Beta-lactam and Beta-lactamase Inhibitors Market to Reach $34.17 Bn, Globally, by 2028 at 2.3% CAGR: Allied Market Research
PORTLAND, Oregon, Aug. 21, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Beta-lactam and Beta-lactamase Inhibitors Market by Drug Class (Penicillin, Cephalosporin, Carbapenem, Monobactam, and Combination), Disease (Urinary Tract Infection, Respiratory Infection, Skin Infection, Complicated Urinary Tract Infection (cUTI), Complicated Intra-Abdominal Infections (cIAI), Nosocomial Pneumonia, Blood Stream Infection, and Other Diseases), and Route of Administration (Oral, Intravenous, and Other Route of Administrations): Global Opportunity Analysis and Industry Forecast, 2019-2028." According to the report, the global beta-lactam and beta-lactamase inhibitors industry generated $27.12 billion in 2018, and is expected to reach $34.17 billion by 2028, registering a CAGR of 2.3% from 2019 to 2028.
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Upsurge in consumption in low and middle-income countries (LMICs), increase in prevalence of infectious diseases, and adoption of novel approaches for treatment of bacterial infections drive the growth of the global beta-lactam and beta-lactamase inhibitors market. However, development of beta-lactam resistance and huge time required for approval by the regulatory bodies hinder the market growth. On the other hand, discovery of advanced prospect molecules and innovative combination therapies for treatment of antibiotic-resistant microbial infections present new opportunities in the market.
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Cephalosporin segment to continue its lead position by 2028
Based on drug class, the cephalosporin segment held the highest share of the global beta-lactam and beta-lactamase inhibitors market in 2018, accounting for nearly two-fifths of the total share, and is expected to maintain its lead position throughout the forecast period. This is due to its broad-spectrum activity and development of the next-generation cephalosporin for fight against antimicrobial resistance. On the other hand, the combination segment would grow at the fastest growth rate, with a CAGR of 4.6% from 2019 to 2028, owing to increase in prevalence of antimicrobial resistance and incidence of chronic diseases.
Respiratory infection segment to contribute the highest share during the forecast period
Based on disease, the respiratory infection segment accounted for the major share in the global beta-lactam and beta-lactamase inhibitors market in 2018, contributing to more than one-fifths of the total share, and is expected to hold the highest market share in terms of revenue during the forecast period. This is due to rise in prevalence of lung diseases and surge in R&D on the drugs for treatment of respiratory infections. However, the complicated intra-abdominal infections (cIAI) segment is expected to grow at the largest CAGR of 4.8% from 2020 to 2030. This is attributed to rise in burden of sepsis and rapid increase in mortality rate with greater disease severity worldwide.
Asia-Pacific contributed two-fifths of total share, while North America held one-fourth
Asia-Pacific contributed to nearly two-fifths of the total market share in 2018, and is estimated to maintain its lion's share during the forecast period. This is due to surge in number of antibiotics consumption, ease in availability of antibiotics, and increase in sale of antibiotics without prescription. North America held nearly one-fourth of the total share in the global beta-lactam and beta-lactamase inhibitors market in 2018. Contrarily, LAMEA is estimated to register the highest growth rate with a CAGR of 3.6% from 2019 to 2028, owing to ease in availability of antibiotics over the counter as well as lack of legislations or restrictions on their use in this region.
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Worldwide leaders
-- Abbott Laboratories
-- Allergan Plc.
-- F. Hoffmann-La Roche Ltd.
-- GlaxoSmithKline plc
-- Merck & Co. Inc.
-- Mylan N.V.
-- Novartis International AG (Sandoz)
-- Pfizer Inc.
-- Sanofi
-- Teva Pharmaceutical Industries Ltd.
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