DUBLIN – (BUSINESS WIRE) – Mar 15, 2022–
The Antibiotics market was valued at US $ 44,111.31 million in 2020 and is projected to reach US $ 59,253.24 million by 2028; it is expected to grow at a CAGR of 3.76% from 2020 to 2028.
The growing prevalence of bacterial infection is one of the major factors increasing the demand for antibiotics globally. However, expensive process of antibiotic development is likely to pose a negative impact on the market growth, which in turn will restrain the growth of the market during the forecast years.
Bacteria are microscopic and single-cell omnipresent organisms. Bacterial infection refers to the proliferation of harmful bacterial strains on or inside the human body. These microorganisms can infect any area of the body and may lead to severe consequences. A few of the indications of bacterial infections include pneumonia, meningitis, and food poisoning. Several commonly occurring pediatric bacterial infections are acute otitis media (AOM), sinusitis, bronchitis, upper respiratory tract infection, and pharyngitis.
The prevalence of infectious disease caused by bacteria is increasing day by day worldwide. According to a study published by the American Society for Microbiology (ASM) in 2019, 1.5-4.5 million infections across the world are caused by the Carbapenem-resistant bacterial strains belonging to the Enterobacteriaceae group every year. Additionally, the same risk factor leads to ~ 49,000 hospitalization cases in the US every year. Moreover, according to a study published by UNICEF, in 2018, pneumonia was the cause for ~ 1,755,000 deaths among children below the age of five; moreover, ~ 1,200,000 children lost their lives by diarrhea around the globe. Further, according to a study published by the NCBI in 2018, campylobacterial infection, which is transmitted through the consumption of poultry, is one of the leading causes of bacterial foodborne infections in developed countries, which is causing a major economic burden. According to estimates given by the World Health Organization (WHO) in 2018, every year, ~ 33 million people die of campylobacteriosis worldwide. Such potential increase in prevalence of bacterial infections is expected to continue to drive the growth of antibiotics market during the forecast period. Thus, the increasing prevalence of such drug-resistant bacteria compels the manufacturers and R&D faculties to come up with new variants of antimicrobials effective against the new, as well as old, bacterial strains, thereby fueling the growth of the antibiotics market.
The global antibiotics market is segmented into drug class and action mechanism. Based on drug class, the antibiotics market is segmented into sulfonamides, aminoglycosides, carbapenem, macrolides, fluoroquinolones, penicillin, cephalosporin, and others. The cephalosporin segment held the largest share of the market in 2020; whereas the fluoroquinolones segment is anticipated to register the highest CAGR in the market during the forecast period. Based on action mechanism, the antibiotics market is segmented into mycolic acid inhibitors, RNA synthesis inhibitors, DNA synthesis inhibitors, protein synthesis inhibitors, and cell wall synthesis inhibitors. The cell wall synthesis inhibitors segment held the largest share of the market in 2020; whereas the DNA synthesis inhibitors segment is estimated to register the highest CAGR in the market during the forecast period.
A few of the essential primary and secondary sources referred during the preparation of the report are, Food and Drug Administration, World Health Organization (WHO), Organization for Economic Co-operation and Development, and National Cancer Foundations.
- Rising Prevalence of Bacterial Infections
- Increasing Development of Generic Drugs
- Tedious and Expensive Process of Antibiotic Development
- Growing Investments to Combat Antimicrobial Resistance
- Incorporation of Novel Computing Technologies for Antibiotics Discovery
- Pfizer, Inc
- Johnson & Johnson Services, Inc. (Janssen Pharmaceuticals),
- GlaxoSmithKline Plc,
- Novartis AG,
- Bayer AG,
- Bristol Myers Squibb Company,
- Eli Lilly and Company,
- Astellas Pharma
Laura Wood, Senior Press Manager
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INDUSTRY KEYWORD: HEALTH GENERAL HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 03/15/2022 05:24 AM / DISC: 03/15/2022 05:24 AM