Report : Antibiotics Market Forecast to 2027 - Covid-19 Impact and Global Analysis - By Drug Class ( Sulfonamides, Aminoglycosides, Carbapenem, Macrolides, Fluoroquinolones, Penicillin, Cephalosporin, Others ); Action Mechanism ( Mycolic Acid Inhibitors, RNA Synthesis Inhibitors, Mycolic Acid Inhibitors, DNA Synthesis Inhibitors, Protein Synthesis Inhibitors, Cell Wall Synthesis Inhibitors
The Cephalosporin Segment by Drug Class Is Expected to Dominate the Market Over the Forecast Period
According to the latest study on ‘Antibiotics Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Drug Class and Action Mechanism.’ The global antibiotics market was valued at US$ 43,348.38 million in 2019 and is projected to reach US$ 56,351.33 million in 2027; it is expected to grow at a CAGR of 3.6% during 2020–2027. The report provides trends prevailing in the global antibiotics market and the factors driving market along with those that act as hindrances.
Based on n drug class, the antibiotics market is segmented into Cephalosporin, Penicillin, Fluoroquinolones, Macrolides, Carbapenem, Aminoglycosides, Sulfonamides, and Others. The cephalosporin segment held the largest share of the market in 2019; however, the fluoroquinolones segment is anticipated to register the highest CAGR of 4.8% in the market during the forecast period. Additionally, increasing incidence of pneumonia, bloodstream infections, and Urinary Tract Infections (UTI) is expected to increase the demand for carbapenems class of antibiotics in coming years. Moreover, the lower price of generic carbapenem-based antibiotics is expected to result in increased product adoption, thus compelling carbapenem-based antibiotic manufacturers to develop geographical footprint in lower and middle-income countries.
The growth of the market is attributed to some of the key factors, such as rising prevalence of bacterial infections and increasing development of generic drugs. However, challenges associated with tedious and expensive process of antibiotic development and due to coronavirus pandemic are expected to restraint the growth of the market during the forecast years.
Pfizer, Inc., Johnson & Johnson Services, Inc. (Janssen Pharmaceuticals), Abbott, GlaxoSmithKine Plc, Sanofi, Novartis AG, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, and Astellas Pharma are among the leading companies operating in the antibiotics market. The companies are focused towards the adoption of organic strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in May 2017, Pfizer's launched new antibiotic for multidrug resistant (MDR) infections Zavicefta in the UK and Germany, its first lauch was in EU markets.
The report segments global antibiotics market as follows:
Antibiotics Market - By Geography