Market Research Report
Europe Antibiotics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class ; Action Mechanism ; and Country
|Published by||The Insight Partners||Product code||943388|
|Published||Content info||127 Pages
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|Europe Antibiotics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class ; Action Mechanism ; and Country|
|Published: June 9, 2020||Content info: 127 Pages||
Europe Antibiotics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class (Sulfonamides, Aminoglycosides, Carbapenem, Macrolides, Fluoroquinolones, Penicillin, Cephalosporin, Others); Action Mechanism (Mycolic Acid Inhibitors, RNA Synthesis Inhibitors, DNA Synthesis Inhibitors, Protein Synthesis Inhibitors, Cell Wall Synthesis Inhibitors); and Country .
The Europe antibiotics market is expected to reach US$ 15,569.87 million by 2027 from US$ 12,457.70 million in 2019. The market is estimated to grow with a CAGR of 3.1% from 2020 to 2027.
The antibiotics market is growing primarily due toprevalence of infectious diseases and increasing development of generic drugsin the Europe region that are boosting the market over the years. Restraining factors, such as tedious and expensive process of antibiotic development islikely to slow down the growth of the market in the coming years. Additionally,growing investments to combat antimicrobial resistanceand incorporation of novel computing technologies for antibiotics discoveryare likely to increase the growth of the antibioticsmarket in the forecast period.
Antibiotics are medicines containing substances that are active against bacteria. These medicines either kill the bacteria or control the infection by inhibiting the bacterial reproduction, which in turn helps patient to recover. Antibiotics are specific to the type of bacteria being treated and are not able to be interchanged from one infection to another.
Bacterial infection refers to the proliferation of harmful bacterial strains on or inside the human body. These microorganisms can infect any part of the body and may lead to severe consequences. A few of the indications of bacterial infections include pneumonia, meningitis, and food poisoning. Moreover, several commonly occurring pediatric bacterial infections are acute otitis media (AOM), sinusitis, bronchitis, upper respiratory tract infection, and pharyngitis.
Generic versions are introduced in the market with an aim to offer cost-efficient drugs and increase the reach of these drugs to people belonging to different economic classes. Generic versions are popular due to their availability and affordability. Additionally, the companies are focusing on development of generic versions to offer antibiotics at minimal costs. Also, pressure to control pharmaceutical expenditure and price competition among pharmaceutical companies are fueling the development of generic medicines markets in Europe. Therefore, generic manufacturers with low production costs, broad portfolios, and stable supplies would witness a robust market growth. Thus, the above factors are likely to drive the growth of antibiotic market in the forecasted period.
Europe has been massively hit by COVID-19 outbreak affecting many of its countries on a large scale. Italy, Germany, Spain, the UK, and France along with other European countries are continually witnessing rise in number of COVID-19 cases every day. In March 2020, European Medicines Agency has formed an executive committee to deal with impact of COVID-19 on supply chain of medicines. According to a data published in a newsletter in March 2020, majority of the European pharmaceutical companies has its manufacturing facilities located in India, while an estimated 70% of the raw ingredients comes from China. This whole supply chain is likely to hamper due to industrial shutdowns, which will ultimately hamper the growth of the market.
In 2019, the cephalosporin segment accounted for the largest share of the market; it is further expected to continue its dominance duringthe forecast period. This class of antibiotics is usually safe due to low toxicity to self-cells and remarkable efficiency against susceptible bacteria. On the other hand, fluoroquinolones are expected to register the highest CAGR in the antibiotics market during 2020-2027.
Some of the significant secondary sources for antibiotics market included in the report are the World Health Organization (WHO), European Medicines Agency (EMA),and others.