- The escalating demand for affordable and efficient antibacterial drugs will serve as growth boosters for the antibacterial drugs market during the assessment period of 2019-2027
- TMR's market insights on the antibacterial drugs market estimate it to expand at a CAGR of 1.5 percent during the forecast period of 2019-2027
ALBANY, N.Y., July 14, 2021 /PRNewswire/ -- The initiatives by the government bodies in the healthcare sector and the increasing patient population will prove to be growth-accelerating factors for the antibacterial drugs market during the tenure of 2019-2027. The Centers for Diseases Control and Prevention (CDC) found out that nearly 2.8 mn people are the victims of antibiotic-resistant infections in the U.S. Furthermore, more than 30000 people die due to the infection. These statistics are of grave concern and hence, have a positive impact on the growth of the antibacterial drugs market.
Antibacterial drugs, also known as antibiotics, are an antimicrobial substance type that's active against bacteria and is crucial for tackling bacterial infections. The prevention and treatment of many infections are done through antibacterial drugs. These factors help in the overall growth of the antibacterial drugs market. The World Health Organization (WHO) estimates that antibiotic-resistant bacteria are the causes of 60 percent of hospital-acquired infections in the U.S. Thus, the rising concerns of such infections will prove to be a boon for the growth of the antibacterial drugs market.
Transparency Market Research (TMR) has analyzed the overall growth trajectory of the antibacterial drugs market. After a prolonged analysis on each aspect, TMR's market insights on antibacterial drugs project it to record a moderate CAGR of 1.5 percent across the assessment period of 2019-2027. The global market for antibacterial drugs stood at US$ 46.37 bn in 2018 and is prognosticated to reach a valuation of ~US$ 53.07 bn by 2027, the end year of the forecast period.
The high prevalence of infectious diseases like malaria, pneumonia, and tuberculosis is increasing the growth opportunities across the antibacterial drugs market. The expanding disease burden is urging the government and the non-government bodies to provide expansive funding for an increase in research and development activities. Furthermore, research collaborations are also proving to be a good growth generator for the antibacterial drugs market. The growth of the antibacterial drugs market will largely depend on the investment and funding prospects of government and non-government organizations.
Quick Drug Approvals by Regulatory Authorities to Add Extra Stars of Growth
Regulatory authorities like the Food and Drug Administration (FDA) are trying to accelerate their approval process. The growing participation of regulatory authorities in providing quick approval to these drugs will majorly impact the antibacterial drugs market to a considerable extent. Furthermore, the growing initiatives by the government bodies of numerous countries will bring exponential growth for the antibacterial drugs market.
Blending of Antibacterial Drugs with Bioenhancers will lay the Foundation of Growth
The utilization of bio-enhancers has increased considerably over the years. They help in improving the bioavailability and efficacy of a drug. Commonly used antibacterial drugs are being combined with bio-enhancers. Thus, these factors bode well for the growth of the antibacterial drugs market.
Broader Availability of Over the Counter Drugs to Hamper the Growth of the Antibacterial Drugs Market
The sales of over-the-counter drugs have increased considerably. The expiry date of the patents of many antibacterial drugs is nearing or has already passed their expiration date. Thus, many individuals prefer over the counter drugs, eventually hampering the growth of the antibacterial drugs market. Barring these reasons, the 2021-2031 forecast period looks ripe for the antibacterial drugs market growth.
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