The North America Penicillin Drug Market would witness market growth of 2.7% CAGR during the forecast period (2023-2030).
Skin infections, tooth infections, ear infections, nose, throat, or lungs infections, urinary tract infections, and other bacterial diseases are all common health concerns worldwide. The bacteria Streptococcus pneumonia, Listeria, Neisseria gonorrhea, Clostridium, Peptococcus, and Peptostreptococcus belong to the organisms that penicillin is effective against.
The enormous prevalence of pneumonia and other respiratory tract illnesses is a factor in the market's expansion. Since penicillin is an established and reliable antibiotic, it continues to be the first line of treatment for many bacterial illnesses. The increasing prevalence of these illnesses in both public and medical settings necessitate the use of penicillin and fuels the expansion of the market.
Additionally, improvements in healthcare infrastructure and accessibility to healthcare services greatly impact the market share. The identification and treatment of bacterial infections have improved due to improving healthcare infrastructure, particularly in developing nations. The availability and accessibility of penicillin are improved as healthcare systems grow, resulting in higher consumption and market expansion.
The American Cancer Society reports that in 2018, there were roughly 154,050 lung cancer-related deaths in the United States, with an estimated 234,030 new cases of lung cancer being diagnosed. 541,000 Americans have been given a lung cancer diagnosis at some point in their lives, according to the American Lung Association. Many patients have received a lung cancer diagnosis during the last five years. Each year, non-small cell lung cancer (NSCLC) is treated in tens of thousands of Americans. Additionally, chronic diseases are becoming more common in the region. Because of the increase in cancer incidence, there is a greater need for products such as penicillin drugs, which boosts the regional market.
The US market dominated the North America Penicillin Drug Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.1 billion by 2030. The Canada market is poised to grow at a CAGR of 5% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 4.1% during (2023 - 2030).
Based on Source, the market is segmented into Semisynthetic Penicillin and Natural Penicillin. Based on Spectrum of Activity, the market is segmented into Broad spectrum, Extended spectrum and Narrow spectrum. Based on Distribution Channel, the market is segmented into Drug Stores & Retail Pharmacies, Hospital Pharmacies and Online Providers. Based on Route of Administration, the market is segmented into Parenteral and Oral. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Penicillin Drug Market is Projected to reach USD 10.9 Billion by 2030, at a CAGR of 3.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GlaxoSmithKline PLC (GSK), Pfizer, Inc., Novartis AG, Lupin Limited, Abbott Laboratories, Cipla Limited, Takeda Pharmaceutical Company Limited, Alkem Laboratories Ltd., Teva Pharmaceuticals Industries Ltd., Sun Pharmaceutical Industries Ltd.
By Source
By Spectrum of Activity
By Distribution Channel
By Route of Administration
By Country
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