July 21, 2024

Antibiotics Market Propelled By Rising Awareness Regarding Antibiotic Resistance

Antibiotics are medicines used to prevent and treat bacterial infections. They either kill or inhibit the growth of bacteria by interfering with vital processes like cell wall, protein or DNA synthesis.The global antibiotics market is widely used across various therapeutic areas like respiratory, gastrointestinal, genitourinary tract infections and others. easy accessibility and affordability has increased their consumption over the years. The global antibiotics market is estimated to be valued at US$53803.25 Mn in 2023 and is expected to exhibit a CAGR of 12 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: Rising awareness regarding antibiotic resistance and over-prescription has influenced doctors and patients to consider alternatives like natural therapies and adopt preventive care. This has prompted pharmaceutical companies to invest more funds in R&D for developing novel drug classes that target new bacterial mechanisms and pathways. They are also exploring synergistic combinations that can overcome resistance. Regulatory bodies worldwide are also engaged in antibiotic stewardship programs aimed at rational prescription and conservation of existing drugs for future needs. Such initiatives are expected to drive structural changes in the antibiotics market over the coming decade.

SWOT Analysis
Strength: Antibiotics have been effective in treating various bacterial infections for decades. They provide a reliable treatment option against pathogens.

Weakness: Overuse and misuse of antibiotics has led to antimicrobial resistance, reducing their effectiveness. There is also a lack of new antibiotic drug development.

Opportunity: Rising prevalence of infectious diseases globally increases the need for effective antibiotic treatment options. Emerging economies offer high growth potential.

Threats: Stringent regulations for drug approval delays market entry of new products. Growing preference for alternative treatment modalities also threatens antibiotics market.

Key Takeaways

The global antibiotics market demand is expected to witness high growth over the forecast period.

Regional Analysis: The North American region currently dominates the market owing to high healthcare expenditure and presence of key players. The Asia Pacific region is expected to grow at the fastest pace due to rising cases of infectious diseases and improvements in healthcare infrastructure in emerging countries.

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. These players are focusing on new product approvals and launches to strengthen their market position.

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