LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global antibiotics market to grow at a CAGR of more than 2% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global antibiotics market for 2017-2021. The global antibiotics market is segmented into three regions based on geography which are APAC, the Americas, and EMEA. Among the regions, APAC dominated the market with the highest market share of more than 42% in 2016, followed by the Americas and EMEA. The high market share in APAC is due to the availability of increased patient pool and the rise in geriatric population.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global antibiotics market:
- Rising prevalence of infectious diseases
- Growing awareness of the various diseases and its treatment
- Special regulatory designations
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Rising prevalence of infectious diseases
Globally, there has been an increase in the number individuals affected by infectious diseases. Demographic changes caused by increased globalization and urbanization are a major factor leading to the global emergence of infectious diseases. Urbanization has led to the overcrowding of human inhabitation. High population densities in these areas favor colonization of disease pathogens and their persistence in human populations. An expansion of human cities has negatively affected our ecosystems and natural landscapes.
According to Sapna Jha, a lead analyst for infectious and rare diseases research at Technavio, “The growing number of dams, poor living conditions, lack of sanitation, and inadequate waste management systems are some of the other factors that have increased the incidence and prevalence of diseases. Also, changes in environmental conditions and the growing trade and travel are contributing to the increase in the occurrence of infectious diseases among people.”
Growing awareness of the various diseases and its treatment
The increased awareness of the various infections and their treatment options are leading to an increased use of drugs for the treatment of these diseases in the initial stages. This helps to prevent the aggravation of the disease and helps in the early-stage treatment. The awareness of these health issues can be increased by the presence of various programs. For instance, November 18, 2014, was celebrated as European Antibiotic Awareness Day to raise awareness of antibiotic resistance and promote judicious use of antibiotics. The HSS has developed "Healthy People 2020," which aims at the prevention and treatment of infectious diseases. Such awareness programs about the disease and the available treatment options increase the number of treatment-seeking population, thus driving the growth of the global antibiotics market.
Special regulatory designations
The increased rate of development of multidrug-resistant pathogens coupled with the limited number of drugs available for the treatment led to the development of GAIN Act by the US FDA. According to this act, any drug being developed for the treatment of "qualified infectious disease" will be granted a QIDP designation. This QIDP designation helps in the attainment of fast track designation and priority review for the drug. Thus, the drug will be developed at a faster rate and released into the market.
“The US FDA provides fast track designation to drugs used for treating serious diseases and addressing unmet medical needs. This designation includes benefits such as the eligibility for priority review for NDA if relevant criteria are met. This designation helps in the faster entry of the drugs into the market, thus boosting the market growth,” says Sapna.
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