Global Antibiotics Market to Grow with Advancements in Medical Research and Analysis
The global antibiotics market has been expanding on account of advancements in the field of medical research and analysis. The use of antibiotics is very common across the medical and healthcare sector, and this has played a vital role in the growth of the global market.
Several new and old forms of antibiotic, or antibacterial, medications have come the fore in recent times. This factor has played a vital role in propelling demand within the global market. Moreover, a number of individuals consume antibiotics even without prescription by the doctor. Hence, the global antibiotics market is prognosticated to reap in voluminous revenues in the years to come.
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This blog by Transparency Market Research (TMR) on the global antibiotics market is a clear representation of the forces that have aided market growth.
- Easy Availability of Antibiotics to Propel Market Demand
The global market for antibiotics has been expanding on account of the easy availability of antibiotics across the globe. Moreover, the rising incidence of bacterial infections has also generated stellar demand within the global antibiotics market. It is expected that the development of new types of antibiotics would play a pivotal role in market growth and maturity.
- Asia Pacific to Lead Market Growth
On the basis of geography, the global antibiotics market has been segmented into North America, the Middle East and Africa, Europe, Asia Pacific, and Latin America. The global antibiotics market in Asia Pacific is expected to grow alongside advancements in domain of medical research and analysis.
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The global antibiotics market can be segmented based on drug class, route of administration, distribution channel, and region. In terms of drug class, the global market can be classified into aminoglycosides, beta-lactams, macrolides, phenicols, quinolones/fluoroquinolones, tetracycline, sulfonamides, and others. Beta-lactams can be categorized into penicillin, carbapenems, and cephalosporin. Growth of the beta-lactams segment can be attributed to rapidly growing antibacterial resistance, need of new broad spectrum of agents, and need to control infection in health care settings. Based on route of administration, the global antibiotics market can be divided into oral, topical, sublingual, inhalation, and intravenous. In terms of distribution channel, the global market can be classified into hospital pharmacies, retail pharmacies, and online pharmacies. Growth of the online pharmacies segment can be attributed to focus of e-commerce companies on the pharmaceutical sector to provide medication to customers at doorstep and ease of buying medication online.
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Key players operating in the global antibiotics market include AstraZeneca plc, Bristol-Myers Squibb Co., Bayer HealthCare AG, The Menarini Group, GlaxoSmithKline plc, Eli Lilly and Company, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Sanofi, and Teva Pharmaceutical Industries Ltd.
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