The antibiotics market includes medications that either kill or inhibit the growth of bacteria. Some common antibiotics include penicillin, amoxicillin, tetracyclines, and sulfonamides. These drugs are prescribed to treat bacterial infections such as pneumonia, urinary tract infections, skin infections, sexually transmitted diseases, and some foodborne illnesses. Antibiotics are generally produced through a fermentation process where fungi or bacteria synthesize antibacterial compounds.
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 Dynamics
One of the key drivers for the growth of the antibiotics market is the rising prevalence of infectious diseases globally. According to the World Health Organization (WHO), infectious diseases account for around 26% of total global deaths annually. Growing prevalence of pneumonia, tuberculosis, HIV/AIDS, and malaria in developing regions is propelling the demand for antibacterial drugs. Moreover, technological advancements and new product launches are also fueling the antibiotics market growth. However, increasing microbial resistance poses a challenge for sustainable market growth. To counter resistance, manufacturers are increasingly focusing on developing novel antibiotics with new mechanisms of action.
Segment Analysis
One major segment dominating the antibiotics market is penicillin. Within penicillin, semi-synthetic penicillin holds a major share of around 70% as they are effective against both gram-positive and gram-negative bacteria. They are also less expensive than other synthetic antibiotics and hence widely prescribed by physicians.
PEST Analysis
Political: The government plays a key role in regulating and monitoring the antibiotics market. It issues guidelines on the use of antibiotics to prevent antimicrobial resistance. Various policies aim to promote R&D of novel antibiotics.
Economic: The antibiotics market is expected to grow steadily due to rising incidence of infectious diseases and increasing healthcare spending globally. However, stringent regulations can negatively impact revenues of companies.
Social: Growing awareness about antimicrobial resistance and judicious use of antibiotics influence consumption patterns. Physicians prescribe antibiotics judiciously depending on infection type and patient history.
Technological: Major players focus on developing novel drug delivery systems and advanced fermentation technologies to manufacture complex antibiotics effectively. Rapid diagnostics help identify infections early and optimize antibiotic treatment.
Key Takeaways
The global antibiotics market share is expected to witness high growth due to the rising prevalence of infectious diseases worldwide.
Regional analysis: The Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to the large patient pool, increased healthcare spending, and presence of generic drug manufacturers in the region. India and China are emerging as major generic drug producers.
Key players operating in the antibiotics market are: Odo, SuiteCRM, VTiger , Salesforce, Zoho, HubSpot, Pipedrive, Insightly, Base, Apptivo, Nutshell, Really Simple Systems, Teamgate and Bitrix24. These players are focusing on frequent new product launches and adopting collaborative strategies to strengthen their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
