Antibiotics Market Size Worth $57.99 Billion By 2028 | CAGR 4.5%: Grand View Research, Inc.
SAN FRANCISCO, March 2, 2021 /PRNewswire/ -- The global antibiotics market size is expected to reach USD 57.99 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.5% from 2021 to 2028. High usage of antibiotics and inappropriate prescription behavior of antibiotic drugs worldwide are the major factors anticipated to drive the market. Moreover, rising awareness among patients and healthcare professionals and increasing involvement of regulatory bodies in the R&D activities of new therapies to treat infectious diseases are expected to propel the market growth over the forecast period.
Key suggestions from the report:
- By action mechanism, the cell wall synthesis inhibitors segment accounted for the largest share of 52.1% in 2020 and is anticipated to maintain its lead over the forecast period
- Based on drug class, the cephalosporin segment held the second-largest share in 2020. Pipeline candidates in cephalosporin drug class such as Fetroja (cefiderocol), cefilavancin, and ceftobiprole are anticipated to drive the segment in the forecast period
- The others' drug class segment is expected to grow at the fastest rate during the forecast period. The segment consists of various existing classes of antibiotics as well as some newly developed drugs, such as tetracycline, carbapenem, imidazole, peptides, lincosamides, and monoclonal antibodies
- Asia Pacific was the largest regional market in 2020 and is expected to witness the fastest growth in the coming years owing to the rising consumption of antibiotics and high disease prevalence
- North America emerged as the second-largest regional market in 2020 owing to government initiatives for the development of new therapies and better reimbursement scenario
Read 120 page research report with ToC on "Antibiotics Market Size, Share & Trends Analysis Report By Drug Class (Cephalosporin, Penicillin, Fluoroquinolone, Macrolide, Carbapenem, Aminoglycoside, Sulfonamide, 7-ACA), By Action Mechanism, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/antibiotic-market