- 16 October 2020 19:57
Antibiotics Market Reports 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2030 (Based on 2020 COVID-19 Worldwide Spread)
The ongoing crisis of COVID-19 is increasing the demand for antibiotics. This is expected to ultimately strengthen the bacterial resistance and result in more deaths during pandemic. Increased use of antibiotics will affect the burden of diseases in the ongoing pandemic as well as post pandemic. Besides, the patients who are currently suffering from COVID-19 are given large amounts of antibiotics to prevent secondary bacterial infections.
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The market growth of antibiotics can be attributed to factors, such as increasing incidents of infectious diseases such as diarrhea, pneumonia, malaria, tuberculosis, and others. This leads to an increased demand for antibiotics production. According to UNICEF, in 2017, diarrhea accounted for approximately 8 percent of all deaths among children under the age of 5 worldwide. Furthermore, increasing investments in R&D by major biopharmaceutical companies are also leading to market growth.
Other factors, such as supportive government policies, are expected to provide lucrative growth opportunities for the market. For instance, the U.S. government enacted the Generating Antibiotic Incentives Now Act (GAIN Act) of 2012, which provides benefits to manufacturers of Qualified Infectious Disease Products (QIDPs) including 5 years of additional nonpatent exclusivity. Moreover, technological advancements in the development of innovative drugs by the key players will also boost market growth.
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However, the development of bacterial resistance is on the rise and renders the antibiotic or its entire class ineffective, which may curb market growth to a certain extent.
Asia Pacific is estimated to be the fast-growing region owing to its large population base, high prevalence of infectious diseases, regulation reforms, and greater utilization of generic medicines in this region. Furthermore, R&D activities by key market players for the development of innovative products are also expected to support growth in the Asia Pacific region. These factors are also key growth contributors across this region.
Some of the prominent players in the global antibiotics market include:
GlaxoSmithKline plc., Merck & Co., Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd, Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., Abbott Laboratories., Sanofi, Allergan, Janssen Global Services, LLC, and others.
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