The global antibiotic market is projected to grow at a CAGR of 2.89% to reach a market value of US$69.970 billion by 2024. The global antibiotics market is poised to grow at a sustainable rate in the forecast period due to the prevalence of microbial infections, growing research and development investment, rising healthcare expenditure and growing pharmaceutical industry. North America and Europe are expected to hold a significant market share due to the early adoption of innovations, the highest healthcare spending of the United States and the presence of major industry players in these regions. However, rising concerns of antibiotic resistance may hinder the market growth during the forecast period.
DRIVERS
Prevalence of microbial infections
Growing pharmaceutical industry
Increasing health expenditure worldwide
RESTRAINTS
Stringent regulatory procedures regarding approval of drugs and medical devices
Growing concerns regarding antibiotic resistance
INDUSTRY UPDATES
On June 25, 2019, Abbvie Inc. the company announced that it has entered into a definitive agreement with Allergan regarding its acquisition. The company will acquire Allergan in a cash transaction of USD 63 billion (approximately).
Pfizer, Inc., in its 2017-18 annual report announced that the company continues to lead the antibiotic industry and comprises of having the widest product portfolio for anti-infectives. In addition, the company is making certain strategic investments for the development of new therapies in the future.
Major industry players profiled as part of the report are GlaxoSmithKline plc., Pfizer Inc., Novartis Pharmaceuticals Corporation, AbbVie Inc., Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd., MELINTA THERAPEUTICS, INC., Cipla Inc., Sun Pharmaceutical Industries Ltd., and Dr. Reddy’s Laboratories Ltd.
Segmentation
The global antibiotic market has been analyzed through following segments:
By Type
Penicillin
Cephalosporins
Macrolides
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
