- Increase in the prevalence of infectious diseases,
rise in R&D activities for development of combination
drugs, and surge in funding for the development of antibiotics
fuel the growth of the global cephalosporin market
PORTLAND, Ore., Nov. 24, 2020 /PRNewswire/ -- Allied Market
Research published a report, titled, "Cephalosporin Market by
Generation (First-generation, Second-generation, Third-Generation,
Fourth-Generation, and Fifth-Generation), Type (Branded and
Generic), Route of Drug Administration (Intravenous and Oral), and
Application (Respiratory Tract Infection, Skin Infection, Ear
Infection, Urinary Tract Infection, and Sexually Transmitted
Infection): Global Opportunity Analysis and Industry Forecast,
2019–2027." According to the report, the global
cephalosporin market size was estimated at $13.69 billion in 2019, and is anticipated to hit
$16.87 billion by 2027, registering a
CAGR of 2.6% from 2019 to 2027.
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Drivers, restraints, and opportunities-
Increase in the prevalence of infectious diseases, rise in
R&D activities for development of combination drugs, and
surge in funding for the development of antibiotics fuel the
growth of the global cephalosporin market. On the other hand, side
effects associated with cephalosporin and antibiotic resistance to
cephalosporin restrain the growth to some extent. However,
lucrative opportunities in emerging economies are expected to be
highly beneficial for the market in the coming years.
COVID-19 scenario-
- In vitro and In vivo studies are going on to assess the
potential of cephalosporin for COVID-19, thereby boosting the
market growth to a significant extent.
- Also, increase in demand for drugs that prevent infections has
impacted the global market for cephalosporin positively.
The branded segment to dominate by 2027-
Based on type, the branded segment contributed to more than
three-fifths of the global cephalosporin market share in 2019 and
is expected to rule the roost by the end of 2027. Branded drugs
assure quality and effectiveness over generic drug, which makes
them high in demand among doctors. This factor drives the growth of
the segment. The generic segment, on the other hand, would register
the fastest CAGR of 3.1 throughout the forecast period. This is
because these drugs are available at a much lower cost as compared
to branded drugs.
The intravenous segment to maintain the dominant
share-
Based on route of administration, the intravenous segment
accounted for more than two-thirds of the global cephalosporin
market revenue in 2019 and is projected to lead the trail during
the forecast period. Furthermore, this segment is also anticipated
to register the fastest CAGR of 2.9% during the forecast period.
Growing incidence of severe infections and increase in the trend of
using intravenous cephalosporin as they reach tissue faster and are
at higher concentrations as compared to oral drugs propel the
segment growth.
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Asia-Pacific, followed by
Europe and North America garnered the major share in
2019-
Based on geography, Asia-Pacific, followed by Europe and North
America held the major share in 2019, garnering more than
one-third of the global cephalosporin market. The same region is
also expected to showcase the fastest CAGR of 3.6% by 2027. This is
attributed to the factors such as increased consumption of
cephalosporin, its easy availability, rise in sale of
over-the-counter drugs, and surge in bacterial infection in the
region.
Key players in the industry-
- Bristol-Myers Squibb Company
- GlaxoSmithKline Plc.
- Sanofi
- Allergan Plc.
- Merck & Co. Inc.
- Novartis International AG
- F.Hoffmann-La Roche Ltd.
- Lupin Limited (Lupin Pharmaceuticals, Inc.)
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
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