Antibacterial Drugs Market: Product Differentiation through Various Methods to Power Growth Rate until 2023
Other players that could make the cut in the global antibacterial drugs market could be Eli Lilly and Company, Bristol-Myers Squibb Company, Bayer AG, and AstraZeneca plc. They have been predicted to participate in constant market competitions and secure a global presence in the pharmaceutical sector.
The global antibacterial drugs market, according to TMR, could expand at a CAGR of 1.30% between 2015 and 2023 to achieve a revenue valuation of nearly US$38.9 bn by the final forecast year. Although β-lactams had dominated the market in the past with a larger share, the drug class could lose its share to miscellaneous antibacterials, which are projected to rise at a higher growth rate during the forecast period. Apart from leading the market currently, Asia Pacific could showcase its supremacy by growing at a faster pace in the coming years.
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The authors of the report have analyzed the world antibacterial drugs market to garner a handsome demand on the back of the trend of product differentiation ensured using different methods. There could be more factors propelling the demand for antibacterial drugs, such as rising research and development activities, government support, and significant occurrence of infectious diseases. The elevating count of multidrug resistant bacterial strains, surging demand for economical and efficient antibacterial drugs, and swelling geriatric population size could also contribute to the growth of the market. Furthermore, the advancement of novel treatments or innovative molecules has been foreseen to up the growth rate of the market.
Developing markets for antibacterial drugs such as Asia Pacific could offer growth prospects while gaining support from several favorable factors. Improving healthcare infrastructure, enlarging purchasing power of domestic consumers, and the presence of a tall count of manufacturers dealing with generic drugs and active pharmaceutical ingredients (APIs) could help to further the demand in the region.
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Players operating in the international antibacterial drugs market are envisaged to witness a setback in demand due to certain reasons such as approaching patent expirations, launch of generic drugs, and increase in drug-resistant bacterial species. Moreover, increased market maturity could pull back the growth of the market.
However, the international antibacterial drugs market could find lucrative opportunities taking over while riding on a smaller number of side effects, reduced onset of action, and emergence of innovative compounds with enhanced efficacy. The implementation of combination products, monoclonal antibodies (mAbs), and new formulations have been forecasted to create more prospects in the market. With only a handful of drugs patented in the market, players could seize the opportunity to introduce new drugs and make their presence known in the industry.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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