Categories: Healthcare

Antibiotics Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Antibiotics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Antibiotics Global Market Report 2024, The antibiotics market size has grown strongly in recent years. It will grow from $80.01 billion in 2023 to $84.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increased incidence of infectious diseases, growing population and urbanization, rising healthcare awareness, access to healthcare services, prevalence of antibiotic-resistant strains..

The antibiotics market size is expected to see strong growth in the next few years. It will grow to $105.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to global health threats, rising healthcare expenditure, government initiatives and regulations, increased international collaboration.. Major trends in the forecast period include development of oral antibiotics, collaboration and partnerships for antibiotic development, regulatory incentives and pathways, antimicrobial stewardship programs in healthcare, global health initiatives for antibiotic access..

The rising prevalence of bacterial infections is expected to drive the antibiotics market going forward. Bacterial infections refer to infections caused by bacteria, which are microscopic single-celled organisms. Antibiotics are extremely helpful in the treatment and prevention of bacterial diseases because they prevent the growth of bacteria. For instance, in February 2023, according to the World Health Organization, a Switzerland-based specialized health agency of the United States, 30 countries in the world were suffering from a cholera epidemic in 2022. The case fatality ratio (CFR) of cholera was 1.9% in 2021, which was the highest recorded in a decade. Additionally, in April 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, syphilis cases in the United States increased by 32% in 2021 as compared to 2020. As a result, the rising prevalence of bacterial infections is driving the antibiotics market.

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The antibiotics market covered in this report is segmented –

1) By Drug Class: Penicillin, Cephalosporin, Aminoglycosides, Tetracycline, Macrolides, Fluoroquinolones, Sulfonamides, Other Classes

2) By Spectrum Of Activity: Broad-spectrum Antibiotic, Narrow-spectrum Antibiotic

3) By Route Of Administration: Oral, Intravenous, Other Routes

4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy

5) By Application: Skin Infections, Respiratory Infections, Urinary Tract Infections, Septicemia, Ear Infections, Gastrointestinal Infections, Other Applications

New product approvals are the key trends gaining popularity in the antibiotics market. Major companies in the market are receiving regulatory approvals for their novel antibiotic formulations. For instance, in January 2023, Alkem Laboratories Ltd., an Indian-based pharmaceutical company, launched Zidavi. The drug is a combination of ceftazidime and avibactam and is indicated for the treatment of complicated urinary tract infections, intra-abdominal infections, and pneumonia caused by multi-drug resistant (MDR) Gram-negative bacteria. Zidavi is a significant development in the fight against antibiotic resistance, as it is one of the few antibiotics that is effective against MDR Gram-negative bacteria.

The antibiotics market report table of contents includes: