by Antibiotics are commonly prescribed medicines used to treat and prevent bacterial infections in humans and animals by either killing or inhibiting the growth of bacteria. The growing prevalence of antibiotic-resistant bacteria is making many commonly used antibiotics ineffective and threatening global health.
The global Antibiotics Market is estimated to be valued at US$ 53803.25 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The incidence of antibiotic-resistant bacterial infections has grown significantly in the past few decades primarily due to the overuse and overprescription of antibiotics. According to the World Health Organization (WHO), antibiotic resistance is one of the biggest threats to global health. As antibiotic-resistant strains of bacteria emerge and spread globally, the need for new antibiotics to combat drug-resistant microbes has increased tremendously. The growing antibiotic resistance is propelling the development and demand for novel antibiotics with new mechanisms of action that can overcome resistance and treat multidrug-resistant bacterial infections effectively.
SWOT Analysis
Strength: The antibiotics market has a strong presence in North America and Europe due to growing prevalence of diseases and increasing demand for advanced medical treatment.
Weakness: High dependency on China and India for active pharmaceutical ingredients and drug intermediates can pose supply risks.
Opportunity: Growth opportunities exist in developing countries of Asia Pacific and Latin America driven by increasing healthcare spending, rising standards of living and large patient pools.
Threats: Emergence of antibiotic-resistant microbial strains threatens the efficacy of existing antibiotics thereby raising development costs for new drugs. Stringent regulations for new drug approvals also act as a barrier.
Key Takeaways
The Global Antibiotics Market Size is expected to witness high growth over the forecast period driven by rising incidence of infectious diseases. The global Antibiotics Market is estimated to be valued at US$ 53803.25 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
The North America region currently dominates the market owing to growing prevalence of diseases and increasing demand for advanced medical treatment. The Asia Pacific region is expected to grow at the fastest pace during the forecast period on account of rising healthcare spending, growing patient population and improving access to healthcare facilities across developing countries. China and India are the major markets in the region owing to their large population base and presence of generic drug manufacturers.
Key players: Key players operating in the antibiotics market are Diageo plc, Brown-Forman, Pernod Ricard, Bacardi Limited, Suntory Holdings Limited, Asahi Group Holdings, Ltd., Anheuser-Busch InBev, E. & J. Gallo Winery, Constellation Brands, Inc. These players are focusing on new product launches, partnerships and geographical expansion to consolidate their market position.
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