Antibacterial Drugs Market Value to touch US$38.9 bn by the end of 2023

A new market research study, titled “Antibacterial Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” has been published by Transparency Market Research. As per the study, in 2014, the global antibacterial drugs market was worth US$43.9 bn. The market is projected to exhibit a 1.30% CAGR between 2015 and 2023, declining in value to touch US$38.9 bn by the end of 2023.

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An antibacterial drug is an antimicrobial agent that interferes with the reproduction and growth of bacteria. The growth of this bacteria can cause severe infections in animals and humans. The administration of antibacterial drugs helps in inhibiting the growth of the bacteria or completely killing it. At present, several antibacterial drugs in different formulations are available and are widely used for treating tuberculosis, legionellosis, like pneumonia, diarrhea, diphtheria, tetanus, and other diseases. Some of the prominent consumers of the global antibacterial drugs market are private clinics, hospitals, patients, and physicians.

The growing prevalence of infections and other diseases across the globe and increasing government support for research and development activities are some of the key drivers of the global antibacterial drugs market. However, the upcoming patent expirations and growth in drug-resistant species are projected to curtail the growth of the market in the coming years. The decline in the markets valuations will primarily be attributable to this negative factor.

In 2014, the β-lactams segment accounted for a 58% share in the global antibacterial drugs market and is estimated to be in the topmost position in the next few years. In the same year, the quinolones segment accounted for a 17% share in the global market and is expected to exhibit negative growth rate in the forecast period. Furthermore, the miscellaneous antibacterial segment is projected to witness significant growth owing to the growing demand for therapies against bacterial infections and rising geriatric population.

The strong pipeline in the global antibacterial drugs market includes RHB-105, Eravacycline, Ozenoxacin, Arikace, Carbavance (meropenem/RPX7009), Surotomycin (MK-4261), SYM-1219, Solithromycin (CEM-101), Plazomycin, Ciprofloxacin/Fluocinolone Acetonide, SPL7013, Actoxumab/Aezlotoxumab, (MK-3415A), Omadacycline (PTK-0796), Zempia (E-101), Cadazolid, Delafloxacin, and Delamanid. The major players are making constant efforts to commercialize these drugs, which is estimated to propel the global antibacterial drugs market in the near future.

At present, Asia Pacific accounts for the largest share in the global antibacterial drugs market and is projected to grow at a fast pace throughout the forecast period. The rapid growth of this region can be attributed to the strong presence of generic pharmaceutical ingredients and generic manufacturers, a growing geriatric population, and expanding population. In addition, the growing incidence of several bacterial infections including MRSA and TB, developing healthcare infrastructure, and rising purchasing power of consumers are some of the other factors anticipated to drive global antibacterial drugs market in the coming years.

Asia Pacific is followed by North America and Europe. These regions are expected to witness sluggish growth throughout the forecast period. The slow-paced growth of the North America and Europe antibacterial drugs markets can be attributed to the strict regulatory requirements, market maturity, and shortened product lifecycle.

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The prominent players engaged in the global antibacterial drugs market include Bayer AG, Forest Laboratories, Inc., Allergan plc, Johnson & Johnson, AstraZeneca plc, Sanofi, GlaxoSmithKline plc, Bristol-Myers Squibb Company, Eli Lilly & Co., Novartis AG, Merck & Co., Inc., and Pfizer, Inc. These players are leading the overall market and witnessing intense competition amongst each other. Among these players, Pfizer, Inc. is considered as a dominant player owing to its significant contribution towards the global antibacterial drugs market.

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This release was published on openPR.