Asia Pacific $15.78 Bn Antibiotics Market Forecast to 2027: COVID-19 Impact and Regional Analysis by Drug Class & Action Mechanism – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Asia Pacific Antibiotics Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Drug Class; Action Mechanism; and Country” report has been added to ResearchAndMarkets.com’s offering.
The Asia Pacific antibiotics market is expected to reach US$ 15,784.01 million by 2027 from US$ 11,591.97 million in 2019. The market is estimated to grow with a CAGR of 4.2% from 2020 to 2027.
The antibiotics market is growing primarily due to prevalence of infectious diseases and consolidated government initiatives in emerging economies of Asia Pacific region. The tedious and expensive process of antibiotic development is likely to damage the growth of the market in the coming years. Additionally, growing investments to combat antimicrobial resistance and incorporation of novel computing technologies for antibiotics discovery are likely to increase the growth of the Antibiotics market during the forecast period.
Antibiotics refer to a class of medicines containing substances that are active against bacteria. These medicines either kill the bacteria or control the infection by inhibiting the bacterial reproduction, which in turn helps patient to recover. Antibiotics are specific to the type of bacteria being treated and are not able to be interchanged from one infection to another.
Bacterial infection refers to the proliferation of harmful bacterial strains on or inside the human body. These microorganisms can infect any part of the body and may lead to severe consequences. A few of the indications of bacterial infections include pneumonia, meningitis, and food poisoning. Moreover, several of the commonly occurring pediatric bacterial infections are acute otitis media (AOM), sinusitis, bronchitis, upper respiratory tract infection, and pharyngitis.
The Asia Pacific region resides two-thirds of the world’s population and is highly vulnerable to the threats of (antimicrobial resistance) AMR. The low and middle-income countries in Asia pacific region have major issues such as unplanned urbanization, poor sanitation environment, sub-optimal wastewater management, and rising level of air pollutants causing respiratory problems often treated by the antibiotics.
Patients in 10 hospitals across India with MDR and XDR bacteria were 1.57 times and 2.65 times more likely to die compared to similar susceptible infections. In Thailand, 19,122 of 45,209 (43%) deaths in nine hospitals across Thailand were attributed to healthcare-associated infections due to multi-drug resistance. Thus, the increasing prevalence of AMR is expected to continue to drive the growth of antibiotics market during the forecast period.
The prevalence of antimicrobial resistant bacteria is also increasing in developing as well as developed countries. For instance, according to a study published by Center for Disease Dynamics, Economics & Policy (CDDEP), in 2018, antibiotic-resistant infections cause ~700,000 deaths each year in low and middle-income economies. Thus, the increasing prevalence of such drug-resistant bacteria compels the manufacturers and R&D faculties to come up with new variants of effective antimicrobials against the new and old bacterial strains, thereby fueling the growth of the antibiotics market.
Considering the geographic and economic operations between Asian countries and China, the countries are expected to witness challenge of COVID-19. Domestic startups backed by international funding have already started witnessing back out from investors putting the development of the products in jeopardy. Additionally, the shift from antibiotics clinical trials to coronavirus trails is expected to have negative impact on introduction of new antibiotics, which in turn will slow down the growth of antibiotics market in the region.
In 2019, the cephalosporin segment accounted for the largest share of the market; it is further expected to continue its dominance during the forecast period. This class of antibiotics is usually safe due to low toxicity to self-cells and remarkable efficiency against susceptible bacteria. On the other hand, fluoroquinolones are expected to register the highest CAGR in the antibiotics market during 2020-2027.
Key Market Drivers
- Rising Prevalence of Bacterial Infections
- Consolidated Government Approach in Emerging Economies
Key Market Restraints
- Tedious and Expensive Process of Antibiotic Development
- Growing Investments to Combat Antimicrobial Resistance
- Incorporation of Novel Computing Technologies for Antibiotics Discovery
- GlaxoSmithKline plc
- Novartis AG
- Astellas Pharma Inc
- Pfizer Inc
For more information about this report visit https://www.researchandmarkets.com/r/g35slp.