Penicillin Market size is to grow by USD 2.45 billion from 2022 to 2027, North America to account for 31% of market growth - Technavio

NEW YORK, Oct. 2, 2023 /PRNewswire/ -- The penicillin market is expected to grow by USD 2.45 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 4.98% during the forecast period, according to Technavio Research. The market has been segmented by type (oral and parenteral), source (semisynthetic and natural), and Geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to contribute 31% to the growth of the global market during the forecast period. The introduction of favorable regulatory initiatives for the approval of antibiotics is encouraging pharmaceutical companies to explore new treatment options. Due to an increased awareness of antibiotic use and the increasing usage of generics, the demand for antibiotics in the US is decreasing. Moreover, the US Federal Government endorsed an action plan for implementing a national strategy to combat antibiotic-resistant bacteria in September 2014. The plan's goals include slowing the emergence of drug-resistant bacteria and strengthening national health surveillance against antibiotic resistance. Additionally, CDC is funding 34 innovative projects to achieve this goal. Hence, these factors are expected to drive market growth in the region during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a Free PDF Sample Report

Company Profile:

Abbott Laboratories, AdvaCare Pharma, Aenova Holding GmbH, Astellas Pharma Inc., Canvax Biotech SL, Cipla Ltd., F. Hoffmann La Roche Ltd., FUJIFILM Corp., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Hikma Pharmaceuticals Plc, Lupin Ltd., Merck KGaA, Novartis AG, Pfizer Inc., Recipharm AB, Sanofi, Sun Pharmaceutical Industries Ltd., Viatris Inc., and Wellona Pharma

• Abbott Laboratories - The company offers penicillin such as Abbott Penicillin G Potassium tablets, which provide effective solutions for a wide range of bacterial ailments.
• AdvaCare Pharma - The company offers penicillin such as Penicillin G Sodium Powder, for a range of infectious diseases.
• Sanofi -  The company offers penicillin such as amoxicillin, playing a crucial role in combating bacterial infections.

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Penicillin Market: Segmentation Analysis

The market share growth by the oral segment will be significant during the forecast period.  Unlike parenteral penicillin antibiotics, oral penicillins are administered orally without special support and clinical evidence for their use.

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"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Penicillin Market: Market Dynamics

Key Driver

• Rising prevalence of infectious diseases
• Growing awareness of various diseases and their treatment
• Special regulatory designations

The rising prevalence of infectious diseases is a key factor driving market growth. Infectious diseases are caused by pathogens, which may be transferred from one person to another through direct or indirect contact. Therefore, the spread of infectious diseases is made possible by factors that promote the growth and transmission of these pathogens. The main causes of the spread of infectious diseases around the world are population changes caused by globalization as well as increasing urbanization. In addition, some other factors that increase morbidity include an increasing number of dams, poor living conditions, insufficient hygiene, and inadequate waste management systems. Furthermore, there is an increased incidence of infectious diseases in human beings due to changes in environmental conditions and the development of trade and tourism. Hence, these factors are expected to drive market growth during the forecast period.

Major Trend

Strategic alliances and M&A is the major trend in the penicillin market

 Identify key trends, drivers, and challenges in the market. Download a free sample report to gain access to this information.

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What are the key data covered in this penicillin market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the penicillin market between 2022 and 2027.
• Precise estimation of the penicillin market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the penicillin market in North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of the penicillin market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Source

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio