Antibiotics Market to Reach USD 45.30 Billion in 2028

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The global “antibiotics market” is set to gain impetus from the rising development of novel combination therapies by biopharmaceutical companies, mainly because of the surging awareness of antibiotic-resistant infections. Allecra Therapeutics GmbH, for instance, is currently developing cefepime/enmetazobactam for treating complex resistance issues. This information is given by Fortune Business Insights™ in a published report, titled, “Antibiotics Market, 2021-2028.” As per the report, the market size was USD 37.35 billion in 2020. It is projected to grow from USD 38.08 billion in 2021 to USD 45.30 billion in 2028 at a CAGR of 2.5% during 2021-2028.

Industry Developments-

  • May 2021: Sandoz announced its plan to expand production capabilities of antibiotics in Palafolls and Kundl. It aims to enhance its ability to provide premium-quality medications to patients, while remaining competitive in terms of cost in the industry.
  • July 2019: Pfizer Inc. and HERTFORDSHIRE, England & PITTSBURGH & Mylan N.V. agreed to combine Upjohn and Mylan to develop a new company. This development would help them to augment their business and deliver high-quality medicines to patients.

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Drivers & Restraints-

Increasing Cases of Urinary Tract Infection to Drive Growth

The rising prevalence of multiple bacterial infections, such as skin infections, Urinary Tract Infection (UTI), tuberculosis, and respiratory infections worldwide is set to propel the antibiotics market growth in the near future. At the same time, the increasing burden of bacterial infections is anticipated to be the most common cause of death by 2050. As per the World Health Organization, around 50% of women have suffered from UTI at some point of their lives. However, the extended usage of broad-spectrum antibiotics can often cause antimicrobial resistance (AMR). It may hamper their demand.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

https://www.fortunebusinessinsights.com/antibiotics-market-104583

Segments-

PenicillinSegment Held 29.7% Share in 2020: Fortune Business Insights™

By drug class, this market is divided into penicillin, cephalosporin, aminoglycosides, tetracycline, macrolides, fluoroquinolones, sulfonamides, and others. Out of these, the penicillin segment generated 29.7% in terms of the antibiotics market share in 2020 and remained in the leading position. The surging usage of penicillin in numerous developed and emerging nations would boost growth. The European Centre for Disease Prevention and Control (ECDC), for instance, stated that penicillin was the most frequently used antibiotic, ranging from 33% (Germany) to 67% (Slovenia).