Chemical Compounding Injectable Antibiotic Market Size Projected to Reach $31,909 Million by 2026
Chemical Compounding Injectable Antibiotic Market size is projected to reach $31,909 million by 2026, growing at a CAGR of 6.8% over 2021-2026. Antibiotics are also called as antibacterial or antimicrobial that helps for the treatment of infectious disease by reducing the growth of microorganisms. Antibiotic are grouped into various kinds of classes and the classes of antibiotics are also known as beta-lactam ring. Growing prevalence of infectious disease and rising development in healthcare sector helps in developing various drugs for the treatment of various diseases which are the major factors driving the growth of this market. Furthermore, increasing advanced of better and improved products and rising research and development activities is set to further enhance the overall market demand for Chemical Compounding Injectable Antibiotic Market for the period 2021-2026.
Chemical Compounding Injectable Antibiotic Segment Analysis – By Role
Based on Role the Chemical Compounding Injectable Antibiotic is segmented into Injectable, and Others. The Injectable segment hold the major share in 2020. This is mainly owing to its efficiency and speed of providing good results in a very less time. The Others segment is estimated to register the fastest CAGR of 7.1% for the period 2021-2026. Others such as oral form are convenient for the patients and are administered easily which increases the demand of oral medication and are thus driving its growth.
Chemical Compounding Injectable Antibiotic Segment Analysis – By Class
Based on class Chemical Compounding Injectable Antibiotic Market can be segmented into Penicillin, Carbapenems, Phenicols, Fluoroquinolone, Cephalosporin, Macrolides, Aminoglycosides, and Sulfonamide. Penicillin segment recorded for the highest market share in 2020. This is mainly owing to penicillin that are mostly used in prescription and increases the production of penicillin by the manufacturers. Moreover, penicillin also helps in treating various infections such as pharyngitis, skin infections, bronchitis, gonorrhea, and ear infections that are increasing the growth of Chemical Compounding Injectable Antibiotic market. The Cephalosporin segment is forecasted to register the fastest CAGR of 7.3% over the period 2021-2026. This is mainly owing to its effectiveness in Gram-positive bacteria that are increasing the growth of this market.
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Chemical Compounding Injectable Antibiotic Segment Analysis – By Geography
North America dominated the Chemical Compounding Injectable Antibiotic Market with major share of 40% in 2020. This is owing to growing adoption of antibiotics. Moreover, manufacturers are focusing on the development of novel anti-infective drugs and rising healthcare infrastructure which again increases the growth in healthcare sector. According to Center for Disease Control and Prevention, in 2018 about 269.4 million antibiotics are prescribed in U.S. that are increasing the growth of this market.
However, Asia Pacific is estimated to be the significant growing market during the forecast period 2021-2026 owing to increasing incidences of infectious diseases in Asia Pacific countries which in thus driving the growth of Chemical Compounding Injectable Antibiotic Market in this region
Chemical Compounding Injectable Antibiotic Market Drivers
Growing Prevalence of Infectious Disease
The rising cases of infectious disease among population is a major factor that are increasing the growth of this market. According to World Health Organization, in 2020 about 1.4 million deaths occur owing to increasing tuberculosis that is expanding the demand of antibiotics and are rising the growth of the Chemical Compounding Injectable Antibiotic Market over 2021-2026.
Rising Development in Healthcare Sector
Increasing development in healthcare sector helps in developing various drugs for the treatment of various diseases that increases the growth of this Market. Moreover, rising development in generic drugs and increasing adoption of techniques to identify the diseases increasing the growth of Chemical Compounding Injectable Antibiotic Market over 2021-2026.
Covid-19 Impact:
COVID-19 pandemic has vastly impacted the growth of Chemical Compounding Injectable Antibiotic Market. During pandemic, various researchers are working for the development of antibiotic drugs for the treatment of COVID-19 that are increasing the demand of antibiotic and are positively impacted the growth of this market.
Chemical Compounding Injectable Antibiotic Market Challenges
Increasing Side Effects
The factors that are set to impede the growth of the Chemical Compounding Injectable Antibiotic Market is increasing side effects owing to consumption of unnecessary prescription that is set to create hurdles for the Chemical Compounding Injectable Antibiotic Market.
Chemical Compounding Injectable Antibiotic Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Chemical Compounding Injectable Antibiotic Market. Chemical Compounding Injectable Antibiotic top 10 companies are ICPA, Bristol-Myers Squibb Co., Bayer HealthCare AG, The Menarini Group, GlaxoSmithKline plc, Eli Lilly and Company, Johnson & Johnson, Merck, Novartis, Sanofi, and Teva Pharmaceutical Industries Ltd.
Developments
In February 2021, ICPA launches antibiotics for odontogenic infection is extremely effective for treating odontogenic infections in patients that are increasing the growth of this market.
In June 2019, Merck & Co. received FDA approval for Zerbaxa that are used for the treatment of bacterial pneumonia.
Key Takeaways
In 2020, North America dominated the Chemical Compounding Injectable Antibiotic Market owing to growing adoption of antibiotics, increasing number of manufacturers that are focusing on the development of novel anti-infective drugs and rising healthcare infrastructure increases the growth in healthcare sector.
Furthermore, growing prevalence of infectious disease and rising development in healthcare sector for treating various disease by providing varieties of drugs are enhancing the growth of Chemical Compounding Injectable Antibiotic.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Chemical Compounding Injectable Antibiotic Market report.
Increasing side effects and antimicrobial resistance is set to refrain the growth for the Chemical Compounding Injectable Antibiotic Market.
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