Antibiotics Market Expected to Grow at a CAGR of 4.5% from 2021 to 2028
Antibiotics Industry Overview The global antibiotics market size was valued at USD 40.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2028. The rising prevalence of infectious diseases and supportive government legislation are the major drivers of the market. Moreover, an increase in antibiotic resistance infections due to misuse or overuse of antibiotics is expected to shift the prescription patterns to novel therapies to treat bacterial infection. According to the CDC, the incidence of antibiotic-resistant infections is more than 2.8 million in the U.S. The pathogens such as Enterobacteriaceae, P. aeruginosa, and K. pneumoniae have a high resistance rate of an average of 40% in developed countries. The increased efforts of pharmaceutical companies for the development of novel therapies to treat infectious diseases are expected to drive the market over the forecast period. According to Pew Charitable Trust, in December 201...