Global Penicillin Market to be dominated by Aminopenicillin through 2028
The increasing number of
people suffering from infectious diseases is expected to drive the growth of
global Penicillin in the forecast period, 2024-2028.
According to TechSci Research report, “Penicillin Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”,
the global Penicillin market is
anticipated to grow at an impressive rate in the forecast period, 2024-2028.
This can be ascribed to the increase in the incidence of infectious
diseases such as pneumonia, and syphilis across the globe. Additionally, the rising
prevalence of multiple bacterial infections such as skin infections, and
urinary tract infections especially in the developed countries in North America
and Europe are expected to create lucrative opportunities for market growth in
coming years. Besides, increasing investment in research and demand for
manufacturing Penicillin in underdeveloped and developing countries is further
expected to support the market growth.
However, increasing
usage of broad-spectrum antibiotics slows down the growth of the global Penicillin
market in the forecast period. Also, a lack of awareness about new drugs for the
treatment of chronic diseases in emerging countries can further restrict the
growth of the global Penicillin market.
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The global Penicillin market can be segmented
by type, application, end users, and region.
Based on the type, the global Penicillin market
can be segmented into Aminopenicillin, Antipseudomonal Penicillin, Beta Lactamase Inhibitor, and
Others. The Aminopenicillin segment dominated the
market in 2022 and is expected to continue maintaining its dominance throughout
the forecast period. This can be ascribed to the growing commercialization of
new drugs during the forecast period along with increasing the treatment of the
first line of choice in treating infections such as skin infections,
pharyngitis, gonorrhea, and ear infections.
Based on end-user, the market can be segmented
into Hospitals
& Clinics, Pharmaceutical & Biotechnology Companies, and Academic &
Research Institutions. The hospital
pharmacies segment is expected to dominate during the forecast period on
account of the increasing number of specialized hospitals with the incidence of
different types of chronic diseases across the globe along with the growing adoption
of advanced technology by middle-income regions. Also, the availability of
different medications with hospital pharmacies further support segmental
growth.
Major companies operating in the global Penicillin
market are:
- Astellas Pharma Inc.
- Novartis International AG
- GlaxoSmithKline plc
- Pfizer Inc.
- Merck Co. & Inc.
- F.Hoffmann-La Roche Ltd.
- Toyama Chemical Co., Ltd.
- Sanofi Aventis SA
- MiddleBrook Pharmaceuticals, Inc.
- Gilead Sciences Inc.
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“North America is
expected to dominate in the Global Penicillin market on account due to the growing
consumption of antibiotics due to increasing number of infectious diseases
across the region. Besides, rising government initiatives to develop novel
therapy to treat drug-resistant infections is increasing in the region and is
further expected to create lucrative opportunities for market growth” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Penicillin Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2017-2027, Segmented By Product (Bulk, Dosage), By Type (Aminopenicillin,
Antipseudomonal Penicillin, Beta Lactamase Inhibitor, Others), By Route of
Administration (Oral, Intramuscular, Intravenous), By End User (Hospitals &
Clinics, Pharmaceutical & Biotechnology Companies, Academic & Research
Institutions), By
Region and Competition”, has evaluated
the future growth potential of global Penicillin market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Penicillin market.
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