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The global acute bacterial skin and skin structure infections market consists of antibiotic drugs such as cephalosporins, carbapenems, glycopeptides, lipoglycopeptides, oxazolidinones, quinolones, tetracyclines and others that are used for the treatment of various bacterial skin infections. Acute bacterial skin and skin structure infections include skin infections such as cellulitis, cutaneous abscesses, and erysipelas. These infections are usually caused by Staphylococcus aureus and Streptococcus pyogenes bacteria. Rising prevalence of various skin infections globally due to changing lifestyle and lack of hygiene is boosting the demand for antibiotic drugs for treatment. The global acute bacterial skin and skin structure infections market is estimated to be valued at US$ 3,466.6 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the acute bacterial skin and skin structure infections market is the development of novel combination therapies. Combination therapies involve use of two or more antibiotics together for treating infections. Using combination of antibiotics helps in suppressing development of bacterial resistance. It also enables using lower doses of each antibiotic and shorter treatment durations. Many pharmaceutical companies are engaged in developing innovative combination therapies with improved efficacy and safety profile for treatment of various bacterial infections including acute bacterial skin infections. For instance, in June 2020, Melinta Therapeutics, Inc. announced positive topline results from Phase 3 clinical trial evaluating Baxdela (delafloxacin) in combination with augmentin (amoxicillin/clavulanate potassium) for treatment of acute bacterial skin and skin structure infections (ABSSSI).
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to high capital requirement for R&D and manufacturing facilities. However, there are low switching costs for buyers.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of generic alternatives for many drugs. Buyers can easily switch to cheaper generic drugs.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for Active Pharmaceutical Ingredients (APIs) and other raw materials.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options available for Acute Bacterial Skin and Skin Structure Infections.
Competitive rivalry: The competitive rivalry is high among the existing players due to intense competition.
Key Takeaways
The global Acute Bacterial Skin and Skin Structure Infections market is expected to witness high growth over the forecast period.
Regional Analysis: North America accounts for the largest share in the global market owing to significant awareness about available treatments and favorable reimbursement policies in the region.
Key players operating in the Acute Bacterial Skin and Skin Structure Infections are Fresenius SE & Co. KGaA, Pfizer, Inc., Amneal Pharmaceuticals LLC, Intas Pharmaceuticals Ltd., Cadila Healthcare Ltd., Glenmark Pharmaceuticals Ltd, GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Sandoz Inc., Aurobindo Pharma Ltd., AbbVie, Inc., Melinta Therapeutics, Inc., Accord Healthcare Ltd., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., and Paratek Pharmaceuticals, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
