Antibiotics Market Expected to Reach US ~$51.5 billion and CAGR 4.2% by 2028 – Polaris Market Research
The global Antibiotics Market size is expected to reach USD 51.5 billion by 2028 according to a new study by Polaris Market Research.
The collaboration between pharma companies is boosting industry growth. Pharma companies across the globe are strengthening their research efforts to develop new therapies and reduce the costly burden of drug discovery. In this direction, in July 2019, Nosopharm partnered with Evotec to develop NOSO-502, a novel antibiotic to treat Enterobacteriaceae infections. Similarly, in April 2019, Forge Therapeutics and Basilea Pharma announced a research and license agreement to develop new antibiotics.
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Moreover, rising public-private collaborations to fund projects related to this industry are also expected to boost the market growth. For instance, in March 2019, the Global Antibiotic Research and Development Partnership (GARDP) announced a collaboration with Evotec to develop first-in-class antibiotics for the treatment of drug-resistant bacteria.
In line with this, in July 2020, more than dozens of pharma companies introduced the AMR action fund, a collaborative effort to develop new three to four antibiotics, by the end of the decade. Group has already collected more than USD 1 billion to support clinical research for new antibiotics to address life-threatening infections. The fund would provide potential antibiotic candidates for the most challenging drug development stages and enable individual governments to make favorable reforms for potential product pipelines.
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Market participants such as Abbott Laboratories, Allergan, Bayer AG, Cumberland Pharmaceuticals, Inc., Danaher, GlaxoSmithKline plc, Melinta Therapeutics, Merck & Co. Inc., Mylan, Nabriva Therapeutics plc, Novartis, Pfizer Inc., Roche, Sanofi, Teva Pharmaceutical Industries Ltd. Pharmaceutical companies across the globe are focussing on research and innovation to stay competitive and develop new anti-microbial therapies.
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Polaris Market Research has segmented the antibiotics market report on the basis of product, application, end-use, and region:
Antibiotics, Product Outlook (Revenue – USD Billion, 2016 – 2028)
- Software
- Device
- Storage System
Antibiotic, Application Outlook (Revenue – USD Billion, 2016 – 2028)
- Drug Discovery & Development
- Academic research
- Disease Diagnosis
Antibiotic, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)
- Hospitals
- Biotech & pharma companies
- Diagnostic Labs
- Academic & research institutes
Browse detailed report with in-depth TOC – Antibiotics Market
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