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 treatment 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:
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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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