Antibiotics Market Size Estimated to Flourish at USD 56,351.33 million by 2027
Category: #business  By Partha Ray  Date: 2020-06-29
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Antibiotics Market Size Estimated to Flourish at USD 56,351.33 million by 2027

According to the research report titled ‘Antibiotics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Drug Class; Action Mechanism, available with Market Study Report LLC, the global antibiotics market was worth USD 43,348.38 million in 2019 and is expected to amass USD 56,351.33 million by the year 2027, growing with a CAGR of 3.6% over 2020-2027.

The report cites that the surging pervasiveness of bacterial infections is driving the demand for antibiotics across the globe. The occurrences of infectious diseases triggered by bacteria is increasing across the globe day by day. As per a study published in 2019 by the (ASM) American Society for Microbiology, Carbapenem-resistant bacterial strains which belong to Enterobacteriaceae group, are the cause of over 1.5-4.5 million infections every year around the world. 49,000 cases of hospitalization have been recorded on a yearly basis in the US, cites the research document. In addition to this, a study published by UNICEF in the year 2018, states that pneumonia has caused 1,755,000 deaths of children below the age of five.

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Bacteria are single cell and microscopic omnipresent organisms. Infection is caused by rapid increase in the number of harmful bacterial strains inside or on the human body. Any area of the body can be affected by these microorganisms leading to serious medical conditions. Food poisoning, meningitis, and pneumonia are few indications of the indications of bacterial infections. Pharyngitis, upper respiratory tract infection, bronchitis, sinusitis, and acute otitis media (AOM) are some commonly occurring pediatric bacterial infections.

However, the high cost of antibiotic development is likely to impede the growth of global antibiotics market over the forecast timeframe.

The faculties of research & development and manufacturing are impelled to come up with new and effective variants of antimicrobials against the bacterial strains, which in turn drives the growth of global antibiotics market. The market is bifurcated based on action mechanism and drug class.

In terms of drug class, the market is divided into fluoroquinolones, cephalosporin, penicillin, macrolides, carbapenem, aminoglycosides, sulfonamides, and others. In 2019, the cephalosporin segment held a significant market share, whereas, fluoroquinolones segment is slated to grow substantially over the forecast timeframe. Based on action mechanism, the market is divided into cell wall synthesis inhibitors protein synthesis inhibitors, DNA synthesis inhibitors, RNA synthesis inhibitors, and mycolic acid inhibitors. In 2019, cell wall synthesis inhibitors segment led the global antibiotics market, however, DNA synthesis inhibitors segment is likely to record a high CAGR over 2020-2027, cites the study.

The leading organizations in the global antibiotics market are Eli Lilly and Company, Abbott, Astellas Pharma Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Bayer AG, Pfizer Inc., Novartis AG, Sanofi, and GlaxoSmithKline plc. among others.

Question and Answer: Global Antibiotics Market

Q1) What are the factors driving the growth of global antibiotics market?

Answer: The increasing pervasiveness of bacterial infections and growing cases of diseases caused by bacterial strains are the factors driving the growth of global antibiotics market.

Q2) Why is global antibiotics market registering sluggish growth?

Answer: The high cost of antibiotic development is likely to impede the growth of global antibiotics market.

Q3) Which are the major players of global antibiotics market?

Answer: Eli Lilly and Company, Abbott, Astellas Pharma Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Bayer AG, Pfizer Inc., Novartis AG, Sanofi, and GlaxoSmithKline plc. are some of the major players.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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