Factors such as growing number of contagious diseases, increasing expenditure for research and development can propel the market over the forecast period (2011 to 2022). In addition, increasing demand for generic drugs is also expected to boost the market growth.
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Use of these antibiotics in the treatment of various bacterial infection is expected to boost the market. The penicillin drugs are being used in treatment of several diseases like meningitis, throat disease, among the others. streptomycin can be used in the treatment of Tuberculosis. Antibiotics can also offer benefits in highly complex medical procedures like organ transplantations. In addition, innovations and development of new products and use of these drugs in cell culture as ant-bacterial agent is expected to spur the market in the coming years. Furthermore, growing awareness and increasing efforts by government and non-government organizations for controlling the infections caused due to bacteria among the individuals are also expected to create positive outlook for the market. Incorporation of penicillin and streptomycin systems with latest technologies and implementation of cloud-based services are likely to create more opportunities in the market.
However, government rules, patent expiry issues, and growing cases of anti-microbial resistance are act as a major challenge for the market. In addition, development of new antibiotics with less adverse effects as compared with these drugs are also expected to hinder the market growth. Worldwide penicillin and streptomycin market can be segmented on the basis of product and region.Based on product, the market can be split into dosage and bulk.
Geographically, the penicillin and streptomycin market can be divided into North America, Europe, and Asia Pacific. Asia Pacific has been dominating the market and likely to continue this trend over the forecast period. This growth can be associated due to presence of large number of manufacturers and major generics manufacturers in the region. In addition, high prevalence of bacterial infections including Clostridium difficile and MRSA infections and increasing awareness among the patients are the key driving factors for the regional growth. Countries such as India and China are expected to increase product demand due to high incidence of infectious disease in the region. Large population base, growing development of healthcare infrastructure, high disposable income, and increasing health awareness can boost the market in these countries.
North America is likely to exhibit steady growth over the forecast period due to factors such as market saturation, generic infiltration and reduced drug lifecycles, and expiration of many patent. However, rising geriatric population, increasing R&D capabilities and use of these drugs in cell cultures is expected to boost the market in the region.
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Europe is likely to grow on account of growing government investments and initiatives for enhancement of healthcare facility. Key players operating in the penicillin and streptomycin market include Gilead Sciences Inc.; Astellas Pharma Inc.; Merck & Co., Inc.; MiddleBrook Pharmaceuticals, Inc.; and Astra Zeneca.
For instance, Recently, the European Medicines Agency (EMA) cleared Zavicefta (ceftazidime and avibactam), which is developed by Pizer Inc. The drug is intended to treat serious Gram-negative bacterial infections. The new drug is combination of developed cephalosporin with a new beta lactamase inhibitor intended to overcome one of the important resistant mechanisms that decrease the usefulness of the beta lactam class of antibiotics. It also includes penicillin derivatives such as monobactams and carbapenems.
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