At 4.5% CAGR, South & Central America Antibiotics & Antimycotics Market is Projected to be Worth US$ 4,220.27 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the South & Central America antibiotics & antimycotics market was valued at US$ 2,968.59 million in 2023 and is expected to reach US$ 4,220.27 million by 2031, registering a CAGR of 4.5% from 2023 to 2031. Increasing prevalence of infectious diseases and growing awareness about fungal infections are among the critical factors attributed to the South & Central America antibiotics & antimycotics market expansion.

Infectious diseases are caused by bacteria, viruses, parasites, fungi, and toxic substances. As per ReAct Group 2022 report, there were 77 million deaths reported globally linked to bacterial infection excluding tuberculosis, which accounts for 13.6% of total deaths globally. According to the World Health Organization (WHO), tuberculosis (TB) ranks 13th among the most common causes of death and 2nd among the most frequent infectious diseases, after COVID-19, globally. As per WHO data, 1.3 million people (including 214,000 people affected by HIV) succumbed to TB in 2022. Its estimations also state that 10.6 million people in the world had TB in 2022, including 1.3 million children, 3.5 million women, and 5.8 million men. 30 countries with high TB burdens accounted for 86-90% of new TB cases that year. Rifampin, isoniazid, pyrazinamide, and ethambutol are the prominent antibiotics approved by the US FDA for the treatment of Mycobacterium tuberculosis infections.

Hospital-acquired infections or healthcare-associated infections (HAIs) have high morbidity and mortality rates. They cost healthcare systems hefty amounts every year. Patients suffering from hospital-acquired diarrhea are treated using metronidazole and vancomycin, among other antibiotics. Ofloxacin, ceftriaxone, and amoxicillin/co-amoxiclav are the commonly prescribed antibiotics against urinary tract infections.

Furthermore, increasing fungal infections are one of major concerns among large population globally affecting millions. According to the Global Action Fund for Fungal Infections (GAFFI) 2024, every year more than 80 million people are at high risk of developing fungal disease and approximately 6.55 million patients develop life-threatening fungal infections annually, of which 3.75 million people die. Azoles and Amphotericin B are some of the common antimycotics sued for the treatment of fungal infections globally. Thus, the rising prevalence of various bacteria and fungi associated infectious diseases across the world creates a significant need for antibiotics and antimycotics.

On the contrary, antimicrobial resistance, financial barriers, and extensive regulatory processes hampers the growth of South & Central America antibiotics & antimycotics market.

Based on drug class, the South & Central America antibiotics & antimycotics market is segmented into penicillin, cephalosporines, carbapenems, macrolides, aminoglycosides, quinolones, sulfonamides, tetracyclines, azoles, and others. The penicillin segment held 49.3% share of the South & Central America antibiotics & antimycotics market in 2023, amassing US$ 1,463.24 million. It is projected to garner US$ 2,109.74 million by 2031 to expand at 4.7% CAGR during 2023-2031.

Based on indication, the South & Central America antibiotics & antimycotics market is segmented into skin infections, respiratory infections, urinary tract infections (UTI), septicemia, ear infections, gastrointestinal infections, and others. The respiratory infections segment held 37.1% share of the South & Central America antibiotics & antimycotics market in 2023, amassing US$ 1,101.32 million. It is projected to garner US$ 1,611.19 million by 2031 to expand at 4.9% CAGR during 2023-2031.

Based on route of administration, the South & Central America antibiotics & antimycotics market is segmented into oral, topical, and others. The oral segment held 51.4% share of the South & Central America antibiotics & antimycotics market in 2023, amassing US$ 1,526.12 million. It is projected to garner US$ 2,120.28 million by 2031 to expand at 4.2% CAGR during 2023-2031.

Based on distribution channel, the South & Central America antibiotics & antimycotics market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 55.8% share of the South & Central America antibiotics & antimycotics market in 2023, amassing US$ 1,657.61 million. It is projected to garner US$ 2,308.36 million by 2031 to expand at 4.2% CAGR during 2023-2031.

Based on country, the South & Central America antibiotics & antimycotics market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 52.7% share of South & Central America antibiotics & antimycotics market in 2023, amassing US$ 1,564.45 million. It is projected to garner US$ 2,257.85 million by 2031 to expand at 4.7% 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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