The global antibiotics market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026. The pharmaceutical industry manufacturers innovate, and markets licensed drugs which are integral and effective for improved healthcare facilities. With the general mass becoming more health conscious, nutritional supplements have taken a significant share of the healthcare sectors, which again are the products of pharmaceutical sectors. Again, medical insurance, which backs up the operations of the healthcare industry, entirely has a notable impact on the growth and the existence of the healthcare industry. With spontaneous service and active participation, medical insurance has turned into primary support for most of the treatments which incur considerable expenses. Facilities such as cashless treatments and TPA are helping patients to enjoy a hassle-free treatment at top-facilitated hospitals.
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Global Antibiotics Market – Market Dynamics
The increasing prevalence of infectious diseases primarily drives the global market for Antibiotics, increased consumption in low and middle-income countries and development of novel approaches for new antibiotics for treating bacterial infections and a large number of clinical trials. According to WHO in 2017, it is estimated that 219 million cases of malaria occurred globally out of which 90% corresponds to WHO African region. According to WHO in 2017, the annual epidemics in seasonal influenza globally estimated that 3-5 million cases of severe illness and about 290,000-600,000 respiratory deaths are observed and it is also estimated the epidemiology might increase in coming years. Moreover, the discovery of advanced prospect molecules and novel combination therapies to treat antibiotic-resistant microbial infections are opportunities for promoting the market.
Global Antibiotics Market – Segment Analysis
By drug class, the global market can be classified into penicillin, cephalosporin, fluoroquinolones, carbapenem, macrolides, sulfonamides, aminoglycosides, and others. The carbapenems and cephalosporin market shares are fast growing. It can be attributed to rapidly growing antibacterial resistance, need for a new broad spectrum of agents, and need to control infection in health care settings. Increasing incidence of pneumonia, bloodstream infections, and Urinary Tract Infections (UTI) is anticipated to boost the usage of carbapenem.
Global Antibiotics Market– Geographical Analysis
North America holds a substantial share of the global antibiotics market, and it is primarily attributed to factors such as the high prevalence of infectious diseases. The increased consumption of antibiotics and their easy availability in the region propels the market. For instance, the United States has the highest antibiotic prescribing rate in the area. According to the Centers for Disease Control and Prevention, 2016, healthcare providers prescribed 270.2 million outpatient antibiotic prescriptions in the United States, which is equivalent to 836 antibiotic prescriptions per 1000 persons. Moreover, its broad base of the patient population and the established healthcare infrastructure, rising disposable income, government initiatives such as the Generating Antibiotics Incentives Now (GAIN) Act in the U.S. and higher investment in R&D activities contribute to the growth of North America’s share.
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Global Antibiotics Market– Competitive Analysis
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. FDA approvals along with increased focus on R&D are other ways the leading players improve their market presence. January 2019, The US FDA granted Fast Track designation to ACX-362E, an investigational new treatment for Clostridium difficile infection. The oral antibiotic is being developed by Acurx Pharmaceuticals, LLC, as a targeted, narrow-spectrum antibiotic.
The healthcare sector is developing at a brisk pace owing to its strengthening coverage, excellent services, and rising expenditure by private and public players alike. The adoption of AI in the healthcare sector is on the rise. Through AI-based applications, patients can talk to doctors directly for the best treatment. The modern healthcare industry has seen a paradigm shift in the manner in which patients are treated as now they have inordinate data in their hands, while a right amount of this can be put into good use. In fact, digital transformation and innovation are likely to offer reliable solutions to increase the quality of care as well as, at the same time containing costs.
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