ANTIBIOTICS MARKET ANALYSIS

Antibiotics Market Size and Trends

Global antibiotics market is estimated to be valued at USD 55.33 Bn in 2024 and is expected to reach USD 78.24 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

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The antibiotics market is witnessing positive trends with the increasing demand for effective antibiotics for the treatment of bacterial infections. Rising prevalence of infectious diseases and growing awareness about antibiotic treatment options are expected to drive the market growth. Additionally, the market is also benefiting from recent new product launches with improved formulations and novel drug delivery systems. However, overutilization and misuse of antibiotics have led to antimicrobial resistance which remains a major challenge. This has encouraged manufacturers to invest more in the research and development of advanced antibiotics. Stringent regulations regarding the use of antibiotics are also being implemented to prevent antibiotic resistance.

High Consumption of Antibiotics across the Globe

High consumption of antibiotics across the globe is expected to augment the growth of the global antibiotics market during the forecast period. For instance, antibiotics are medicines that fight bacterial infections in people and animals. They kill bacteria or prevent them from reproducing and spreading, and thus, there is an increase in the demand for antibiotics worldwide. According to the new research conducted by the Lancet Regional Health-Southeast Asia in September 2022, Azithromycin 500 mg tablet was the most consumed antibiotic formulation (7.6%) in India, followed by cefixime 200 mg tablet (6.5%).

Rising prevalence of infectious diseases around the world is expected to propel the growth of the global antibiotics market during the forecast period. For instance, antibiotics are powerful medicines that fight bacterial infections. Antibiotics are used to treat or prevent some types of bacterial infections. As per the Centers for Disease Control and Prevention (CDC), in 2020, around 7,174 new cases of tuberculosis (TB) were reported in the U.S. Moreover, the common cold affects millions of people in the U.S. every year.