Antibiotics Market To Reach USD 71.5 Billion By 2032, Says DataHorizzon Research
A comprehensive study on the antibiotics market. Rise in the prevalence of infectious diseases to elicit the antibiotics research.
Fort Collins, Colorado, Oct. 10, 2023 (GLOBE NEWSWIRE) — According to DataHorizzon Research, the antibiotics market size was valued at USD 42.1 Billion in 2022 and is expected to have a market size of USD 71.5 Billion by 2032 with a CAGR of 5.5%.
Antibiotics are chemicals or drugs (secondary metabolites) used to treat an infectious disease, either by inhibiting or killing the growth of pathogens in vivo at low concentrations. Antibiotics can eliminate the disease-causing microbes in a host’s body in the right amounts. Antibiotics should be taken only when necessary, as overuse or misuse can lead to antibiotic resistance. Antibiotic resistance means bacteria gain the ability to resist the ability of antibiotics to kill pathogens. Antibacterial-resistant illnesses can be hazardous and even fatal.
Diseases such as the plague, whooping cough, diphtheria, and leprosy can be effectively treated with antibiotics, saving countless lives globally. Antibiotics are widely used in healthcare and are considered essential medicines. Moreover, antibiotics are effective only in treating bacterial infections and ineffective against viral infections; therefore should be used under the guidance of healthcare professionals.
The increasing prevalence of bacterial infections plays a crucial role in boosting the growth of the antibiotics market. Bacterial infections such as skin infections, urinary tract infections, gastrointestinal infections, and others can be easily treated with the help of antibiotics. Additionally, antibiotic resistance is one of the major concerns, as more bacteria develop resistance to the medicine. Therefore, there is a dire need for new formulations of antibiotics to combat drug-resistant strains.
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The global antibiotics market has been segmented into drug type, route of administration, application, distribution channel, and region. Parental is the leading route of administration and is expected to remain dominant in the following years owing to the rising technology and dosage distribution. Online pharmacy is dominant and is projected to account for a significant market share in the following years. Asia Pacific is the leading region owing to the high prevalence of infectious diseases, poor sanitation, and pollution.
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Antibiotics Market Report Highlights:
- The global antibiotics market growth is anticipated at a CAGR of 5.5% by 2032.
- The growing prevalence of seasonal diseases significantly drives the antibiotics market growth. In addition, the demand for advanced antibiotics to treat acute and chronic diseases has been driving its sales.
- Penicillin dominates the drug class segment attributed to its significance in treating several bacterial infections.
- The respiratory infection segment accounted for a significant share in 2022. It is the most common infection globally, with a huge demand for several therapies.
- Some prominent players in the antibiotics market report include Sun Pharmaceutical Industries, Inc., Sanofi SA, Pfizer Inc., Bayer AG, Novartis AG, GSK plc, Teva Pharmaceutical Industries Ltd., Assertio Therapeutics, Inc., Janssen Pharmaceuticals, Inc. (Johnson and Johnson), Bausch Health Companies, Inc., Bristol Myer’s Squibb, and Eli Lily.
Industry Trends and Insights:
- In October 2021, Sandoz, a Novartis division, purchased cephalosporin antibiotics, a division of GSK. It has strengthened its position as the world’s leading antibiotics company by acquiring the rights to three well-known brands named Zinnat, Zinacef, and Fortum across several markets.
- In 2023, the Centers for Disease Control and Prevention (CDC) announced funding of USD 262 million for the next five years to 13 recipients, including hospitals, clinics, and universities, to establish a response network for public health emergencies.
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Antibiotics Market Segmentation:
- By Drug Class: Penicillin, Cephalosporin, Aminoglycosides, Tetracycline, Macrolides, Fluoroquinolones, Sulfonamides, and others.
- By Application: Skin, respiratory, urinary tract, septicemia, ear, and gastrointestinal infections.
- By Route of Administration: Oral, parental, and others.
- By Distribution Channel: Hospital pharmacies, retail pharmacies, and online pharmacies.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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