Antibiotics Market is anticipated to grow at a CAGR of 3.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Antibiotics Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Antibiotics Market accounted for overUS$ 47 billion in 2019. It is anticipated to grow at aCAGR of 3.9% from 2020 to 2030.
Antibiotics, also known as antibacterial, are medications used to fight infections caused by bacteria. They treat infections by killing or decreasing the growth of bacteria. Before antibiotics, most deaths were caused by bacterial infections. Antibiotics are powerful, life-saving medications for people with certain serious infections. They can also prevent less-serious infections from becoming serious. Most antibiotics usually take 7 to 14 daysto complete the cure. However, in some cases, shorter treatment durations can also work. It is advised to finish the entire antibiotic regimen in order to fully resolve infections and help prevent antibiotic resistance.
The market growth of antibiotics can be attributed to factors, such asincreasing incidents of infectious diseases such as diarrhea, pneumonia, malaria, tuberculosis, and others. This leads to an increased demand for antibiotics production. According to UNICEF, in 2017, diarrhea accounted for approximately 8 percent of all deaths among children under the age of 5 worldwide. Furthermore, increasing investments in R&D; by major biopharmaceutical companies are also leading to market growth.
Other factors,suchas supportive government policies,are expected to provide lucrative growth opportunities for the market. For instance, the U.S.government enacted the Generating Antibiotic Incentives Now Act (GAIN Act) of 2012, which provides benefits to manufacturers of Qualified Infectious Disease Products (QIDPs) including 5 years of additional nonpatent exclusivity. Moreover, technological advancementsin the development of innovative drugs by the keyplayers will also boost marketgrowth.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Antibiotics Market by Drug Class (Beta-lactams, Macrolides, Aminoglycosides,and Quinolones), Route of Administration (Oral and Intravenous), Distribution Channel (Retail Pharmacies and Online Pharmacies) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/antibiotics-market/295
However, the development of bacterial resistance is on the rise and renders the antibiotic or its entire class ineffective, which may curb market growth to a certain extent.
Asia Pacific is estimated to be the fast-growing region owing to itslarge population base, high prevalence of infectious diseases, regulation reforms, and greater utilizationof generic medicines in this region. Furthermore, R&D; activities by key market players for the development of innovative products are also expected to support growth in the Asia Pacific region. These factors are also key growth contributors across this region.
Some of the prominent players in the global antibiotics market include Glaxo Smith Kline plc., Merck & Co., Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd, Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., Abbott Laboratories., Sanofi, Allergan, Janssen Global Services, LLC,and others.
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