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Antibiotics Market to Surpass US$ 67,874.0 Mn by 2028

Antibiotics Market to Surpass US$ 67,874.0 Mn by 2028 - Coherent Market Insights

Publish In: Nov 04, 2022

Antibiotics are drugs used to treat bacterial infections. Some antibiotics are also used against parasitic infections. This type of drugs help fight bacterial infections in people and animals. Antibiotics either kill bacteria or stop them from reproducing, and help destroy or slow down the growth of bacteria. They are not effective against viral infections, such as the common cold or flu. Antibiotics are important to treat infections and have saved countless lives. However, they can cause side effects and contribute to antibiotic resistance.

Market Statistics:

The Global Antibiotics Market is estimated to account for US$ 51,378.2 Mn in terms of value by the end of 2022.

Global Antibiotics Market Drivers:

High consumption of antibiotics due to increase in prevalence of infectious diseases across the globe is expected to propel the growth of the global antibiotics market over the forecast period. For instance, in June 2020, the U.S. Food and Drug Administration (FDA) approved antibiotic (Recarbrio; a combination of imipenem-cilastatin and relebactam)) to treat hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia. Recarbrio was previously FDA-approved to treat people with complicated urinary tract infections and complicated intra-abdominal infections who have limited or no alternative treatment options.

Global Antibiotics Market Opportunities:

Rise in ageing population around the world is expected to offer significant growth opportunities for players in the global antibiotics market. For instance, with the growing aging population, the burden of infectious diseases is also increasing with a rapid pace worldwide. As a result, the consumption of antibiotics is increasing (has increased) worldwide. According to the World Health Organization (WHO), by 2030, 1 in 6 people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion). This in turn is expected to drive market growth.

Global Antibiotics Market Restraints:

High cost of trials and research, rise in incidence of antibiotic resistance, and longer duration for the regulatory approval ​are major factors expected to hinder growth of the global antibiotics market. For instance, antibiotic resistance is a serious public health problem. It is accelerated by poor infection prevention and control as well as the misuse and overuse of antibiotics. It is one of the most urgent threats to the public’s health. Moreover, antibiotic resistance is among the 10 urgent threats that World Health Organization (WHO) listed for 2019.

To know the latest trends and insights prevalent in this market, click the link below:

Global Antibiotics Market - Impact of Coronavirus (Covid-19) Pandemic :

Outbreak of COVID-19 has had a dual impact on the growth of the global antibiotics market. The pandemic impacted the global supply chain of pharmaceuticals owing to safety measures, such as nationwide lockdown and travel restrictions, to curb the spread of the virus. However, there was increasing demand for antibiotics, as they were initially used to treat COVID-19 and were prescribed and studied as the COVID-19 remedy.

Global Antibiotics Market Key Takeaways:

The global antibiotics market was valued at US$ 49,081.2 Mn in 2021 and is forecast to reach a value of US$ 67,874.0 Mn by 2028 at a CAGR of 4.7% between 2022 and 2028.

Among product type segment Cephalosporin held dominant position in the global antibiotics market in 2021, accounting for 24.2% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

The recent trend in the global antibiotics market is the increase in demand for newer generation of antibiotics and increase in development of safe and effective antibiotics owing to increase in prevalence of infectious diseases across the globe. Antibiotic resistance has become a major global public concern, and thus, there is an increase in demand for new generation antibiotics worldwide. As a result, market players are focusing on developing and launching safe/effective newer generation of antibiotics in the market, and this trend is expected to continue during the forecast period, driving the growth of the market.

Competitive Landscape:

Major players operating in the global antibiotics market include Roche Holding AG, Abbott Laboratories, Sanofi SA, Novartis AG, AstraZeneca, Pfizer Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline, and Bayer Healthcare AG, among others.

Recent Developments:

In October 2021, Otsuka received approval for an additional pediatric indication in Europe. Otsuka has been working on expanding access to DELTYBA worldwide in support of that effort.

In April 2019, Forge Therapeutics, Inc. (Forge) and Basilea Pharmaceutica International Ltd. (Basilea) entered into a research collaboration and license agreement to discover, develop, and commercialize novel antibiotic classes.

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