As competition grows strong in the global antibacterial drugs, the leading players are finding it more convenience to collaborate with rivals to expand their product offering as well regional footprint worldwide. In a new study, Transparency Market Research (TMR) has identified Bayer AG, Pfizer Inc., Sanofi, GlaxoSmithKline Plc. (GSK), Merck & Co., Inc., AstraZeneca, Johnson and Johnson, Bristol Myers Squibb Company, Novartis Ag, and Allergen Plc as some of the most prominent enterprises operating in the global antibacterial drugs market. To gain a competitive edge, Pfizer signed an agreement with AstraZeneca in August 2016. This collaboration was intended to acquire the commercialization and development rights of late-stage small molecule anti-infective business. Besides this, the market witnessed several other partnerships, collaborations, and acquisitions aimed at catapulting businesses to the forefront of the global antibacterial drugs market.
Despite strategies toyed by businesses to gain traction, the subpar pace of growth is unlikely to change for the global antibacterial drugs market. According to TMR, the global market is likely to exhibit a CAGR of 1.5% between 2017 and 2025. Given the growth pace, the market is expected to reach US$51,447.6 mn by the end of 2025, from US$45,325.0 mn in 2016. While North America held dominance in the global antibacterial drugs market in 2016, TMR forecasts sluggish growth for the region through the forecast period. In terms of drug-class, the B-lactam segment led the market in 2016.
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Antibacterial Drugs Market Witnesses Threat from Looming Patent Expiries
The rising population of aged people, escalating number of bacterial strains, which are multidrug resistant, and the rising demand for effective yet affordable antibacterial drugs will give the market considerable boost over the forecast period. In addition, TMR predicts the global antibacterial drugs market to gain significantly from the increasing incidence of infectious diseases. It is also likely to gain from the rising demand for innovative molecules. Despite the aforementioned growth prospects, the advent of genetic drugs for antibacterial activities threatens the overall market. The looming patent expiries are also identified as key factors restraining the market. Furthermore, the research and development activities conducted in the field is insufficient as per many experts. This could pose significant threat to the overall antibacterial drugs market in the coming years.