Market Analysis - Antibiotics Summit 2018
The demand gives a primary aspect for any product to flourish in market .This demand of antibiotic is increasing due to the rise in the incidence of infectious diseases across the globe over the forecast period, emerging infectious diseases, and the increasing antibiotics resistance in supply and demand of antibiotics.
Importance & scope of Antibiotics:
According to a new market report from Transparency Market Research, the global antibacterial drugs market was valued at $43.55 billion in 2012 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 0.3% from 2013 to 2019, and estimated to reach a value of $45.09 billion after 2019. Moreover, the other antibiotics such as penicillin have 8%, tetracycline 4%, erythromycin 7%, streptomycin 1% and chloramphenicol has 1 % market.
However, development of resistance, especially in case of bacterial infections is on the rise and renders the antibiotic or its entire class ineffective, thereby critically impacting the overall antibiotic market. This problem gave new ideas to researchers for development of more efficient antibiotics and study about them.
Because of antibiotic over usage, certain bacteria have become resistant to the most powerful antibiotics available today, this is called Antibiotic resistance. Common infections which are treated by antibiotics are Acne, Bronchitis, conjunctivitis, Urinary tract infection etc. Antibiotics show effect after 24-48 hours. If not the bacteria could be resistant to that antibiotic, or it was not a bacteria. Side effects of antibiotics include allergy, type 1 hypersentivity reactions, toxic effects and disbacteriosis. Mechanism of action of antibiotics includes inhibition of cell wall synthesis, disruption of cell membrane, inhibition of protein synthesis, inhibition of nucleic acid.
It is estimated that antimicrobial resistance (AMR) is directly responsible for 23 000 deaths annually in the United States and more than 25 000 in the European Union. A conservative estimate of the economic cost of bacterial resistance is $55 billion dollars annually in the United States alone.
Scope of antibiotics in future:
The efficacy of the world’s antibiotics is quickly decaying – the drugs we’re using to treat diseases are working less .But we are not likely to continue at this scale. The world is concerned about this problem and there are many governments organizations, research institutes, and concerned citizens working hard to avoid this scenario and antibiotic is a important aspect of our life.
It is expected that antibacterial usage will decrease slightly in developed countries as a result of an increasing pressure to combat antimicrobial resistance (AMR). Despite this, the antibacterial drug market is forecasted to grow from USD27.7 Billion in 2017 to USD35.6 Billion in 2022, at a compound annual growth rate (CAGR) of 3.97%.