World Antibiotics Market Growth, Trends, and Forecasts Report 2019-2024 - Emergence of Anti-MRSA/VRE Drugs & Development of Generic Drugs - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 1, 2019--The “Antibiotics Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The global antibiotics market was valued at USD 42,653.89 million in 2018, and is estimated to be valued at USD 56,369.92 million in 2024, witnessing a CAGR of 4.7%.
Certain factors that are driving the market growth include the emergence of anti-MRSA drugs, development of generic drugs, and vulnerable aging population.
A company that initially produced the patented drug tries to generate maximum revenue before the patent expires. Once the patent expires, there will be many competitors who begin manufacturing the generic formulations. They have the same composition and same pharmacological activities as of the original drug. Almost 80% of the prescription antibiotics are generic. As a result of this, the price is reduced. More people can afford drugs, thus, resulting in improved healthcare outcomes. However, indiscriminate drug usage also leads to drug resistance and other complications.
Scope of the Report
As per the scope of the report, antibiotic medicines are among the most prescribed courses worldwide, in fighting bacterial infections, primarily in outpatient settings.
Key Market Trends
Carbapenems are Expected to Show Rapid Growth in the Future.
The cephalosporin segment is expected to account for the largest market size during the forecast period. Carbapenems are expected to witness the highest CAGR of around 5.9% during the forecast period.
The rising threat of drug resistance and a weak pipeline of new molecules are leading to the development of combinational formulations. For instance, in countries, like India, the emergence of multi-drug-resistant tuberculosis (TB) is a major factor driving the R&D expenditures.
Methicillin-resistant Staphylococcus aureus (MRSA) is another bacterium responsible for several infections in humans that are difficult to treat. The MRSA infection is difficult to treat with standard antibiotics, such as penicillins (methicillin, dicloxacillin, nafcillin, and oxacillin), and the cephalosporins. In 2014, the US Food and Drug Administration (FDA) approved four new antibiotics for the treatment of infections caused by gram-positive bacteria, including MRSA.
North America is Expected to Dominate the Market in the Forcasted Period
North America currently dominates the market for antibiotics and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the increased adoption of antibiotics. The United States holds the majority of the market in the North American region, due to the fact that the United States has the highest antibiotic prescribing rate in the North American region. In addition, there is a rise in per capita health expenditure in the country, which is expected to increase over the forecast period, owing to decrease in the unemployment rate.
The antibiotics market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence, by introducing new products with less prices.
Companies, like Glaxosmithkline, Pfizer PLC, Bayer AG, Novartis AG, and Abbott Inc., hold significant market shares in the antibiotics market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Emergence of Anti-MRSA/VRE Drugs
4.2.2 Development of Generic Drugs
4.2.3 Vulnerable Aging Population
4.3 Market Restraints
4.3.1 Antibiotic Resistance
4.3.2 Fewer Companies Involved in Active Research
4.3.3 Time Taken for Regulatory Approval
4.4 Industry Attractiveness of Porter’s Five Forces Analysis
5 Market Segmentation
5.1 By Product Type
5.1.8 Other Product Types
5.2 By Spectrum
5.2.1 Broad-spectrum Antibiotics
5.2.2 Narrow-spectrum Antibiotics
6 Competitive Landscape
6.1 Company Profiles
6.1.1 GlaxoSmithKline PLC
6.1.2 Johnson & Johnson Inc.
6.1.3 Merck & Co. Inc.
6.1.4 Pfizer Inc.
6.1.5 Bayer Healthcare AG
6.1.6 Novartis AG
6.1.7 Sanofi SA
6.1.8 Abbott Laboratories
6.1.9 Roche Holding AG
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/3rl2rm/world_antibiotics?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190401005363/en/
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Related Topics:Infectious Diseases Drugs,Antibiotics
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SOURCE: Research and Markets
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PUB: 04/01/2019 05:57 AM/DISC: 04/01/2019 05:57 AM