- Global antibiotics market is expected to witness a positive growth during the forecast period
- Fluoroquinolones segment and broad-spectrum segment is expected to garner the highest revenue
- North America is predicted to dominate the industry with the highest market share
NEW YORK, Jan. 13, 2021 /PRNewswire/ -- The Global Antibiotics Market is estimated to generate a revenue of $58,798.1 million at a CAGR of 4.0% growing from $43,298.5 million in 2019, during the forecast period, 2020-2027, as per a new report by Research Dive.
North America Antibiotics Market for antibiotics facilities accounted for $15,132.8 million in 2019 and it is estimated to generate a revenue of $19,950.2 million by the end of 2027. Higher extent of prescribed antibiotics along with strict government & industry regulations for business processes are some of the factors propelling the antibiotics market growth in the region.
Quick Download, Sample Report of Antibiotics Market - https://www.researchdive.com/download-sample/8334
Key Segments of the Market
The report has divided the market into different segments based on drug class, spectrum, and regional outlook.
- The fluoroquinolones drug class segment is expected to grow at a notable CAGR of 5.2% registering a revenue of $10,143.1 million by 2027. The segment accounted for $6,823.1 million in 2019. Fluoroquinolones are extremely effective antibiotics with multiple beneficial pharmacokinetic properties, such as large volume of distribution and broad-spectrum antimicrobial activity, which is expected to be one of the major growth factors of the segmental market.
- The broad-spectrum antibiotics sub-segment is expected to surpass $52,366.7 million by 2027, increasing from $38,018.1 million in 2019. The rising prevalence of infectious diseases, major development of innovative antibiotics, and extensively increasing healthcare expenditure are the major growth boosters of the market.
The growth of the global market for antibiotics is mainly attributed to the novel product innovations for the treatment of severe bacterial infections combined with a large number of clinical trials. In addition to this, the growing prevalence of infectious diseases like pneumonia, HIV/AIDS, tuberculosis, malaria is one of the major factors anticipated to enhance the global market growth, during the forecast period.
Substantial investments in R&D activities by biotech companies, availability and massive adoption of generic medicines, discovery of advanced molecules, and increasing expenditure in healthcare facilities will be some of the factors providing attractive opportunities to the global antibiotics market growth in the coming years.
Development of antibiotic resistance, particularly in the case of bacterial infections, is one of the major reasons which is negatively affecting the global antibiotics market. On the contrary, incorporation of novel computing technologies for antibiotic discovery may further create positive opportunities for the market growth.
Top 10 Key Players in Antibiotics Market and Their Strategies:
According to the report, the leading players of the global antibiotics market include
- Abbott Laboratories
- Merck KGaA
- Bristol-Myers Squibb Company
- Janssen Global Services, LLC
- GlaxoSmithKline plc.
- Novartis AG
- Bayer AG
- Eli Lilly and Company
- Astellas Pharma Inc.
These players are currently focusing on R&D activities, mergers, acquisitions, partnerships, and collaborations to sustain the growth of the market. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
For instance, recently in October 2020, Johnson & Johnson, a global leader in the industry has completed its acquisition of Momenta Pharmaceuticals, Inc. ("Momenta"), a company that discovers and develops novel therapies for immune-mediated diseases, in an all-cash transaction for approximately $6.5 billion.
Impact of Covid-19 on the Global Antibiotics Market
The coronavirus outbreak has impacted the global antibiotics market in a positive way. The obvious reason is that in the recent several months, the demand of antibiotics has increased because of the high number of patients with chronic diseases in hospitals. As per data published by the FDI (Fédération Dentaire Internationale) World Dental Federation in November 2020, there is an extensive surge in antibiotics prescribed to dental patients in England, amid the COVID-19 outbreak. This has created favorable conditions for the global antibiotics market.
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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SOURCE Research Dive