Westford, USA, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The growing demand for antibiotics market is driven by the continued emergence of new pathogens and the development of resistance to existing drugs. The number of people who are infected with antibiotic-resistant bacteria is increasing, as is the number of deaths attributable to these infections. In addition, the use of antibiotics in agriculture is contributing to the development of resistance in pathogenic bacteria. The World Health Organization (WHO) estimates that, each year, these infections cause the deaths of more than 700,000 people worldwide.
There are a number of factors that contribute to the growing demand for antibiotics market. First, the continued emergence of new pathogens necessitates the development of new drugs to treat them. Second, the increasing incidence of antibiotic resistance means that existing drugs are becoming less effective. And finally, the widespread use of antibiotics in agriculture is leading to the development of resistance in pathogenic bacteria.
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The trend toward ever-increasing demand for antibiotic threatens to outpace our ability to develop new drugs. This underscores the need for better stewardship of existing antibiotics and more judicious use of these important medicines.
There is a growing need for new and effective antibiotics. Unfortunately, the development of new antibiotics has slowed in recent years across global antibiotics market. This is due to a number of factors, including the high cost of research and development and the lack of incentive for pharmaceutical companies to invest in this area. The result is a situation where the demand for antibiotics is outstripping the supply. This is particularly evident in low- and middle-income countries, where access to these lifesaving drugs is often limited. In some cases, patients are forced to resort to buying antibiotics from unregulated sources, such as street vendors, which further contributes to the problem of antimicrobial resistance.
SkyQuest Analysts Says Innovation and Developing New Drug Formulation is Need of an Hour
SkyQuest has recently released a report on global antibiotics market, highlighting both the challenges and opportunities that exist within the sector. The report notes that antibiotics are essential for treating infections and protecting public health, but warns that the overuse and misuse of these drugs is leading to a global crisis of antibiotic resistance.
This is a particular problem in low- and middle-income countries, where people may not be able to afford these lifesaving drugs. Finally, the report highlights the need for more research and development into new antibiotics, as current drug classes are becoming increasingly ineffective against bacteria.
The study calls for a greater focus on innovation within the antibiotics market in order to develop new and more effective drugs. It also recommends measures to improve access to existing antibiotics, as well as better stewardship of these vital medicines. Our study urges all stakeholders – from governments to the private sector – to work together to address this growing threat to global health.
The expiry of patents of key antibiotics and the entry of generic players are expected to restraint antibiotics market growth during the forecast period. The increase in resistance to antibiotics is another factor that is anticipated to hamper market growth during the forecast period.
SkyQuest’s analysis shows that antibiotic companies will need to focus on developing combination therapies and new formulations of existing drugs to address resistance and meet patient needs. Companies will also need to invest in digital health solutions to improve patient outcomes and drive down costs.
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Prominent Players Losing Market Share to Competitors
Global antibiotics market is highly competitive and fragmented, according to a new report by Skyquest. The report, which surveyed more than 100 executives from leading companies in the sector, found that nearly 60% of respondents believe their company is losing market share to competitors.
We attribute this high level of competition to the large number of small players in the market. "The antibiotics market is one of the most fragmented industries we have studied," said Swarnima Aeri, head of SkyQuest’s healthcare practices. "With more than 1,000 companies worldwide competing for market share, it is no wonder that executives feel under pressure.
The report also found that there are very few new antibiotics in development. Of the 582 drugs in clinical trials, only 16 (2.8%) are for treating bacterial infections. This low figure is indicative of the challenges faced by the industry in developing new antibiotics.
With over 400 companies active in R&D and multiple therapeutic classes. The study notes that there are currently no clear market leaders, and that the industry is characterized by numerous small companies and a few large pharma companies. The top 25 companies in the antibiotics market hold just over 20% of the total market share. The rest of the market is highly fragmented, with numerous small- and medium-size companies competing for market share. The report also found that the antibiotics industry is facing significant challenges, including rising costs, tough regulatory environments, and declining efficacy of existing drugs. In addition, there is a lack of innovation in the industry, with few new classes of antibiotics being developed in recent years.
Despite the challenges posed by fragmentation, the antibiotics market is expected to grow significantly in the next few years. The report predicts that sales will reach $57.88 billion by 2028, up from $42.53 billion in 2021.
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Top Players in Global Antibiotics Market
Merck & Co., Inc.
Allergan plc (AbbVie)
GlaxoSmithKline plc.
Pfizer Inc.
Melinta Therapeutics
Basilea Pharmaceutica Ltd.
Tetraphase Pharmaceuticals
Paratek Pharmaceuticals, Inc.
Nabriva Therapeutics plc
Spero Therapeutics
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