DUBLIN--(BUSINESS WIRE)--The "Antibiotics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Drug Class; Action Mechanism, and Geography" report has been added to ResearchAndMarkets.com's offering.
The antibiotics was valued at US$ 43,348.38 million in 2019 and is projected to reach US$ 56,351.33 million by 2027; it is expected to grow at a CAGR of 3.6% from 2020 to 2027.
The growing prevalence of bacterial infection is one of the major factors increasing the demand for antibiotics globally. However, expensive process of antibiotic development is likely to pose a negative impact on the market growth, which in turn will restrain the growth of the market during the forecast years.
Bacteria are microscopic and single-cell omnipresent organisms. Bacterial infection refers to the proliferation of harmful bacterial strains on or inside the human body. These microorganisms can infect any area of the body and may lead to severe consequences. A few of the indications of bacterial infections include pneumonia, meningitis, and food poisoning. Several commonly occurring pediatric bacterial infections are acute otitis media (AOM), sinusitis, bronchitis, upper respiratory tract infection, and pharyngitis.
The prevalence of infectious disease caused by bacteria is increasing day by day worldwide. According to a study published by the American Society for Microbiology (ASM) in 2019,1.5-4.5 million infections across the world are caused by the Carbapenem-resistant bacterial strains belonging to the Enterobacteriaceae group every year. Additionally, the same risk factor leads to ~49,000 hospitalization cases in the US every year. Moreover, according to a study published by UNICEF, in 2018, pneumonia was the cause for ~1,755,000 deaths among children below the age of five; moreover, ~1,200,000 children lost their lives by diarrhea around the globe.
Further, according to a study published by the NCBI in 2018, campylobacterial infection, which is transmitted through the consumption of poultry, is one of the leading causes of bacterial foodborne infections in developed countries, which is causing a major economic burden. According to estimates given by the World Health Organization (WHO) in 2018, every year, ~33 million people die of campylobacteriosis worldwide. Such potential increase in prevalence of bacterial infections is expected to continue to drive the growth of antibiotics market during the forecast period. Thus, the increasing prevalence of such drug-resistant bacteria compels the manufacturers and R& D faculties to come up with new variants of antimicrobials effective against the new, as well as old, bacterial strains, thereby fueling the growth of the antibiotics market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the antibiotics market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global antibiotics market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
- Rising Prevalence of Bacterial Infections
- Increasing Development of Generic Drugs
- Tedious and Expensive Process of Antibiotic Development
- Growing Investments to Combat Antimicrobial Resistance
- Incorporation of Novel Computing Technologies for Antibiotics Discovery
- GlaxoSmithKline plc.
- Novartis AG
- Pfizer Inc.
- Bayer AG
- Johnson & Johnson Services, Inc.
- Bristol-Myers Squibb Company
- Astellas Pharma Inc.
Eli Lilly and Company.
For more information about this report visit https://www.researchandmarkets.com/r/thcbj4