Telemedicine is the fastest growing segment fueling growth of the Antibiotics Market

 

Antibiotics Market

The global 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 used to treat bacterial infections and help combat drug-resistant bacteria. They selectively destroy or inhibit the growth of microbes such as bacteria and fungi. The need for antibiotics stems from the rising prevalence of infectious diseases globally.

 

Market key trends:

Personalized medicine is one of the key trends shaping the antibiotics market. With advances in genetic sequencing and bioinformatics, doctors are now able to analyze an individual patient's genetic makeup and microbial genome to determine the most effective antibiotic treatment. This personalized approach helps optimize treatment outcomes while minimizing antibiotic overuse and resistance. By pinpointing the specific infections and best matching antibiotics, personalized medicine could transform infectious disease management.

Segment Analysis

The global antibiotics market is segmented into penicillin, cephalosporins, tetracycline, quinolones, macrolide, and others. The cephalosporins segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to the increasing usage of cephalosporins for various bacterial infections due to their broad spectrum of antibacterial activity and relatively less toxicity.

 

Key Takeaways

The Global Antibiotics Market Size was valued at US$ 53803.25 Mn in 2023 and is expected to grow at a CAGR of 4.7% over the forecast period.

 

Market size analysis: The global antibiotics market is expected to witness high growth, exhibiting a CAGR of 4.7% over the forecast period, due to increasing prevalence of infectious & chronic diseases and growing geriatric population.

 

Regional analysis: North America dominated the global antibiotics market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to the rising prevalence of chronic diseases, surge in antibiotic R&D expenditure, and presence of key market players in the region.

 

Key players analysis: Key players operating in the antibiotics market are Roche Holding AG, Abbott Laboratories, Sanofi SA, Novartis AG, AstraZeneca, Pfizer Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline, and Bayer Healthcare AG, among others. Roche Holding AG is one of the largest player and holds a significant share of the antibiotics market.

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https://www.dailyprbulletin.com/antibiotics-market-size-share-growth-outlook-2023/

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