The increasing number of people suffering from infectious diseases is expected to drive the growth of global Penicillin in the forecast period, 2024-2028.
According to TechSci Research report, “Penicillin Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global Penicillin market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increase in the incidence of infectious diseases such as pneumonia, and syphilis across the globe. Additionally, the rising prevalence of multiple bacterial infections such as skin infections, and urinary tract infections especially in the developed countries in North America and Europe are expected to create lucrative opportunities for market growth in coming years. Besides, increasing investment in research and demand for manufacturing Penicillin in underdeveloped and developing countries is further expected to support the market growth.
However, increasing usage of broad-spectrum antibiotics slows down the growth of the global Penicillin market in the forecast period. Also, a lack of awareness about new drugs for the treeatment of chronic diseases in emerging countries can further restrict the growth of the global Penicillin market.
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The global Penicillin market can be segmented by type, application, end users, and region.
Based on the type, the global Penicillin market can be segmented into Aminopenicillin, Antipseudomonal Penicillin, Beta Lactamase Inhibitor, and Others. The Aminopenicillin segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the growing commercialization of new drugs during the forecast period along with increasing the treatment of the first line of choice in treating infections such as skin infections, pharyngitis, gonorrhea, and ear infections.
Based on end-user, the market can be segmented into Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Academic & Research Institutions. The hospital pharmacies segment is expected to dominate during the forecast period on account of the increasing number of specialized hospitals with the incidence of different types of chronic diseases across the globe along with the growing adoption of advanced technology by middle-income regions. Also, the availability of different medications with hospital pharmacies further support segmental growth.
Major companies operating in the global Penicillin market are:
- Astellas Pharma Inc.
- Novartis International AG
- GlaxoSmithKline plc
- Pfizer Inc.
- Merck Co. & Inc.
- F.Hoffmann-La Roche Ltd.
- Toyama Chemical Co., Ltd.
- Sanofi Aventis SA
- MiddleBrook Pharmaceuticals, Inc.
- Gilead Sciences Inc.
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“North America is expected to dominate in the Global Penicillin market on account due to the growing consumption of antibiotics due to increasing number of infectious diseases across the region. Besides, rising government initiatives to develop novel therapy to treat drug-resistant infections is increasing in the region and is further expected to create lucrative opportunities for market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Penicillin Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Product (Bulk, Dosage), By Type (Aminopenicillin, Antipseudomonal Penicillin, Beta Lactamase Inhibitor, Others), By Route of Administration (Oral, Intramuscular, Intravenous), By End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Academic & Research Institutions), By Region and Competition”, has evaluated the future growth potential of global Penicillin market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Penicillin market.
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Other key factors such as a change to sedentary lifestyle, infectious diseases, respiratory infections caused due to bacterial infections, and rheumatic heart diseases contribute towards the growth of the market.According to the World Heart Federation, 3 million people get affected with the rheumatic heart disease every year.
Also, according to the Centers for Disease Control and Prevention August 2018, 370 cases of meningitis were reported in the US in 2016.
Such an incidence of rheumatic heart disease and meningitis supports market growth.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/6541However, factors such as lack of awareness about the treatment and the side effects associated with treatments are expected to hinder the growth of the Benzathine Penicillin G market during the forecast period.SegmentationThe global Benzathine Penicillin G market is segmented on the basis of application, mode of injection, and end user.
The Benzathine Penicillin G market, by application, is segmented into bacterial infections and sexually transmitted infection (STI) syphilis therapy.
On the basis of end user, the global Benzathine Penicillin G market is segmented into hospitals and clinics, diagnostic centers, ambulatory surgical centers, research centers, and others.Regional AnalysisThe Americas is the largest in the market owing to the increasing prevalence of rheumatic heart disorders and growing healthcare expenditure.
According to the National Meningitis Association December 2014, every year approximately 600 to 1000 people are affected by the meningococcal disease in the US.
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