At 5.4% CAGR, Asia Pacific Antibiotics & Antimycotics Market is Projected to be Worth US$ 40,545.75 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific antibiotics & antimycotics market was valued at US$ 26,570.38 million in 2023 and is expected to reach US$ 40,545.75 million by 2031, registering a CAGR of 5.4% from 2023 to 2031. Ongoing funding and research & development initiatives and growing awareness about fungal infections are among the critical factors attributed to the Asia Pacific antibiotics & antimycotics market expansion.

Companies in the antibiotics and antimycotics market are making continuous efforts to develop new products or update the existing ones, and to raise funds for drug development and clinical studies. Initiatives and support from private and government organizations also drive evolution in antibiotics and antimycotics. A few of the recent developments that took place in the market in recent years are mentioned below.

• In June 2024, the Global Antibiotic Research & Development Partnership (GARDP) and Bugworks Research Inc (Bugworks) signed a collaborative agreement for jointly developing an innovative compound termed BWC0977. This candidate exhibits a broad-spectrum antibiotic activity against multidrug-resistant bacteria responsible for life-threatening infections.
• In October 2022, CARB-X launched new funding rounds for critical global health needs focused on preventatives, diagnostics and therapeutics that address neonatal sepsis, gonorrhea and the most threatening antimicrobial-resistant bacterial infections. These product range includes oral therapeutics, vaccines for neonatal sepsis, and Gonorrhea products.

Therefore, the ongoing funding, research and development initiatives by companies and academic organizations are expected to create ample opportunities for the growth of the antibiotics and antimycotics market in the coming years.

On the contrary, antimicrobial resistance, financial barriers, and extensive regulatory processes hamper the growth of Asia Pacific antibiotics & antimycotics market.

Based on drug class, the Asia Pacific antibiotics & antimycotics market is segmented into penicillins, cephalosporins, carbapenems, macrolides, aminoglycosides, quinolones, sulfonamides, tetracyclines, azoles, others. The cephalosporins segment held 31.2% share of the Asia Pacific antibiotics & antimycotics market in 2023, amassing US$ 8,299.55 million. It is projected to garner US$ 13,887.62 million by 2031 to expand at 6.6% CAGR during 2023-2031.

Based on indication, the Asia Pacific antibiotics & antimycotics market is segmented into skin infections, respiratory infections, urinary tract infections (UTI), septicemia, ear infections, gastrointestinal infections, and others. The skin infections segment held 32.2% share of the Asia Pacific antibiotics & antimycotics market in 2023, amassing US$ 8,553.79 million. It is projected to garner US$ 13,009.82 million by 2031 to expand at 5.4% CAGR during 2023-2031.

Based on route of administration, the Asia Pacific antibiotics & antimycotics market is segmented into oral, topical, and others. The oral segment held 52.6% share of the Asia Pacific antibiotics & antimycotics market in 2023, amassing US$ 13,964.68 million. It is projected to garner US$ 20,917.32 million by 2031 to expand at 5.2% CAGR during 2023-2031.

Based on distribution channel, the Asia Pacific antibiotics & antimycotics market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 58.6% share of the Asia Pacific antibiotics & antimycotics market in 2023, amassing US$ 15,573.24 million. It is projected to garner US$ 23,342.61 million by 2031 to expand at 5.2% CAGR during 2023-2031.

Based on country, the Asia Pacific antibiotics & antimycotics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held 39.3% share of Asia Pacific antibiotics & antimycotics market in 2023, amassing US$ 10,439.50 million. It is projected to garner US$ 16,060.17 million by 2031 to expand at 5.5% CAGR during 2023-2031.

Key players operating in the antibiotics & antimycotics market are Pfizer Inc, Novartis AG, Sanofi SA, F. Hoffmann-La Roche Ltd, Merck & Co Inc, GSK Plc, Johnson & Johnson, Cipla Ltd, Bayer AG, AbbVie Inc, and Astellas Pharma Inc, among others.

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