A global antibacterial drugs market intelligence report penned by Transparency Market Research (TMR) has profiled important companies involved in marketing, production, and development activities.
Albany, NY -- (SBWIRE) -- 10/09/2017 -- Other players that could make the cut in the global antibacterial drugs market could be Eli Lilly and Company, Bristol-Myers Squibb Company, Bayer AG, and AstraZeneca plc. They have been predicted to participate in constant market competitions and secure a global presence in the pharmaceutical sector.
As per the analysis of the market's competitive landscape presented in the report, Pfizer, Inc. could be one of the most promising companies for antibacterial drugs. Besides patients and physicians, the company has been anticipated to widen its customer base with support from private clinics and hospitals as well.
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The global antibacterial drugs market, according to TMR, could expand at a CAGR of 1.30% between 2015 and 2023 to achieve a revenue valuation of nearly US$38.9 bn by the final forecast year. Although ?-lactams had dominated the market in the past with a larger share, the drug class could lose its share to miscellaneous antibacterials, which are projected to rise at a higher growth rate during the forecast period. Apart from leading the market currently, Asia Pacific could showcase its supremacy by growing at a faster pace in the coming years.
The authors of the report have analyzed the world antibacterial drugs market to garner a handsome demand on the back of the trend of product differentiation ensured using different methods. There could be more factors propelling the demand for antibacterial drugs, such as rising research and development activities, government support, and significant occurrence of infectious diseases. The elevating count of multidrug resistant bacterial strains, surging demand for economical and efficient antibacterial drugs, and swelling geriatric population size could also contribute to the growth of the market. Furthermore, the advancement of novel treatments or innovative molecules has been foreseen to up the growth rate of the market.
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Developing markets for antibacterial drugs such as Asia Pacific could offer growth prospects while gaining support from several favorable factors. Improving healthcare infrastructure, enlarging purchasing power of domestic consumers, and the presence of a tall count of manufacturers dealing with generic drugs and active pharmaceutical ingredients (APIs) could help to further the demand in the region.
Players operating in the international antibacterial drugs market are envisaged to witness a setback in demand due to certain reasons such as approaching patent expirations, launch of generic drugs, and increase in drug-resistant bacterial species. Moreover, increased market maturity could pull back the growth of the market.
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However, the international antibacterial drugs market could find lucrative opportunities taking over while riding on a smaller number of side effects, reduced onset of action, and emergence of innovative compounds with enhanced efficacy. The implementation of combination products, monoclonal antibodies (mAbs), and new formulations have been forecasted to create more prospects in the market. With only a handful of drugs patented in the market, players could seize the opportunity to introduce new drugs and make their presence known in the industry.
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