The global antibiotic market is estimated to augment during 2020-2027 timeframe due to prevalence of severe illnesses worldwide. The Covid-19 pandemic is projected to leave a positive impact on the market. The Asia-Pacific region is anticipated to dominate the market during the forecasted years.
New York, USA, June 14, 2021 (GLOBE NEWSWIRE) -- As per a recent report examined by Research Dive, the global antibiotics market is expected to gather a revenue of $58,798.1 million by 2027, rising from a market size of $43,298.5 million in the year 2019, at a considerable growth rate of 4.0% during 2020-2027 forecasted timeframe. The market report includes numerous facets such as the Covid-19 impact, current driving factors & restrains, forecasts, and trends. The market report is based on primary and secondary research methodologies which include acquiring information from authentic websites, conducting interviews, and reading journals or periodicals.
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Covid-19 Impact on the Market
The global antibiotics market is projected to enhance rapidly during the coronavirus pandemic due to the necessity to avert prolonged sickness. People wish to avoid staying in the hospitals for a longer duration during the pandemic, thus they are consuming antibiotics to avoid hospital stays. For example, in November 2020, England saw a massive surge in antibiotics prescription in the dental patients during the outbreak. There was a 25% rise in the antibiotics prescription, as per the UK’s journal named British Dental Journal. All these facets are predicted to upsurge the market growth during the coronavirus pandemic.
Factors Affecting the Market Growth
The global market growth during the forecasted timeframe is due to inventions in products for the treatment of severe diseases coupled with clinical trials. Also, occurrence of deadly infectious diseases such as HIV/AIDS, pneumonia, malaria, tuberculosis, and much more is predicted to bolster the growth of the global market during the estimated timeframe. Apart from this, heavy investments in the R&D sections by leading biotech companies are estimated to propel the market growth during the timeframe.
However, resistance developed by microbes against antibiotics is estimated to hamper the growth of the global market in the coming years. On the other hand, creation of new antibiotics with the help of technologies such as machine learning, artificial intelligence, and deep learning is anticipated to open up promising opportunities for the market.
Fluoroquinolones Sub-Segment to Gain Most Profits
From the drug class segment, the fluoroquinolones sub-segment is anticipated to flourish during the forecasted years. The sub-segment is estimated to reach $10,143.1 million by 2027, rising from a market share of $6,823.1 million in 2019, at a CAGR of 5.2% during the estimated timeframe. Fluoroquinolones come with ample benefits such as broad spectrum microbial activity and huge volume distribution. This aspect is predicted to boost the sub-segment market growth during the estimated timeframe.
Broad Spectrum Sub-Segment to Reach New Heights
Amongst the spectrum segment, the broad spectrum sub-segment is expected to cross $52,366.7 million by 2027, growing from a market size of $38,018.1 million in 2019, at a healthy CAGR of 4.2% during the analyzed timeframe. The growth of the sub-segment is due to the increase in the occurrence of infectious disorders, rise in the healthcare expenditure in the countries such as Brazil, India, and Singapore, and innovative inventions of antibiotics by players.
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The major regions of the market include LAMEA, Europe, North America, and Asia-Pacific. From these, the Asia-Pacific region is expected to hold a dominant share and is projected to register a revenue of $19,932.6 million by the end of 2027, at a significant CAGR of 4.7% during the analyzed timeframe. Launch of various government programs and initiatives of the Asia-Pacific countries are projected to bolster the growth of the market in the region.
Major Key Players of the Market
The prominent players of the global antibiotics market are -
Eli Lilly and Company
Janssen Global Services, LLC
Bristol-Myers Squibb Company
Astellas Pharma Inc.
These prominent players of the market are concentrating on several business strategies like investments in the research & development and technological advances for the market growth. For instance, in November 2020, MSD, a pharmaceutical company, launched Recarbrio in the United Kingdom which is a combination of antibiotics. This product works best against the infections caused by the Gram-negative bacteria.
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