Antibiotics are used to treat bacterial infections and play a significant role in improving public health. They treat various illnesses and reduce mortality from infectious diseases. With rising cases of antibiotic-resistant infections, the need for effective antibiotics has increased substantially. Antibiotics prevent the growth and spread of bacteria. They inhibit microbial growth or kill microbes by interfering with vital bacterial structures and functions. The global Antibiotics Market is estimated to be valued at US$ 53803.25 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising antibiotic resistance has emerged as a serious public health threat globally. The overuse and misuse of antibiotics are key factors contributing to the growing resistance. Several pathogens have developed resistance against commonly used antibiotics making many infections untreatable. This has accelerated research and development activities focused on novel antibiotics. Companies are investing heavily in developing antibiotics targeting multi-drug resistant infections. Many new molecular entities are in clinical trials. Effectively tackling resistance and bringing novel antibiotics to the market safely and in a timely manner remains crucial to containing the global public health crisis of antibiotic resistance.
Segment Analysis
The global antibiotics market is dominated by the cephalosporins sub-segment which accounts for over 30% share due to their broad spectrum nature. Within cephalosporins, the 3rd generation cephalosporins such as cefixime and ceftriaxone dominate due to thier ability to treat infections caused by both gram-positive and gram-negative bacteria.
Key Takeaways
The global antibiotics market analysis is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising cases of bacterial and fungal infections worldwide.
Regional analysis: The Asia Pacific region is expected to grow the fastest during the forecast period supported by presence of emerging economies like China and India that are witnessing rapid development of healthcare infrastructure and increasing expenditure on healthcare. China currently dominates the Asia Pacific antibiotics market.
Key players: Key players operating in the antibiotics market include Odoo, SuiteCRM, VTiger, Salesforce, Zoho, HubSpot, Pipedrive, Insightly, Base, Apptivo, Nutshell, Really Simple Systems, Teamgate, Bitrix24, Creatio, vTiger, SugarCRM, Zurmo, FatFree CRM, and EspoCRM. SuiteCRM dominates the market due to its open source nature and extensive customization options.
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