World over, the incidence of bacterial infections is growing at a significant rate. Numerous bacterial infections such as respiratory infections, urinary tract infections, skin infections, and tuberculosis, are turning into a global burden. For instance, according to the World Health Organisation (WHO), approx. 1.4 million individuals have lost their lives to tuberculosis in 2019 and the infection is listed in the top 10 causes of mortality worldwide. This, in turn, has pushed the key industry participants to develop advanced antibiotics. In addition to this, respiratory infections are also becoming highly prevalent. Witnessing this, major players have accelerated their effort to develop new antibacterial drugs. Such a favourable landscape is set to unlock new growth and novel opportunities for the global antibiotics market in the upcoming years.
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Increased RD Activities to Create Positive Dynamics for Global Antibiotics Market
Due to surge in demand, manufacturers in the global antibiotics industry are rapidly advancing toward rigorous RD to develop new and effective therapies for treating infectious diseases. In addition to this, several pharmaceutical firms are also embracing strategic collaborations in order to mitigate the cost burden of the overall drug development process. Furthermore, the rise in public-private partnerships, where public agencies provide funding and innovative RD resources to develop antibiotics, is expected to widen the product pipeline. Meanwhile, in order to expedite the approval and research funding processes, government authorities worldwide are introducing favourable regulatory policies. All these trends are projected to provide impetus to the global antibiotics market growth over the forecast period.
Focused Efforts to Counter AMR Stimulates Antibiotics Market Expansion
In recent times, the prolonged use of different antimicrobial drugs has led to the development of antimicrobial resistance (AMR) in patients. To prevent AMR from turning into a major mortality cause, the regulatory authorities are accelerating drug development efforts. International health organisations such as WHO are also taking cognizance of several fungal infections and consequent AMR cases. As a result of this, biopharmaceutical companies are investing in the development of advanced and effective combination treatments to lessen the impact of antimicrobial-resistant infections. Against this backdrop, the global antibiotics industry is projected to witness robust expansion in the foreseeable future.
North America to Lead Global Antibiotics Market Based on Growing Prevalence of Tuberculosis
Developed economies in North America are experiencing increased demand for antibiotics. This is due to the growing prevalence of infectious diseases in the region. Owing to their busy schedules, individuals prefer taking antibiotics for immediate relief. Moreover, with the rise in the geriatric population, the cases of tuberculosis are also growing at a rapid rate. Furthermore, other key factors such as superior healthcare infrastructure, healthcare spending, stable growth in GDP per capita and rising investments in research and drug development in North America continue to complement the growth of the antibiotics industry in the region.
Prominent Market Players
Some of the leading players in the global antibiotics market include Merck Co. Inc., Abbott Laboratories, Bayer AG, Pfizer Inc., GlaxoSmithKline PLC, Novartis AG, Astellas Pharma Inc., Sanofi, and Bristol-Myers Squibb Company.
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