The introduction of combination drugs such as multiple antibacterials or antibacterials combined with an inhibitor drives the market growth. The use of combination drugs may decrease the chances of evolution of antibiotic-resistant bacterial strains, which is expected to fuel the growth of the market.
Portland, OR -- (SBWIRE) -- 11/24/2017 -- Cephalosporin is a bactericidal ?-lactam antibiotic, which is used to treat bacterial infections such as pneumonia, skin infections, strep throat, staph infections, tonsillitis, bronchitis, otitis media, and gonorrhea. Increase in incidence of population suffering from pneumonia, tonsillitis, bronchitis, and gonorrhea drives the market growth.
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Cephalosporin is a group of semisynthetic, broad-spectrum antibiotics, which is majorly used to treat bacterial infections. The major factors contributing to the growth of the market include increase in incidence of population suffering from pneumonia, tonsillitis, bronchitis, and gonorrhea. In addition, increase in R&D activities to develop highly efficient & safe drugs and upsurge in use of combination therapies further boost the market growth. However, side effects associated with cephalosporin and development of drug-resistant bacterial strains restrain the market growth.
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Third-generation cephalosporin segment is expected to dominate the market throughout the analysis period, as these have a broader spectrum of activity. Fifth-generation cephalosporin is expected to register highest CAGR of 7.6% during the forecast period.
Rise in Incidence of Infectious Diseases
Increase in the number of people suffering from infectious disease worldwide is the major factor that fuels the market growth. According to the 2016 estimates of WHO, nearly one million sexually transmitted infections (STIs) are acquired every day throughout the globe, accounting for more than 340 million new cases of sexually transmitted bacterial and protozoal infections in a year. In addition, a 2016 research article stated that urinary tract infections (UTI) are one of the most common bacterial infections, which affect nearly 150 million people per year globally. Thus, rise in prevalence of various bacterial diseases increase the customer base for cephalosporin, which in turn is anticipated to supplement the growth of the cephalosporin market.
Growth in Asia-Pacific region
Asia-Pacific is a potential market for cephalosporin drugs due to high population base, presence of unmet medical needs, and increase in disposable income of people. Asia-Pacific is densely populated, with India and China being the most populated countries. With a total population of more than 1.2 billion, India is one of the most promising markets for cephalosporin after China. Thus, the key players focus on expansion of their cephalosporin business in this region.
Advent of Combination Drugs
Use of combination drugs such as multiple antibacterials or antibacterials combined with an inhibitor may decrease the chances of evolution of antibiotic-resistant bacterial strains. Thus, increase in R&D activities has been witnessed for the development of combinations of cephalosporin that may be used against antibiotic-resistant bacteria. This is further expected to lead towards the growth of cephalosporin market.
The global cephalosporin market is segmented on the basis of generation, type, route of drug administration, application, and region. Based on generation, the market is divided into first-generation cephalosporin, second-generation cephalosporin, third-generation cephalosporin, fourth-generation cephalosporin, and fifth-generation cephalosporin. By type, it is bifurcated into branded and generics. Depending on route of drug administration, it is classified into injection and oral.
Key Findings of the Cephalosporin Market:
Fifth-generation cephalosporin is projected to grow at a CAGR of 15.6% during the forecast period.
Branded cephalosporin segment is expected to register the highest CAGR of 14.4% during the analysis period.
Injectable cephalosporin is accounted for more than two-fifths share of the global cephalosporin market in 2016.
France and Germany collectively contributed for around one-third share of the European cephalosporin market in 2016.
Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific cephalosporin market in 2016.
The global cephalosporin market was valued at $3,136 million in 2016, and is projected to reach $4,980 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The third-generation cephalosporin segment held around one-third share of the total market in 2016.
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Asia-Pacific is projected to register the highest CAGR of 16.1% during the forecast period, owing to increase in incidence of infectious diseases. In addition, rise in healthcare expenditure is anticipated to offer a lucrative opportunity for the market growth.
The major companies profiled in the report include Allergan Plc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Lupin Limited, Merck & Co., Inc., Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.