Penicillin & Streptomycin Market - By Product Type , By Application , By Route of Administration , By End User - Global Opportunity Analysis & Industry Forecast, 2024 - 2030

Penicillin & Streptomycin Market Overview

Penicillin & Streptomycin Market Size is forecast to reach $ 3165.56 Million by 2030, at a CAGR of 0.70% during forecast period 2024-2030. Penicillin & Streptomycin fall under the category of antibiotics that are taken into consideration to constrain the growth of bacterial contaminations. These protein synthesis inhibitors impede the growth of bacteria cells by binding to rh mibosomes whicakes tRNA incompetent of accumulating amino acids on proteins. Owing to their effectiveness penicillin & streptomycin are also delineated as antimicrobial agents. Antibiotics are prepared naturally but nowadays they are synthesized artificially also. For instance, streptomycin exists because of a species of bacteria described as Streptomyces griseus and is generally found in soil. Penicillin & streptomycin treat several health complications like infective endocarditis, tularemia, meningitis, and other contagions due to their effectiveness against gram-negative and positive bacteria. The penicillin & streptomycin market outlook is fairly appealing as the prevalence of communicable contagions has reached epidemic proportions. Therefore, the augmentation in infection prevalence and heightening activities related to research and development are factors set to drive the growth of the Penicillin & Streptomycin Market for the period 2024-2030.

Report Coverage

The report: “Penicillin & Streptomycin Market Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Penicillin & Streptomycin Market.

Key Takeaways

• Geographically, the Asia-Pacific Penicillin & Streptomycin Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2024-2030.
• Dwindling immunities of people broadening the surge of infections which is said to be a preeminent driver driving the growth of the Penicillin & Streptomycin Market. Whereas, several side-effects of antibiotics are said to reduce the market growth.
• Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Penicillin & Streptomycin Market report.

Penicillin & Streptomycin Market Segment Analysis-By Application

The Penicillin & Streptomycin Market based on the application type can be further segmented into Bacterial cold-water disease, syphilis, meningitis, tuberculosis, throat contagions, mycobacterium avium complex, endocarditis, tularemia, and others. Tuberculosis and throat segment held the largest share in 2021. The growth is owing to enlarging pervasiveness of such infections all over the globe. The frequency of occurrence of these contagions is more common as compared to other bacterial infections such as syphilis, gonorrhea, and others. However, the throat infections segment is estimated to be the fastest-growing with a CAGR of 1.2% over the forecast period 2024-2030. This growth is owing to the massive spread of streptococcal bacteria. This bacterium is of communicable nature and spreads from one person to another at the drop of a hat. Whenever people get flu and cold, they discharge streptococcal from their nose in the form of droplets. Therefore, the heavy prevalence of these infections is estimated to proliferate the demand for antibiotics like penicillin & streptomycin.

Penicillin & Streptomycin Market Segment Analysis-By End User

The Penicillin & Streptomycin Market based on end-user can be further segmented into hospitals, health centers, and other medical facilities. The hospitals segment held the largest share in 2021. The growth is owing to a far-reaching presence in cities and rural areas. Hospitals are the first line of treatment. Therefore, they enjoy strong positioning in minds of people worldwide. Moreover, maximum people consider treatments in hospitals than in other healthcare facilities due to the presence of highly qualified and top-of-the-line professionals. Besides, round-the-clock availability (24/7), and the presence of all necessary tools and techniques are other factors making them the first choice for treatment. The hospital segment is estimated to be the fastest-growing segment with a CAGR of 1.0% over the forecast period 2024-2030. This growth is owing to broadening infection associated with the throat and nose as the COVID-19 is cruising around the world. Hospitals are overwhelmed for the last two years as they are witnessing thousands of patients at the same time. No other medical facility beside the hospital can fulfill or counter such humungous demand due to a lack of adequate infrastructure.

Penicillin & Streptomycin Market Segment Analysis-By Geography

The Penicillin & Streptomycin Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 34% of the overall market in 2021. The growth in this segment is owing to the factors such as poor sanitation habits among residents of Asian countries especially Southeast Asian nations such as Pakistan, India, Bangladesh, and others. Moreover, human-to-human transmission is extremely common due to densely populated cities. Dhaka and Mumbai are the most densely populated areas on planet earth. Dhaka has a population density of around 36000 residents per square kilometer. Moreover, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2024-2030. This growth is owing to the widescale production of antibiotics. In fact, India and China are commonly described as pharmacies of the world as most of the drug supplies come from these nations. China is the biggest producer of penicillin worldwide which is another big factor boosting the growth of antibiotics in the respective segment.

Penicillin & Streptomycin Market Drivers

Enlarging infections are Anticipated to Boost Product Demand

The frequency of infections is intensifying day after day. Poor sanitation or hygiene habits such as not maintaining proper oral health, not washing hands before eating and cooking, and sneezing without covering are some of the most prominent reasons responsible for this surge. Moreover, public transport is the major source for people to commute to their day-to-day and office work in low- and middle-income countries. But the maintenance of buses or trains is extremely poor in countries like India and Pakistan that which gives a green signal to the swift spread of bacteria. Moreover, worsening air quality due to carbon emission, vehicle exhausts, and the burning of polythene are hospitalizing millions of people every year. On another hand, rising cases of the omicron variant are adding insult to injury as this mutated variant causes sore throat, sneezing, and runny nose. The above has been proved after a study conducted in December 2021 on 750,000 respondents in the UK.

Shooting up research activities due to heightened investments is Expected to Boost Product Demand

The entire world’s healthcare infrastructure is on the brink of collapse as the Covid infections are spreading on a dime and putting utmost weight on hospitals and other medical facilities. Therefore, the governments are on high alert and taking all sorts of necessary measures to tackle the situation. For instance, in 2020 when the COVID-19 was at its peak the Indian government announced a package worth $307 billion to refine healthcare and extend loans to MSMEs so they can improve their functionality. Not just India but developing nation is increasing their healthcare spending to the best of their capability. Furthermore, private players have broadened their research efforts up a notch considering the massive surge in infections which can be a game-changer for the growth of the respective market.

Penicillin & Streptomycin Market Challenges

Mutation in bacteria and Side-effects accompanied by antibiotics are Anticipated to Hamper Market Growth.

Even though, the usage of penicillin & streptomycin is so common that their demand has a bright future but due to enlarging mutation in bacteria structures these antibiotics are losing their effectiveness against them. According to National Health Service, the most common side effects of antibiotics affect the digestive system. These happen in around 1 in 10 people. Moreover, there are many health complications associated with their administration that can cripple the growth of the penicillin & streptomycin market. some common side effects are bloody stool, convulsions, headache, inflammation, chills agitation, and abdominal pain. Similarly, streptomycin set complications like nerve damage, impaired hearing, vertigo, nausea, reduction in appetite, and many more in motion.

Penicillin & Streptomycin Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Penicillin & Streptomycin Market. Key companies in this market are-

1. Pfizer Inc.
2. GlaxoSmithKline
3. Merck & Co.
4. Johnson & Johnson
5. Takeda Pharmaceutical
6. Eli Lilly and Company
7. Astellas Pharma
8. Novartis International AG
9. Lonza AG
10. Reddy laboratories

Recent Developments

• In October 2021, Sandoz, a Novartis division, acquired GSK's cephalosporin antibiotics business. It now has the rights to three well-known brands (Zinnat, Zinacef, and Fortum) in more than 100 markets, strengthening its position as the world's leading antibiotics company. 
• On January 6, 2020, Basel, Switzerland-based health company “Novartis” announced the successful acquisition of US-based healthcare player “The Medicine Company.” A payment worth $9.7 billion was made by Novartis in order to bring this acquisition to a close. The acquisition added a medicine “Inclisiran” which is used to treat cardiovascular complications in Novartis portfolio.
• On January 8, 2019, Japan-based biopharmaceutical company “Takeda Pharmaceutical” successfully acquired a biopharmaceutical firm “Shire.” Originally Shire belongs to the UK as it was founded there but now the company is headquartered in the US. A payment of $62 billion was made from Takeda to the Shire to conclude the acquisition process.

Key Market Players:

The Top 5 companies in the Penicillin & Streptomycin Market are:

1. Pfizer Inc.
2. GSK plc
3. Merck & Co., Inc.
4. Eli Lilly and Company
5. Lonza Group AG

For more Lifesciences and Healthcare Market reports, please click here