Global Antibacterial Drugs Market Expected to Reach USD 38.9 Billion Globally in 2023: Transparency Market Research

According to a new market report published by Transparency Market Research “Antibacterial Drugs Market (Aminoglycosides, β-Lactams, Tetracyclines, Sulfonamides, Quinolones/ Fluoroquinolones, Macrolides, Phenicols and Miscellaneous Antibacterials) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023,” the global market was valued at USD 43.9 billion in 2014 and is estimated to reach USD 38.9 billion by 2023 at a CAGR of 1.3% from 2015 to 2023.

Bacterial infections are one of the most common infections globally, causing serious respiratory tract infections, skin infections, urinary tract infections and blood stream infections among others. Their ubiquitous nature, ability to spread rapidly, and development of resistance to antibacterial drugs are major factors responsible for high prevalence throughout the world. Antibacterial drugs market has reached its maturity and is currently declining in spite of introduction of new drugs in the market.

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United States is the preferred destination for many first drug commercialization. Affordability to higher drug prices, large customer base coupled with government incentives for antibacterial drug development have leveraged the market growth in the country. In 2012, the U.S. Senate passed the Generating Antibiotic Incentives Now (GAIN) Act to promote innovation in discovery of novel antibacterial drugs. Since the implementation of the Act, various drugs have received Qualified Infectious Disease Product (QIDP) designation which provides innovators with incentives such as 5 years of market exclusivity eligible for Priority Review by the U.S. FDA, and Fast Track Status. Being the most lucrative market, various generic drug manufacturers are keen to enter the U.S. market with cost effective alternative to major block buster drugs. It is expected that 10 new drugs would be launched in the U.S. in 2016, while 7 new drugs would be launched in 2017.

The European Union is also engaged in promoting antibacterial drug discovery. Innovative Medicine Initiative (IMI) in partnership with the European Union and European pharmaceutical industry is aimed at development of innovative therapeutic alternatives. New Drugs 4 Bad Bugs (ND4BB) initiative undertaken by the IMI is a series of programs which would help in public-private collaborations for new drug development. Till date, three programs have been launched successfully through ND4BB initiative. Increased awareness and availability of better treatment alternatives has resulted in reduction of mortality rate in the western countries. According to statistics published by the U.K. government, annual tuberculosis cases decreased by 200 in 2012. Further the Centers for Disease Control and Prevention (CDC), the U.S. also suggests that prevalence of tuberculosis has remained unchanged since 2010.

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Asia Pacific is expected to be the most attractive regional market in the near future owing to higher population density countries: India and China. Healthcare sector in these countries is rapidly developing, and has emerged as the prime destination for generic drug manufacturers. Extensive use of third generation antibiotics has resulted in limited treatment options for drug resistant infections. Hence there is an urgent need for new treatment options for such serious infections. Brazil is identified as an upcoming market from the rest of the world region. Large and highly concentrated patient pool coupled with favorable regulatory amendments has compelled many pharmaceutical companies to venture in to the Brazilian market. Additionally, reduced cost of clinical trials as compared to the U.S. and other geographic proximities is supporting many pharmaceutical companies to set up their facilities in this region.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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