Growing Prevalence of Infectious Disease and Rising Development in Healthcare Sector Helps in Developing Various Drugs for The Treatment of Various Diseases Is Anticipated to Drive the Chemical Compounding Injectable Antibiotic Market during the forecast period 2021-2026. Chemical Compounding Injectable Antibiotic Market size is projected to reach $31,909 million by 2026, growing at a CAGR of 6.8% over 2021-2026.
The Chemical Compounding Injectable Antibiotic market growth rate is attributed to the Growing prevalence of infectious disease and rising development in healthcare sector that helps in developing various drugs for the treatment of various diseases, and is anticipated to bring new opportunities. Antibiotics are also called as antibacterial or antimicrobial that helps for the treatment of infectious disease by reducing the growth of microorganisms. There are various dosage forms of antibiotic medications such as injectable, oral and others. Injectable antibiotic is mostly preferred as it provides faster results and can be controlled easily. Antibiotics are chemicals that interfere with metabolic processes to stop the growth of bacteria. Antibiotic contains various chemical substances such as penicillin, tetracycline and many more that helps in destroying the growth of microorganisms. Antibiotic are grouped into various kinds of classes and the classes of antibiotics are also known as beta-lactam ring. Furthermore, increasing advanced of better and improved products and rising research and development activities is set to further enhance the overall market demand for Chemical Compounding Injectable Antibiotic Market for the period 2021-2026. COVID-19 pandemic had greatly impacted the growth of Chemical Compounding Injectable Antibiotic Market. During pandemic, various researchers are working for the development of antibiotic drugs for the treatment of COVID-19 that are increasing the demand of antibiotic and are positively impacted the growth of this market.
North America dominated the Chemical Compounding Injectable Antibiotic market with major share of 40% in 2020. This is owing to growing adoption of antibiotics, manufacturers are focusing on the development novel anti-infective drugs and rising healthcare infrastructure increases the growth in healthcare sector and are rising the growth of this region. According to Center for Disease Control and Prevention, in 2018 about 269.4 million antibiotics are prescribed in U.S. that are increasing the growth of this market. Moreover, U.S. government are increasing focus on developing drugs that helps to reduce infectious diseases and are increasing the growth of this market.
Also, in 2020 based on class Chemical Compounding Injectable Antibiotic can be further segmented into Penicillin, Carbapenems, Phenicols, Fluoroquinolone, Cephalosporin, Macrolides, Aminoglycosides, and Sulfonamide. The Penicillin segment recorded for the highest market share in 2020. This is mainly owing to penicillin are mostly used in prescription which increases the production of penicillin by the manufacturers. Moreover, penicillin also helps in treating various infections such as pharyngitis, skin infections, bronchitis, gonorrhea, and ear infections that are increasing the growth of this market. The Cephalosporin segment is forecasted to register the fastest CAGR of 5.1% over 2021-2026. This is mainly owing to it is very effective in Gram-positive bacteria that are increasing the growth of this market.
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Chemical Compounding Injectable Antibiotic Market Growth Drivers:
Growing Prevalence of Infectious Disease
The rising cases of infectious disease among population is a major factor that are increasing the growth of this market. Moreover, increasing infections in hospitals is also increasing the need of antibiotic in order to reduce infections that are further increasing the growth of this market. According to World Health Organization, in 2020 about 1.4 million deaths occur owing to increasing tuberculosis that increases the demand of antibiotics and are rising the growth of the Chemical Compounding Injectable Antibiotic Market over 2021-2026.
Rising Development in Healthcare Sector
Increasing development in healthcare sector helps in developing various drugs for the treatment of various diseases which increasing the growth of this Market. Moreover, rising development in generic drugs by various pharmaceutical and biotechnology companies, easing investing in pharmaceutical firms to develop antibiotic, and increasing adoption of various techniques to identify the diseases increasing the growth of Chemical Compounding Injectable Antibiotic Market over 2021-2026.
- In February 2021, ICPA launches antibiotics for odontogenic infection is extremely effective for treating odontogenic infections in patients that are increasing the growth of this market.
- In June 2019, Merck & Co. received FDA approval for Zerbaxa that are used for the treatment of bacterial pneumonia.
The Major Players in this Market Include
The major companies in the Chemical Compounding Injectable Antibiotic market include ICPA, Bristol-Myers Squibb Co., Bayer HealthCare AG, The Menarini Group, GlaxoSmithKline plc, Eli Lilly and Company, Johnson & Johnson, Merck, Novartis, Sanofi, and Teva Pharmaceutical Industries Ltd. On 11 February 20201, Sandoz has acquisition with GSDK in order to increase the antibiotic business that are further rising the growth of this market. The continuous developments in the Chemical Compounding Injectable Antibiotic Market such as advanced technologies, increasing funding number of startups and research organizations, and surge in the number of product are the major factors set to drive the Chemical Compounding Injectable Antibiotic market during the forecast period 2021-2026.
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