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Aminoglycosides Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033
Aminoglycosides Market
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According to The Business Research Company's, The aminoglycosides market size has grown strongly in recent years. It will grow from $1.77 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to antibiotic discovery and development, advancements in medicinal chemistry, clinical effectiveness in treating gram-negative infections, broad-spectrum antibacterial activity, hospital-acquired infection control, global population growth, post-surgery infection prevention, research and development investments.
The aminoglycosides market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to advancements in antibiotic stewardship, personalized medicine approaches, innovations in drug delivery, global spread of antibiotic-resistant strains, increasing focus on rare diseases, expanding applications in dermatology, patient education on antibiotic use. Major trends in the forecast period include biotechnological innovations, combination therapies, technological advancements in production, price competition.
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Market Drivers and Trends:
The increase in pet ownership is expected to propel the growth of the aminoglycosides market going forward. Pet ownership refers to the act of keeping and caring for animals, commonly referred to as pets, within one's home or living space. Increased pet ownership enhances the Aminoglycoside market by creating a larger customer base, fostering a culture of preventive healthcare for pets, and encouraging investments in veterinary pharmaceuticals to address the diverse health needs of companion animals. For instance, in March 2023, according to Improve International, a US-based veterinary educational resource, there are 38 million pets in 16.2 million UK households, or around 57% of all households. Therefore the increase in pet ownership is driving the growth of the aminoglycosides market.
Process innovation is a key trend in the aminoglycosides market. Major companies operating in the aminoglycosides market are focused on developing new process solutions to strengthen their position in the market. For instance, in September 2021, CPC Biotech, the specialist supplier of enzymes to the pharmaceutical and biotech industries, launched Aminosniper as its unique solution for the inactivation of aminoglycosidic antibiotics. Aminosniper is an enzyme-based product that can be used as a lab reagent belonging to the aminoglycosides class for verifying the sterility of products or surfaces contaminated by antibiotics belonging to the aminoglycosides class.
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Major Key Players of the Market:
Kremoint Pharma Pvt. Ltd., Vega Pharma Ltd., Jiangxi Bolai Pharmacy Co. Ltd., Xian Wison Biological Technology Co. Ltd., Hangzhou Uniwise International Co. Ltd., HuvePharma Inc., Yi Chang Veterinary Medicine Factory, Medson Pharmaceuticals, Medico Remedies Pvt. Ltd., Cipla Limited, Pfizer Inc., Allergan Plc, Teva Pharmaceutical Industries Ltd., Zoetis Inc., Taiwan Fructose Sdn. Bhd., Novartis AG, Johnson & Johnson Inc., Bristol Myers Squibb Company, Sandoz International GmbH, Sun Pharmaceutical Industries Ltd., Zydus Lifescience limited, Lupin Limited, Aurobindo Pharma Limited, Fresenius Kabi AG, Aspen Pharmacare Holdings Limited, Mylan N.V., Sanofi SA, Wyeth Pharmaceuticals Inc., Zhejiang Hisun Pharmaceutical Co. Ltd., GlaxoSmithKline plc
Aminoglycosides Market 2024 Key Insights:
• The aminoglycosides market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Aminoglycosides Market Surges Amidst Escalating Animal Disease Outbreaks
• Process Innovation Emerges As A Pivotal Trend In The Aminoglycosides Market
• Asia-Pacific was the largest region in the aminoglycosides market in 2023
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