22 June 2021
Visiongain has published a new report on European Antibiotics Market Report 2021-2031: Forecasts by Drug Class (Cephalosporin, Penicillin, Fluoroquinolone, Macrolide, Carbapenem, Aminoglycoside, Sulfonamide, 7-AC, Others), by Action Mechanism (Cell Wall Synthesis Inhibitors, Protein Synthesis Inhibitors, DNA Synthesis Inhibitors, RNA Synthesis Inhibitors, Mycolic Acid Inhibitors, Others) by Gender (Male, Female), by Age (0-14 Years, 15-54 Years, 55 Years and Above), by Route of Administration (Oral, Intravenous, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Antibiotics Companies AND COVID-19 Recovery Scenarios.
European antibiotics market size was valued at US$xx million in 2020 and is further expected to reach US$xx million in 2026 while growing at a CAGR of xx% during the first half of the forecast period i.e., 2021 to 2026. The European market size is further projected to reach US$xx million by 2031 at a CAGR of xx% from 2026 to 2031. The overall CAGR for the European antibiotics market is expected to be xx% from 2021 to 2031.
Internationalization Technique Anticipated to Offer Lucrative Growth Prospects for European Antibiotics Market Players
Internationalization is the most commonly known technique used by all companies in the antibiotics supply market. In terms of revenue and activities, most companies operate in multiple countries. Internationalization can also be explained by the fact that diseases that need antibiotic treatment occur in many countries, resulting in related needs on different markets. Furthermore, pharmaceutical firms try to expand into new markets to offset their high fixed costs (for example, R&D if they are dealing with branded/patented drugs, while generics companies have an advantage in selling the same product in different markets because they have fixed costs for producing and releasing their generic products).
COVID-19 Impact Analysis
Almost every country is struggling with the COVID-19 crisis. Most markets are declining as a result of the COVID-19 epidemic, which has had a negative impact on a variety of healthcare-related industries. In the future, this pandemic is projected to provide growth prospects for European antibiotics market players owing to rising health awareness coupled with growing government initiatives to tackle the pandemic.
Growing Demand for Generic Drugs to Offer Lucrative Growth Prospects
European antibiotics is segmented on the basis of drug class into cephalosporin, penicillin, fluoroquinolone, macrolide, carbapenem, aminoglycoside, sulfonamide, 7-ACA. Penicillin segment holds majority of the market share owing to maximum prescription as well as the most generic manufacturers throughout the industry. Furthermore, the growth is anticipated to be fueled by a rise in demand for generic drugs. Generic medications tend to be less expensive than their brand-name counterparts. As a result, demand for generic drugs is surging in the market, thus anticipated to boost the growth of the penicillin segment. According to Visiongain analysis, over the forecast period from 2021 to 2031, fluoroquinolone & cephalosporin segments are anticipated to expand with significant growth rate of 5.68% and 5.50% respectively. The commercialization of new drugs during the forecast period from 2021 to 2031 is anticipated to fuel the growth of these segments.
To strengthen their position in the European antibiotics market, top companies are forming various strategies such as mergers, acquisitions, joint ventures (JVs), partnerships, collaborations, new product launch, expansion of R&D, distribution, and management facilities among others. For instance, in July 2020, Novartis (Sandoz's generics unit) and the Austrian government announced a US$176 million investment over the next five years to boost antibiotics manufacturing at a Novartis plant in Austria. This is expected to introduce new process technology for producing penicillin APIs across the region. Abbott Laboratories, Allergan (AbbVie Inc.), Cipla Ltd, Cumberland Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, GlaxoSmithKline Plc, Novartis International AG, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and Viatris (Mylan).are some of the major players profiled in the report.
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