Visiongain has published a new report on “European Antibiotics Market 2021-2031”. Forecasts by Drug Class (Cephalosporin, Fluoroquinolone, Penicillin, Carbapenem, Macrolide, Sulfonamide, Amino glycoside, 7-AC, Others), Action Mechanism (Protein Synthesis Inhibitors, Cell Wall Synthesis Inhibitors, RNA Synthesis Inhibitors, DNA Synthesis Inhibitors, My colic Acid Inhibitors, Others), Gender (Male, Female), Age (0-14 years, 15-54 years, 55 years and above), Route of Administration (Oral, Intravenous, Others), Country (Germany, UK, France, Italy, Spain, Russia, Denmark, Norway, Sweden, Finland, Netherlands, Rest of Europe), PLUS COVID-19 Recovery Scenarios
European antibiotics market size was valued at US$11,484.1million in 2020 and is further expected to reach US$ 14,711.6million in 2026 while growing at a CAGR of 4.18% during the first half of the forecast period i.e., 2021 to 2026. The European market size is further projected to reach US$17,778.6million by 2031 at a CAGR of 3.86% from 2026 to 2031. The overall CAGR for the European antibiotics market is expected to be 4.02% from 2021 to 2031.
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Key Questions Answered by this Report:
• What is the current size of the overall European Antibiotics market? How much will this market be worth from 2021 to 2031?
• What are the main drivers and restraints that will shape the overall European Antibiotics market over the next ten years?
• What are the main segments within the overall European Antibiotics market? How much will each of these segments be worth for the period 2021 to 2031? How will the composition of the market change during that time, and why?
• What factors will affect that industry and market over the next ten years?
• What are the largest national markets for the European Antibiotics? What is their current status and how will they develop over the next ten years? What are their revenue potentials to 2031?
• How will market shares of the leading national markets change by 2031, and which geographical region will lead the market in 2031?
• Which are the leading companies and what are their activities, results, developments, and prospects?
• What are the main trends that will affect the European Antibiotics market between 2021 and 2031?
• What are the main strengths, weaknesses, opportunities, and threats for the market?
• How will the European Antibiotics market evolve over the forecasted period, 2021 to 2031?
• How will market shares of prominent national markets change from 2021, and which countries will lead the market in 2031, achieving highest revenues and fastest growth?
Internationalization Technique Anticipated to Offer Lucrative Growth Prospects for European Antibiotics Market Players
Internationalization is the most known technique used by all companies in the antibiotics supply market. In terms of revenue and activities, most companies operate in multiple countries. Internationalization can also be explained by the fact that diseases that need antibiotic treatment occur in many countries, resulting in related needs on different markets. Furthermore, pharmaceutical firms try to expand into new markets to offset their high fixed costs (for example, R&D if they are dealing with branded/patented drugs, while generics companies have an advantage in selling the same product in different markets because they have fixed costs for producing and releasing their generic products).
COVID-19 Impact Analysis
Almost every country is struggling with the COVID-19 crisis. Most markets are declining as a result of the COVID-19 epidemic, which has had a negative impact on a variety of healthcare-related industries. In the future, this pandemic is projected to provide growth prospects for European antibiotics market players owing to rising health awareness coupled with growing government initiatives to tackle the pandemic.
Growing Demand for Generic Drugs to Offer Lucrative Growth Prospects
European antibiotics is segmented on the basis of drug class into cephalosporin, penicillin, fluoroquinolone, macrolide, carbapenem, aminoglycoside, sulfonamide, 7-ACA. Penicillin segment holds majority of the market share owing to maximum prescription as well as the most generic manufacturers throughout the industry. Furthermore, the growth is anticipated to be fueled by a rise in demand for generic drugs. Generic medications tend to be less expensive than their brand-name counterparts. As a result, demand for generic drugs is surging in the market, thus anticipated to boost the growth of the penicillin segment. According to Visiongain analysis, over the forecast period from 2021 to 2031, fluoroquinolone & cephalosporin segments are anticipated to expand with significant growth rate of 5.68% and 5.50% respectively. The commercialization of new drugs during the forecast period from 2021 to 2031 is anticipated to fuel the growth of these segments.
To strengthen their position in the European antibiotics market, top companies are forming various strategies such as mergers, acquisitions, joint ventures (JVs), partnerships, collaborations, new product launch, expansion of R&D, distribution, and management facilities among others. For instance, in July 2020, Novartis (Sandoz's generics unit) and the Austrian government announced a US$176 million investment over the next five years to boost antibiotics manufacturing at a Novartis plant in Austria. This is expected to introduce new process technology for producing penicillin APIs across the region. Abbott Laboratories, Allergan (AbbVie Inc.), Cipla Ltd, Cumberland Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, GlaxoSmithKline Plc, Novartis International AG, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and Viatris (Mylan).are some of the major players profiled in the report.
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