Albany NY -- (SBWIRE) -- 02/13/2020 -- The growth possibilities of the global antibacterial drugs market is predicted in a report by Transparency Market Research (TMR) finds fairly competitive owing to presence of strong players in the market.
Leading players in the global antibacterial drugs market include Novartis AG, Allergan, Plc., Bristol Myers Squibb Company AstraZeneca, Johnson and Johnson, Merck & Co., Inc., GlaxoSmithKline Plc. (GSK), Sanofi., Bayer AG, and Pfizer Inc. In order to combat the cutthroat nature of the competition players have adopted strategies such as frequent mergers and acquisitions. Product innovations, improving product portfolio, and geographical expansion will also be seen as important business strategies by these vendors in the market.
The global antibacterial drugs market registered at US$45,325.0 mn in 2016 and is anticipated to reach a value of US$51,447.6 mn by the end of the 2025. The market is expected to witness a steady CAGR of 1.5% over the forecast period from 2017 to 2025. The enteral segment is probable to witness the largest market share in 2016 and is expected to grow by a remarkable rate over the forecast period.
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The retail stores and drug stores segment is anticipated to experience the largest market share in 2016 and this segment will grow by a significant rate during the forecast period, due to the increasing number of retail drugs stores, and the availability of antibacterial drugs through retail pharmacies and drugs stores. North America region is the leading contributor to the global antibacterial drugs market and will grow by a significant rate during the forecast period, due to the high infections rate, high diagnosis and treatment rate.
Rising Risks of Infectious Diseases to Drive Growth
Rising prevalence of infectious diseases globally and growing resistance of bacteria to multidrug combinations are some of the key factors bolstering the demand for antibacterial drugs. Availability of drugs to fulfill rising demand for efficient and affordable antibacterial drugs is boosting growth of the global antibacterial drugs market. Growing geriatric population across developing as well as developed countries is aiding growth of the global antibacterial drugs market over forecast period.
However, unregulated prescription of drugs that may lead to possible side effects are majorly restraining growth of the global antibacterial drugs market. In addition, genetic mutation is major factor hampering growth of the global antibacterial drugs market. Nevertheless, technological advancements through innovative formulations of drug are expected to boost adoption of drugs and create potential growth opportunities for the antibacterial drugs market.
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Initiatives by Governments and Key Players for Commercialization of Therapies to Drive Growth
Furthermore, growing initiatives by numerous governments and key players for the commercialization of therapies are expected to bolster the growth of the market. These initiatives have conducted advancements in enteral routes of administration and available across numerous developing and developed counties are expected to the uptake of antibacterial drugs.