The global antibiotics market size is expected to reach $ 62.02 billion by 2028, with a CAGR of 5.32% from 2021 to 2028.
The demand for antibiotics is increasing, in part due to the widespread prevalence of infectious diseases. Pneumonia, tuberculosis, lower respiratory tract infections and malaria are common ailments which are also on the increase in recent years. Governments are investing in research initiatives to develop new antibiotics to better fight these debilitating diseases. BARDA, alongside the government, has extended its support by helping companies develop new treatments to speed up patients’ access to new drugs designed for this purpose.
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Some of the major antibiotics players with high market share include Abbott Laboratories, Allergan Plc, and Hoffmann-La Roche Ltd. These players use partnership and collaboration as a key strategy to gain significant market share in order to compete with market leaders.
The main players presented in the report are:
● Abbott Laboratories
● Allergan Plc
● Hoffmann-La Roche SA
● GlaxoSmithKline Plc
● Merck & Co. Inc
● Mylan SA
● Novartis International SA
● Pfizer Inc
● Teva Pharmaceutical Industries Ltd.
The recently published research report on Global Antibiotics Market by Evolve Business Intelligence examines the industry against the background of key aspects of the market including market size and forecast, market share in terms of revenue and volume, key players and SWOT analysis. The market is analyzed on the basis of 4 distinct indications in the chapter on market dynamics: drivers, restraints, key trends and challenges. The sum of these sections together will help you understand what strategies will be the best to adopt in order to thrive in this industry over a few short years. Quantitative analysis includes our actual results from this research study where we have provided additional insight into what our readers can do to seize new opportunities or plan against threats that may hamper the market.
The COVID-19 pandemic has resulted in a disruption in the supply chain leading to lower demand or supply shortages in the Antibiotics market. Travel restrictions and social distancing measures have led to a sharp drop in consumer and business spending and this trend is expected to continue for some time. The trend and end user preferences have changed due to the pandemic and have caused manufacturers, developers and service providers to adopt various strategies to stabilize the business.
The new normal
As businesses recover from the COVID-19 pandemic, they face a new set of priorities. Throughout this crisis, they were forced to deal with changing situations and often failed to achieve their ultimate goals. Now that a cure has been found and the pandemic is fading, they will need to recover from this epidemic by setting new goals for themselves to be successful in the future.
In terms of the impact of COVID 19, the Antibiotics market report also includes the following data points:
● Impact of COVID19 on the size of the antibiotics market
● Trend and preferences of end user / industry / applications
● Government policies / regulatory framework
● Strategy of the main actors to fight against negative impact / post-COVID strategies
● Opportunity in the antibiotics market
Market segment by class with emphasis on market share, consumption trend and growth rate of Antibiotics Market:
o Beta-lactam and beta-lactamase inhibitors
Market segmentation by Drug Origin with an emphasis on market share, consumption trend and growth rate of Antibiotics Market:
o Origin of the drug 4
Market segment by business spectrum with emphasis on market share, consumption trend and growth rate of Antibiotics Market:
o Broad spectrum antibiotic
o Narrow spectrum antibiotic
For more information: https://evolvebi.com/product/antibiotics-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/
Key region / countries covered
● North America (United States, Canada, Mexico)
● Europe (Germany, United Kingdom, France, Italy, Russia, rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, rest of Asia-Pacific)
● Rest of the world (Middle East & Africa and South America)
Asia-Pacific held the largest market share and is expected to register a significant growth rate during the forecast period. This can be attributed to the proliferation of government initiatives for new therapies as well as the increasing prevalence of infectious diseases such as cancer and tuberculosis. In addition, the growing medical tourism and the growing demand for generic drugs also favor the regional market. The Indian and Chinese antibiotic markets are expected to lead the way in the Asia-Pacific region, with heavily unregulated sales and excessive antibiotic consumption contributing strongly to this market share.
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