Antibiotic Market - Current Scenario and Future Growth Analysis by 2024
Global Antibiotic Market: Overview
Antibiotics, also called antibacterials or antimicrobials, is a group of medicines used in the treatment of infections caused by germs—bacteria and certain parasites—by inhibiting the growth of microorganisms or killing them. Since the discovery of the antibiotic penicillin in 1920, various antibiotic compounds have been widely used to treat several bacterial infections. Increasing incidence of chronic and infectious diseases across the globe and efficacy of antibiotics to treat a wide spectrum of bacterial infections have led to the rapid evolution of the global antibiotic market.
The indiscriminate prescribing of antibiotics by clinicians and physicians and antibiotic drug abuse among livestock over the past few years resulted in the emergence of many antibiotic-resistant bacteria, which proved fatal to human beings. Additionally, various infections surfaced that developed immunity to certain antibiotic strains, which aggravated the problem. However, the discovery of molecules that can fight antibiotic-resistant bacteria has revived the growth of the global antibiotic market. The antibiotics market is poised for a healthy growth along the forecast period.
The report on the global antibiotic market provides detailed insight into the current market outlook, key drivers and restraints, current and emerging trends, and recent developments in drug discovery. The report profiles the key market players and provides a detailed analysis of their key offerings. Furthermore, quantitative estimates of their market share and size across major regions and an in-depth assessment of the factors impacting their strategic dynamics are covered in the report. Emerging opportunities for market players to capitalize on are evaluated in the report as well.
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Global Antibiotic Market: Key Trends and Opportunities
The global antibiotic market is primarily driven by the development of novel approaches for new antibiotics for treating bacterial infections and a large number of clinical trials. In addition, the increasing incidence of infectious diseases, such as HIV/AIDS, pneumonia, malaria, and tuberculosis, combined with the current gap in the demand and supply of antibiotics are other crucial factors boosting the market. Substantial investments in research and development activities by several biotech companies are anticipated to fuel the global antibiotic market growth. In addition, favorable government legislations, such as the Generating Antibiotics Incentives Now (GAIN) Act, offer an impetus to research and development processes, creating exciting growth opportunities for market players.
However, the indiscriminate and sustained use of antibiotics over the past few decades has led to the development of antibiotic-resistant bacteria and pathogens. Infections such as tuberculosis, pneumonia, and gonorrhea, which were initially susceptible to antibiotics have become immune to these drugs. The market, however, is anticipated to witness significant growth due to the discovery of advanced prospect molecules and novel combination therapies to treat antibiotic-resistant microbial infections.
Global Antibiotic Market: Regional Outlook
Based on geography, the report segments the global antibiotic markets into North America, Europe, Asia Pacific, and Rest of the World (ROW). Currently, Asia Pacific accounts for the leading share in the global antibiotic market. The region is likely to present exciting growth opportunities along the forecast period, driven by the prevalence of various infectious diseases, favorable regulatory reforms, and significant demand for generic medicines.
Global Antibiotic Market: Competitive Landscape
A large number of players have been actively focusing on new drug development and clinical trials. Prominent biotechnology companies are entering into strategic alliances, which has helped them make considerable investments in drug discovery. Pharmaceutical companies are actively developing analogues of existing antibiotic classes based on innovative approaches to fight bacterial infections.
Key players operating in the global antibiotic market include Pfizer Inc., Astellas Pharma, Inc, Roche, Novartis AG, Bristol-Myers Squibb Co., Bayer HealthCare AG, Abbott Laboratories, MiddleBrook Pharmaceuticals, Takeda Pharmaceutical Company, Ltd., Daiichi Sankyo Company, Ltd., GlaxoSmithKline Plc, Eli Lilly and Co., and Kyorin Pharmaceutical Co., Ltd.
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