substantial revenue generation in the last couple of years. Other market segment along with monoclonal antibodies such as tetracyclines, imidazoles and lincosamides hold massive market share across the globe.
Numerous benefits of monoclonal antibodies over its counter parts is considered as major driving factor for the growth of monoclonal antibodies market segment. Growing prevalence of pneumonia, blood stream infections, and urinary tract infections (UTI) are predicted to boost the demand of carbapenems class of antibiotics.
The antibiotics market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. Latin America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceuticals & medicine sector, strong economic growth in the region, and existence of well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the antibiotics market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific's market with increasing occurrence of infectious diseases, ever-growing population in developing economies, favorable governmental regulation and reforms, increasing use of generic medicines, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the antibiotics market are Pfizer Incorporations, Janssen Pharmaceuticals, Inc., Abbott Laboratories, GlaxoSmithKline plc, Sanofi S.A., Novartis AG, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company Co., and Astellas Pharma Incorporations.
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Market Segment:
The reports help answer the following questions:
• What is the size of the antibiotic market in the world and in different countries?
• How is the market split into different types of antibiotics?
• How are the overall market and different product types growing?
• How is the market predicted to develop in the future?
The latest industry data included in the reports:
• Demand for antibiotics, 2011 - 2022
• Antibiotic market size by product type, 2011 - 2022
• Growth rates of the overall market and different product segments, 2011 - 2022
• Shares of different product segments of the overall market, 2011, 2017, and 2022
The market data is given for the following product segments:
• Chloramphenicol
• Erythromycin
• Penicillins
• Streptomycins
• Tetracyclines
• Other antibiotics
• Medicaments containing penicillins
• Medicaments containing other antibiotics
Among the key reasons to purchase include the following:
•Gain an outlook of the historical development, current market situation, and future outlook of the antibiotic market in the world to 2022
•Track industry developments and identify market opportunities
•Plan and develop marketing, market-entry, market expansion, and other business strategies by identifying the key market opportunities and prospects
•Save time and money with the readily accessible key market data included in the reports. The data is clearly presented and can be easily incorporated into presentations and internal reports.
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