Rise in consumption of antibiotics in low & middle-income countries heavy investments for R&D by biotech companies would propel the growth of antibiotics market
PORTLAND, OR, UNITED STATES, September 23, 2020 /EINPresswire.com/ — Allied Market Research published a report, titled, Antibiotics Market by Class (Beta Lactam and Beta Lactamase Inhibitors (Penicillins, Cephalosporins, Carbapenems, and Monobactams), Quinolones, Macrolides, and Others), Drug Origin (Natural, Semisynthetic, and Synthetic), Spectrum of Activity (Broad-spectrum antibiotic and Narrow-spectrum antibiotic), and Route of Administration (Oral, Intravenous, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report provides detailed analyses of the top winning strategies, driving forces & opportunities, key market segments, competitive landscape, and strategic developments. As per the report, the global antibiotics market generated $42.33 billion in 2017 and is expected to reach $50.37 billion by 2025, registering a CAGR of 2.1% from 2018 to 2025.
Increasing utilization of antibiotics in low and middle-income countries (LMICs) due to high incidence of severe infections, high capital allocation for R&D activities by biotech companies, and supportive norms and regulations drive the growth of the market. However, development of antibiotic resistance and rise in drug approval costs hinder the market growth. Conversely, discovery of advanced prospect molecules and innovative combination therapies for the treatment of antibiotic-resistant microbial infections would create opportunities for the market in future.
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Beta lactam and beta lactamase inhibitors segment to maintain its dominance by 2025
The beta lactam and beta lactamase inhibitors segment contributed nearly two-thirds of the total market share in 2017 and is expected to maintain its dominance by 2025. This is due to rise in demand for its effectiveness in treating Gram-positive & Gram-negative bacteria as well as use in the treatment of broad-spectrum of infections. However, quinolones segment would register the fastest CAGR of 4.3% from 2018 to 2025, owing to their characteristics such as remarkable oral bioavailability, good tissue penetration, and high broad-spectrum bactericidal activity, especially in new generation quinolones. The report also analyzes macrolides and others.
Semisynthetic segment to lead throughout the forecast period
The semisynthetic segment accounted for more than one-third of the total market share in 2017 and will continue to maintain its lead by 2025. This is due to the enhanced coverage and efficacy against a wide range of organisms as well as ease in administration and cost effectiveness as compared to other antibiotics. However, the synthetic segment would register the fastest CAGR of 2.7% from 2018 to 2025 due to high demand for synthetic membrane-targeted antibiotics, broad spectrum activity, rapid bactericidal activity, no cross-resistance with existing antibiotics, and low probability of developing resistance. The report also discusses antibiotics of natural origin.
Broad-spectrum antibiotics segment to be lucrative by 2025
Broad-spectrum antibiotics segment contributed more than two-thirds of the total market share in 2017. This segment would dominate by 2025, registering the fastest CAGR of 2.4% from 2018 to 2025. This is attributed to the growing demand for broad-spectrum antibiotics to curb widespread antimicrobial resistance. The research also discusses narrow-spectrum antibiotics.
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Intravenous segment to dominate in terms of revenue during the forecast period
Intravenous route of administration segment accounted for nearly half of the total market share in 2017, owing to the rise in incidence of severe infections, which requires intravenous antibiotics for reaching the tissues faster and achieving higher concentrations as compared to oral antibiotics. This segment would maintain its lead position by 2025. However, the oral segment would grow at the highest CAGR of 2.5% from 2018 to 2025, owing to ease in self-administration, which results in high demand for oral drugs and reduction in hospital stay.
Asia-Pacific to register the highest revenue by 2025
Asia-Pacific region contributed more than one-third of the total market share in 2017, owing to the burgeoning rate of antibiotics consumption, ease in availability of antibiotics, and increase in sales of antibiotics without prescription. This region would continue to dominate throughout the forecast period. However, LAMEA region would grow at the fastest CAGR of 3.5% from 2018 to 2025. This is due to easy of availability and relaxed legislations or restrictions on their usage in this region.
Leading market players
The key market players analyzed in the report include Abbott Laboratories, F.Hoffmann-La Roche Ltd., Allergan Plc., Merck & Co. Inc., GlaxoSmithKline plc, Novartis International AG (Sandoz), Mylan N.V., Sanofi, Pfizer Inc., and Teva Pharmaceutical Industries Ltd. They have implemented various strategies such as expansions, mergers & acquisitions, joint ventures, partnerships, collaborations, and others to achieve a strong position in the industry.
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Source: EIN Presswire