Antibacterial Drugs Market Size will Observe Substantial Growth by 2024
Transparency Market Research (TMR) has published a new report titled, ‘Antibacterial Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global antibacterial drugs market was valued at US$ 46.37 Bn in 2018 and is projected to expand at a CAGR of 1.5% from 2019 to 2027.
- An antibiotic is a type of antimicrobial substance active against bacteria and is the most important type of antibacterial agent for fighting bacterial infections. Antibiotic medications are widely used in the treatment and prevention of such infections. Antibacterial drugs stop bacterial infections in two ways: they prevent bacteria from dividing and increasing in number, or they kill the bacteria
- North America dominated the global antibacterial drugs market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, increasing prevalence of infectious diseases, and introduction of the novel products are expected to drive the market in North America.
- Asia Pacific is likely to be a highly lucrative market and it is expected to expand at a high CAGR during the forecast period due to increasing patient population, initiatives by the government in healthcare sector, rising geriatric population and growing incidence of infectious diseases
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Various Growth Strategies, such as Product Launch & Approvals, Acquisitions, Collaborations, etc. to Drive Market
- In November 2019,Allergan plc (AGN) announced the U.S. Food and Drug Administration (FDA) has granted Qualified Infectious Disease Product (QIDP) Designation and Fast Track Designation for ATM-AVI (aztreonam and avibactam), for the treatment of complicated intra-abdominal infections (cIAI), complicated urinary tract infections (cUTI), and hospital-acquired bacterial pneumonia (HABP)/ventilator-associated bacterial pneumonia (VABP). ATM-AVI is an investigational, fixed-dose, intravenous combination antibiotic under development globally.
- InMay 2019, Civica Rx, a nonprofit drug company, announced that it had entered in an agreement with a Danish drugmaker Xellia Pharmaceuticals to make available injected forms of vancomycin and daptomycin, two antibiotics that are often in short supply.
- In January 2019, Locus Biosciences Inc., a biotechnology company developing precision antibacterial therapies, announced that it has entered into an exclusive collaboration and license agreement with Janssen Pharmaceuticals, Inc. (Janssen), one of the companies of Johnson & Johnson, to develop, manufacture and commercialize CRISPR-Cas3-enhanced bacteriophage (“crPhage™”) products targeting two key bacterial pathogens for the potential treatment of infections of the respiratory tract and other organ systems.
B-lactam Segment to Dominate Market
- Based on drug class, the global antibacterial drugs market is classified into B – lactams, quinolones, macrolides, tetracycline, aminoglycoside, sulfonamide, phenicols, and others. The B- Lactam segment dominated the antibacterial drugs market with the largest market share in2018 followed by macrolides segment. The B – lactam segment is also expected to grow by a remarkable growth rate during the forecast period, due to the high use of penicillin.
- Moreover, Beta-lactam antibiotics are one of the most commonly prescribed drug classes with numerous clinical indications.
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Enteral is the most preferred route of administration
- In terms of routes of administration, the global antibacterial drugs market has been segmented into enteral, parenteral and others. The enteral segment is expected to witness the largest market share in 2018 in the antibacterial drugs market
- Enteral administration has the advantages that it is possible to give quite large amounts of non-sterile substances or solution and that a pH as low as 3 can be administered by this route
Drug Stores and Retail Pharmacies to Dominate Market
- On the basis of distribution channel, the global antibacterial drugs market has been segmented into hospital pharmacies, drug stores and retail pharmacies and online sales.
- The retail pharmacies and drug stores segment held the largest market share in 2018 and is anticipated to grow by a significant rate during the forecast period, due to the increasing number of retail drugs stores, and the availability of antibacterial drugs through retail pharmacies and drugs stores.
North America to Dominate Global Market
- In terms of region, the global antibacterial drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global antibacterial drugs market in2018, followed by Europe.
- North America accounted for major share of the global antibacterial drugs market in 2018, owing to increase in prevalence of infectious diseases, rise in research and developmental activities, presence of well-established healthcare sector, presence of large number of key players in the region
- The antibacterial drugs market in Asia Pacific is anticipated to expand at a high CAGR from 2019to This can be attributed to rapid economic growth in developing economies such as India, China, Indonesia, Vietnam, South Korea, and the Philippines. Increasing patient population, rising incidences of infectious diseases, growing number of government initiatives, and increasing interest of key player are the factors responsible for fuelling the growth of the antibacterial drugs market in the region
- The Key players of the global antibacterial drugs market include Bayer AG, Pfizer Inc., Sanofi, GlaxoSmithKline plc., Merck & Co., Inc., AstraZeneca, Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, Novartis AG, and Allergan, among others
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