Antibiotics Market size imprints long-term market growth with a CAGR of 4.28%
Antibiotics Market size imprints long-term market growth through 2020-2026 amidst development of new and effective antibiotics. Key factors driving the Antibiotics Market growth include the emergence of anti-methicillin-resistant staphylococcus aureus (MRSA) drugs, development of generic drugs, rise in the cases of infectious diseases along with imbalance of demand-supply of antibiotics.
Improved standards of healthcare facilities and sophisticated treatment options have led to anincrease in life expectancy rates leading to an increased aging population.
However, decreased efficacy of antibiotics and diminishing pipeline of new antibiotics product are factors reflecting slow market growth.
Upcoming regulatory environment for development of antibiotics boosts market opportunity
The growing frequency of drug-resistant microbial strains and deficiency of antibiotics encourages the development of new antibiotics. The Antibiotics market is driven by various emerging regulatory trends, the treatment of patients with drug-resistant infections requires a long hospital stay, adoption of expensive treatments, and frequent clinic visits, thereby increasing the financial and psychological burden on families that have been directed toward controlling the problem ofantibiotic resistance.
The regulatory and legislative environment has enhanced over the pastdecade for antibiotics developers, with some new incentives still in progress. The FDA has goneto great lengths to incentivize the development of next-generation antibiotics to make easy and quick entryof new drugs into the market.
Increasing demand and counter growing cases impacts antibiotics market
Drug-resistant infectionsoffer ideal opportunities for pharmaceutical companies to introduce new products into the Antibiotics market
A variety of new drugs with improved effectiveness and reducedresistance are entering the market share while several others are in the pipeline. For instance, glycopeptides (vancomycin, teicoplanin) and oxazolidinones (Zyvox) are expected to drive the market size in a positive direction during the forecast period.
Carbapenems showcases rapid antibiotics market growth over estimated period
The cephalosporin segment is accounting for the largest market shareduring the forecast periodas result of rising threat of drug resistance and a weak pipeline of new molecules are leading to the development of combinational formulations.
For instance, the emergence of multi-drug-resistant tuberculosis (TB) is a major factor driving the R&D expenditures of key vendors along with methicillin-resistant staphylococcus aureus (MRSA) bacterium responsible for several infections in humans that are difficult to treat.
Rise in health expenditure across developed regions imprints strong market value
North America currently dominates the antibioticsmarket and is expected to continue its stronghold owing to the increased adoption of antibiotics, with theUnited States recording the highest antibiotic prescribing rate.
Asia Pacific is expected to boost the antibiotics market share over the forecast periodon account of large population base, high prevalence of infectious diseases, regulation reforms, and greater usage of generic medicines.
In Central and South America, especially Brazil, with its strong growth in the pharmaceuticals sector is also projected to exhibit remunerative growth. Outbreak of certain viruses, such as Ebola, in the Africa contributed to the growth of the region.
Contributions and strategic approaches observed across key players of Antibiotics Market
GlaxoSmithKline PLC (GSK) is committed to tackling antimicrobial resistance (AMR) as part of a sustained, multi-stakeholder response to this global health threat.GSK’s new payment model to support antibiotics R&D has the potential to be game-changing and hopes that other countries will follow the UK’s lead.
Through the International Trachoma Initiative, in 2018 Pfizer Inc. donated more than 740 million antibiotic doses that can travel more than 9,000 miles at times to reach the hands of local health workers for distribution.
In 2018, giving a single dose of a Pfizer oral antibiotic once every six months to children under 5 years old in Niger, Malawi and Tanzania reduced the overall number of child deaths by 13.5 percent.
Pfizer to contribute to trachoma elimination efforts through the donation of an antibiotic used to treat trachoma, and recently extended its donation until 2026.
GlaxoSmithKline PLC, Johnson& Johnson Inc., Merck& Co. Inc., PfizerInc., Bayer Healthcare AG, Novartis AG, SanofiSA, AbbottLaboratories, Roche Holding AG are among the major vendors contributing market growth.