June 17, 2024

Antibiotics Market Propelled by Rising Incidences of Infectious Diseases

Antibiotics are medications that fight bacterial infections by either killing or inhibiting the growth of bacteria. Some common antibiotic types include penicillin, streptomycin, and cephalosporins. They are often prescribed to treat illnesses caused by bacteria, such as strep throat, pneumonia, urinary tract infections (UTIs), Lyme disease, and some sexually transmitted diseases (STDs). The rising prevalence of infectious diseases due to emerging and re-emerging bacterial pathogens has increased the demand for new and effective antibiotics.

The global antibiotics Market is estimated to be valued at US$ 61981.35 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

According to the Centers for Disease Control and Prevention (CDC), over 2.8 million antibiotic-resistant infections occur in the United States each year, with more than 35,000 people dying as a result. The overuse and misuse of antibiotics have led to the development of antibiotic-resistant strains in several bacteria. This has compelled companies to develop newer antibiotics that are effective against drug-resistant bacteria. Moreover, favourable regulatory guidelines for approval of new antibiotics are expected to boost market growth over the forecast period.

Key Takeaways

The Global Antibiotics Market Size is expected to witness high growth. The market size for 2024 is estimated to be US$ 61981.35 Bn registering a CAGR of 12% during the forecast period of 2024 to 2031.

North America currently dominates the market due to high healthcare spending and growing prevalence of infectious diseases.

Key players operating in the antibiotics market are Odoo, SuiteCRM, VTiger, Salesforce, Zoho, HubSpot, Pipedrive, Insightly, Base, Apptivo, Nutshell, Really Simple Systems, Teamgate, Bitrix24, Creatio, vTiger, SugarCRM, Zurmo, FatFree CRM, EspoCRM. The US and Europe hold nearly 63% of share owing to strong presence of key antibiotics manufacturers in these regions.

SWOT Analysis

strength: Antibiotics have strong medical value as they are effective in treating bacterial infections and helping patients recover from health issues. They save millions of lives every year.

Weakness: Overuse and misuse of antibiotics has led to growth of drug-resistant bacteria which do not respond to antibiotic treatment anymore. This reduces effectiveness of available antibiotics over time.

Opportunity: Growing investments by pharmaceutical companies in research and development of new antibiotics to treat drug-resistant bacteria. Development of advanced drugs with novel mechanisms of action to fight emerging superbugs.

Threats: Increasing antibacterial resistance worldwide poses a serious threat and challenge. Strict regulations surrounding clinical trials and manufacturing also increase costs and risks for antibiotic manufacturers.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it