A report by Fact.MR reveals that the global antibacterial drugs market is projected to grow at a modest CAGR of 2.6% during the forecast period (2021-2031), expected to reach a value of US$62 billion. In the short run, the market is poised to expand at a CAGR of 1.5% from 2020-2025 to reach US$50 billion.
At the end of 2020, the market was valued at around US$46 billion. By 2021, it is likely to be valued at US$48 billion. Prospects have dimmed amidst the Covid-19 pandemic, with pharmaceutical companies shifting focus towards developing effective anti-viral vaccinations and drugs.
At the same time, factors such as an increase in the ageing population, growing demand for efficient and affordable antibacterial drugs, and an increasing number of multi-drug resistant bacterial strains are driving the global antibacterial drugs market.
- Demand for β-lactams to expand fastest, registering a 2% value CAGR
- Patients’ proclivity for enteral drugs is projected to increase, on account of oral therapy and relatively safe use than the parenteral route of administration.
- North America is projected to hold 33% of global antibacterial drugs demand
- Asia to emerge the dominant market, capturing 50% of overall demand for antibacterial drugs
- Europe to capture 35% market share for antibacterial drugs across the forecast period
“Ongoing research and development to discover potential formulations for addressing the ever-growing antibiotic resistance amongst patients is expected to keep growth prospects for antibacterial drugs moderate,” said a Senior Research Analyst, Fact.MR.
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