Penicillin and Streptomycin Market Set to Rise Investments on R & D of Penicillin & Streptomycin
Basically, penicillin is derived from Penicillium and streptomycin is derived from actinobacterium Streptomyces griseus. Streptomycin is widely used in the treatment of Tuberculosis, along with other drugs. These are manufactured by three types of processes, natural, synthetic and semi-synthetic. These two antibiotics are generally used in pharmaceuticals, hospitals and clinics. Increasing number of infectious diseases is the major growth driver of the Penicillin and Streptomycin Market.
Rising investments on research and development of penicillin streptomycin antibiotics and stringent government regulations are some of the key growth factors of the Penicillin and Streptomycin Market. Increasing demand for generics and high incidences of anti-microbial resistance are the major factors which will drive the growth and development of new products in this market. The market has growth opportunities with innovations in new product development and usage of penicillin-streptomycin compound in cell culture as anti-bacterial agent.
However, government regulations and patent expiry issues are major challenges to the growth of the Penicillin and Streptomycin Market. In addition, increasing incidences of anti-microbial resistance coupled with adoption of different types of antibiotics which have less side effects when compared with penicillin and streptomycin are also impeding the growth of the market.
North America is holding the highest market share followed by Europe. Asia-Pacific is estimated to witness the highest growth for the Penicillin and Streptomycin Market, due to large population base improving healthcare infrastructure, rising health awareness and high disposable income in emerging economies like India, China and Australia.
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