Market Research Report
North America 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||943395|
|Published||Content info||117 Pages
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|North America Antibiotics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class ; Action Mechanism ; and Country|
|Published: June 11, 2020||Content info: 117 Pages||
North America 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 North America antibiotics market is expected to reach US$ 18,004.25 million by 2027 from US$ 13,527.79 million in 2019. The market is estimated to grow with a CAGR of 3.9% from 2020 to 2027.
The antibiotics market is growing primarily due to prevalence of infectious diseases and increasing development of generic drugs in the North America region. Restraining factors, such as tedious and expensive process of antibiotic development is likely to slow down the growth of the market in the coming years. Additionally, growing investments to combat antimicrobial resistance and incorporation of novel computing technologies for antibiotics discovery are likely to increase the growth of the Antibiotics market in the forecast period.
Antibiotics refer to a class of 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.
The prevalence of infectious disease, especially caused by bacteria is increasing day by day. According to a study published by the American Society for Microbiology (ASM) in 2019, Carbapenem-resistant bacterial infections risk factor leads to ~49,000 hospitalization cases in the US each year. Moreover, according to CDC, in 2018, there were around 49,157 pneumonia deaths, which accounted for 15:1 per 100,00 people; moreover, in the United States, an estimated 48 million foodborne diarrheal illnesses occur annually, resulting in more than 128,000 hospitalizations and 3,000 deaths. According to CDC, campylobacter causes an estimated 1.5 million illnesses each year in the United States. Thus, the increasing prevalence of bacterial infections is expected to continue to drive the growth of antibiotics market during the forecast period. The prevalence of antimicrobial resistant bacteria is also increasing in developing and developed countries. Thus, the increasing prevalence of such drug-resistant bacteria compels the manufacturers and R&D faculties to come up with new effective variants of antimicrobials against the new and old bacterial strains, thereby fueling the growth of the antibiotics market.
Research institutes, pharmaceutical, and biotech companies are engaged in collaborative work to address the COVID-19 outbreak. This has eventually shifted their focus from development of new antibiotics to vaccine development for COVID-19. Moreover, diversion of resources from antibiotics development to coronavirus treatment is likely to hamper overall productivity of the drug development during the forecast period. Furthermore, pharmaceutical supplies and procurement are also badly affected by the outbreak of COVID-19 in North America.
In 2019, the cephalosporin segment accounted for the largest share of the market; it is further expected to continue its dominance during the 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), Food and Drug Administration (FDA), American Society for Microbiology (ASM), Centers for Disease Control and Prevention (CDC), Center for Disease Dynamics, Economics & Policy (CDDEP), and others.