The global antibiotic market is projected to grow at astonishing CAGR during the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for effective drugs, which can be used to treat and prevent bacterial infections is anticipated to propel demand for antibiotics. These antibiotics are likely to either kill or inhibit growth of bacteria to save lives.
Rising cases of bacterial infections such as coughing, fever, inflammation, and diarrhea are expected to influence growth of market. Continual discovery of molecules that can fight antibiotic-resistant bacteria is likely to impel market growth in the forthcoming years. Growing investments in R&D activities by various biotech companies can stimulate growth of market. Favorable government initiatives such Generating Antibiotics Incentives Now (GAIN) Act to support R&D processes can create lucrative opportunities for antibiotic manufacturers. This, in turn, is likely to boost market growth during the forecast period (2018 to 2022).
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To cater to rising demand for antibiotics, most companies are focusing R&D activities to develop new and effective products. For instance, a team of researchers at Pennsylvania State University recently discovered an antibiotic that can target specific set of bad bacteria without harming the good ones. This antibiotic can only target one kind of bacteria called C. difficile, which is likely to be unique and advantaged enough to develop ecological disturbances in human gut.
In another instance, Motif Bio plc recently completed submission of new drug application to United States (U.S.) food and drug administration (FDA) for its new antibiotic named Iclaprim. This antibiotic can treat acute skin and skin structure infections and has already received qualified infectious disease product designation (QIDP) from FDA along with fast track designation.
The antibiotic market can be segregated on the basis of product and region. Based on product, the market can be categorized into chloramphenicol, erythromycin, penicillins, streptomycins, tetracyclines, medicaments containing penicillins, medicaments containing other antibiotics, and other antibiotics.
Regional segmentation includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In Asia Pacific, the market is expected to witness significant growth during the forecast period attributed to rising cases of infectious diseases in the region. In addition, favorable regulatory reforms coupled with high demand for generic medicines can fuel market growth in the region.
In Latin America, the market is likely to grow well in the forthcoming years attributed to growing pharmaceutical sector.
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In North America, the market is expected to grow slow during the forecast period owing to cost-containment issues and economic conditions. Existing pharmaceutical companies are likely to explore other regions such as India, China, and Brazil for better growth opportunities.
Similarly, in Europe, the market is expected to grow well during the forecast period owing to increasing cases of mortality in the region attributed to high prevalence of multi-drug resistant diseases in patients. Huge variation in outpatient antibiotic consumption, variation in class of antibiotics, treatment duration and dosage in European countries is likely to surge demand for new and effective antibiotics in the region.
Some of the leading companies offering antibiotics are Novartis AG; Janssen Pharmaceuticals; Pfizer, Inc.; Abbott Laboratories; and GlaxoSmithKline plc. Generic manufacturers are expected to dominate the market attributed to countable number of patented antibiotics available in the market. Most companies are likely to adopt strategic initiatives such as new product development and mergers & acquisitions to maintain their market value.
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