Published Date: 30-Aug-2023
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According to a new report, published by KBV research, The Global Penicillin Drug Market size is expected to reach $10.9 billion by 2030, rising at a market growth of 3.6% CAGR during the forecast period.
The Semisynthetic Penicillin segment is leading the Global Penicillin Drug Market by Source in 2022; thereby, achieving a market value of $8.8 billion by 2030. Compared to natural penicillin, semisynthetic penicillin exhibits a wider range of activity. In addition, some gram-negative bacteria have been genetically altered to target a wider variety of microorganisms. Semisynthetic penicillin is recommended for treating many diseases because of its improved protection against a wider range of bacterial pathogens.
The Extended spectrum segment is experiencing a CAGR of 3.8% during (2023 - 2030). Semi-synthetic derivatives of ampicillin are extended-spectrum penicillins. Due to a larger affinity for PBPs and greater penetration through the gram-negative outer membrane, they have enhanced efficacy against gram-negative pathogens. In addition to the advantages offered by these drugs over natural penicillins are growing public awareness about the use of combination drugs for treating bacterial infections, the introduction of extended-spectrum penicillins and their reputed synergistic effect with aminoglycosides brought in a new era of antibiotic therapy in the treatment of burn infections.
The Drug Stores & Retail Pharmacies segment acquired maximum revenue share in the Global Penicillin Drug Market by Distribution Channel in 2022; thereby, achieving a market value of $4.9 billion by 2030. Due to the availability of a variety of penicillin drugs in drug stores or retail stores to satisfy the needs of consumers. The availability of skilled pharmacists that examine prescriptions guarantee proper dosages, offer counseling on the use of penicillin and potential side effects, and provide cost-saving measures all contribute to the expansion of market in this segment.
The Oral segment is experiencing a CAGR of 4.3% during (2023 - 2030). Penicillin V oral tablets are used to treat a variety of bacterial illnesses. Scarlet fever, erysipelas, and streptococcal upper respiratory tract infections are bacterial illnesses this medication can treat. The benefits that oral drugs have over parenteral medications boost their market demand. Compared to parenteral formulations, oral penicillin medications are more affordable because they do not require specialist equipment or medical personnel for administration.
The Asia Pacific region dominated the Global Penicillin Drug Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.2 billion by 2030. The Europe market is poised to grow at a CAGR of 3.2% during (2023 - 2030). Additionally, The North America market would register a CAGR of 2.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/penicillin-drug-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Spectrum of Activity
By Distribution Channel
By Route of Administration
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