Penicillin and streptomycin market is witnessing high growth due to increased investment in research & development activity with new product innovations.
New York, NY -- (SBWIRE) -- 02/06/2017 -- An antibiotic is a substance or compound is an antimicrobial agent that kills bacterial infections or inhibits bacterial growth. Penicillin and Streptomycin are two types of antibiotics used in several bacterial infection treatment. In the last century, when no treatment was available, a minor infection could cost lives. Bacterial infections were the major cause of mortality at that time. The discovery of Penicillin revolutionized pharmaceutical and medical sciences. Due to their wide range of antibacterial scope, in current scenario Penicillin and Streptomycin are the most commonly used antibiotics for most of infections. Penicillin drugs are used in the treatment of diseases such as throat infections, meningitis and so on. Streptomycin is used in Tuberculosis treatment. Antibiotics offer advantage of expansion of highly complex medical procedures such as organ transplantations.
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Penicillin and streptomycin market is witnessing high growth due to increased investment in research & development activity with new product innovations. Moreover, the other regulatory initiatives and creating awareness by various government and non-government organizations to control the bacterial infectious disease among people are also expected to drive the growth of the global penicillin and streptomycin market. However, the biggest challenge faced by the penicillin and streptomycin market is the development of antibiotic resistance in many bacteria. Mutation in bacteria provides immune resistance to antibiotics such as penicillin and streptomycin. Bacteria such as Enterobacteriacea, Gram-negative bacteria, and various Staphylococcus strains are resistant to penicillin. For instance, according to CDC, it is estimated that every year 2 Mn illnesses and 23,000 deaths are caused due to antibiotic resistance. Over consumption, incomplete or improper use of antibiotics lead to resistance to antibacterials. Increasing resistance to antibiotics is the major public health problem worldwide which is the major restraining factor for the growth of the global penicillin and streptomycin market.
The global penicillin and streptomycin market has been segmented by product type, by route of administration, manufacturing process and by geography. In terms of product type, the global market has been segmented into penicillin and streptomycin products. Furthermore, penicillin and streptomycin product segmented into bulk and dosage. In terms of route of administration, the global market has been categories into oral, intramuscular, and intravenous. In terms of manufacturing process, the global market has been segmented into natural, synthetic, and semi-synthetic.
Geographically, Asia Pacific was the largest regional market for penicillin and streptomycin in 2015 in terms of value. This dominance is due to growing number of antibiotic manufacturers in the Asian countries and also due to the presence of some of the world's leading generics manufacturers in this region. Additionally, growing incidences of bacterial infections such as Clostridium difficile and MRSA infections and growing patient awareness are some other factors which will drive growth in Asia Pacific penicillin and streptomycin market. North America was identified as the second largest regional market in 2015 and is expected to register moderate growth rate during the forecast period due to loss of patent exclusivity, market maturity, generic infiltration and shortened drug lifecycles, etc. Europe was the third largest market for penicillin and streptomycin. These three market growths can be attributed to the investments done by governments to improve the present healthcare facility for better health of the people, which will enhance the growth of the penicillin and streptomycin in its countries, such as U.K., France, and Germany. Latin American countries such as Mexico and Brazil are expected to have considerable potential for driving the market growth due to evolving medical care infrastructure, and high incidences of bacterial infections.
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The major players operating in this market include Astellas Pharma Inc., GlaxoSmithKline Plc, MiddleBrook Pharmaceuticals, Inc., Johnson & Johnson, Merck & Co., Inc., Gilead Sciences Inc., Toyama Chemical Co., Ltd, Eli Lilly and Company, Astra Zeneca, Takeda Pharmaceutical Company Ltd., among other significant players worldwide.