Global Antibacterial Drugs Market, by Drug Class (β-lactams, Quinolones, Macrolides, Tetracyclines, Aminoglycosides, Sulfonamides, Phenicols, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 44,612.2 Mn in 2022 and is expected to exhibit a CAGR of 4.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing inorganic activities such as collaboration among market players is expected to drive global antibacterial drugs market growth over the forecast period. For instance, In April, 2021, Venatorx Pharmaceuticals, a pharmaceutical company, and the Global Antibiotic Research and Development Partnership (GARDP) announced a collaboration to accelerate development of and access to cefepime-taniborbactam (formerly cefepime /VNRX-5133) for complicated urinary tract infection.
Global Antibacterial Drugs Market – Impact of Coronavirus (COVID-19) Pandemic
The most recent pandemic is the coronavirus (COVID-19) pandemic, which was initially detected on December 31, 2019, in Wuhan, China. COVID-19 was declared a pandemic by the World Health Organization on March 11, 2020. According to the World Health Organization's Coronavirus Illness (COVID-19) Epidemiological Update, coronavirus disease (COVID-19) caused approximately 527 million cases and 6,290,452 fatalities globally, till May 23, 2022.
Furthermore, the coronavirus or COVID-19 outbreak started in Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. For instance, according to data published by the Organization for Economic Co-operation and Development (OECD) in November 2020, COVID-19 has posed major challenges to the healthcare infrastructure in the Middle East & North Africa region. Some countries such as Lebanon, Morocco, and Tunisia have been severely impacted with regard to overall management of the COVID-19 crisis. Moreover, OECD states that countries such as Iran, Syria, Iraq, Yemen, and Libya faced a lack of hospital beds and low COVID-19 testing capacity.
Browse 40 Market Data Tables and 48 Figures spread through 197 Pages and in-depth TOC on “Global Antibacterial Drugs Market”- Global Forecast to 2030, Global Antibacterial Drugs Market, by Drug Class (β-lactams, Quinolones, Macrolides, Tetracyclines, Aminoglycosides, Sulfonamides, Phenicols, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Moreover, increasing focus of market players on gaining product approvals from regulatory authorities is expected to drive global antibacterial drugs market growth over the forecast period. For instance In March 2020, Strides Pharma Science Limited, a pharmaceutical company had announced that the company’s wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, received approval for Tetracycline Hydrochloride Capsules USP, 250 mg and 500 mg, from the United States Food & Drug Administration (US FDA).
Key Takeaways of the Global Antibacterial Drugs Market:
- Global antibacterial drugs market is expected to exhibit a CAGR of 4.3% during the forecast period, owing to the increasing investments and purchase agreements regarding antibacterial drugs for endocrine diseases by market players in the market, which is expected to drive growth of the global antibacterial drugs market. For instance, in March 2021, CARB-X initiated funding Affinivax, a biotechnology company, to develop a new vaccine that will prevent Staphylococcus aureus (S. aureus) bacterial infections, healthcare-associated infections that are a major health threat particularly to high-risk and older patients. The CARB-X award is worth up to US$ 3.5 million, and could provide up to US$ 18.5 million more, if the project successfully progresses.
- Major players operating in the global antibacterial drugs market include Spero Therapeutics, Allecra Therapeutics, R-Pharm Group, Melinta Therapeutics LLC, MicuRx, TenNor Therapeutics Ltd, Venatorx Pharmaceuticals, Inc., GlaxoSmithKline plc., AstraZeneca , Bayer AG , Johnson & Johnson, Bristol-Myers Squibb Company, Merck & Co., Inc., Eli Lilly and Company, AbbVie Inc., Novartis AG, Pfizer Inc., and Sanofi