The Antibiotics Market is estimated to be valued at US$ 53803.25 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Antibiotics are medicines used to prevent and treat bacterial infections. There are several common antibiotics to treat infections like penicillin, cephalosporins, fluoroquinolones, macrolides and sulfonamides. Broad-spectrum antibiotics are used for treating various bacterial infections in urinary tract, respiratory tract, gastrointestinal tract and others. The rise in infectious diseases globally and shortage of new antibiotic approvals are some key factors spurring the growth of this market.

Market Dynamics:

The antibiotics market is primarily driven by the increasing prevalence of infectious diseases worldwide owing to evolving microbes and limited pipeline of new antibiotics. According to WHO, infectious diseases account for around 26% of global deaths, with lower respiratory infections being the most common cause of death from infectious diseases, followed by HIV/AIDS, tuberculosis and sepsis. Another major factor propelling the market growth is lack of new drug approvals for antibiotic therapies. Only a few new antibiotics have been approved in the last few decades due to high research costs and failure rates, leaving few treatment options for drug-resistant superbugs.

Segment Analysis

The global antibiotics market is dominated by the penicillin segment, which held around one-third of the total market share in 2023. This is because penicillin is one of the oldest and most commonly prescribed antibiotics worldwide for treating various bacterial infections. Within penicillin, semi-synthetic penicillin dominates owing to its more potent antibacterial activity and broader spectrum compared to natural penicillin.

PEST Analysis

Political: The government regulations regarding the use and production of antibiotics are becoming stricter worldwide to prevent antibiotic resistance. This will likely drive more R&D investments into developing novel antibiotics drugs.

Economic: The rising healthcare expenditures and growing middle-class populations in emerging nations are fueling the overall growth of the antibiotics market. However, patent expirations of some blockbuster drugs impacts revenues of few companies.

Social: Increasing public awareness about rational use of antibiotics and completing the prescribed course is positively influencing the global market. However, over-the-counter sales and prolonged use also contribute to antibiotic resistance.

Technological: Companies are focusing on rapid diagnostics, nanoparticles, drug delivery technologies to develop more effective and targeted antibiotics with lower toxicity. Genome sequencing is also helping discover new antibiotics.

Key Takeaways

The Global Antibiotics Market Size was valued at US$ 53803.25 Mn in 2023 and is expected to witness high growth, exhibiting a CAGR of 4.7% over the forecast period. This is attributed to increasing prevalence of infectious diseases worldwide owing to changing lifestyles, climate change, and more virulent pathogens.

Regionally, North America dominated the market and accounted for over one-third of the global revenue in 2023 due to advanced healthcare facilities and increasing usage of broad-spectrum antibiotics. However, Asia Pacific is projected to emerge as the fastest-growing regional market by 2030 with a CAGR of around 6% during the forecast period. This growth can be attributed to rising healthcare spending, large patient pool, and growing awareness in countries like India and China.

Some of the key players operating in the antibiotics market include Roche Holding AG, Abbott Laboratories, Sanofi SA, Novartis AG, AstraZeneca, Pfizer Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline, and Bayer Healthcare AG, among others. These players are focusing on developing combination therapies through acquisitions, partnerships, and in-licensing deals to expand their product portfolios.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it