Global Cephalosporin Market Expected to Reach $4,980 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, February 1, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Cephalosporin Market by Generation, Type, Route of Drug Administration, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global cephalosporin market was valued at $3,136 million in 2016, and is projected to reach $4,980 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The third-generation cephalosporin segment held around one-third share of the total market in 2016.
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Cephalosporin is a group of semisynthetic, broad-spectrum antibiotics, which is majorly used to treat bacterial infections. The major factors contributing to the growth of the market include increase in incidence of population suffering from pneumonia, tonsillitis, bronchitis, and gonorrhea. In addition, increase in R&D activities to develop highly efficient & safe drugs and upsurge in use of combination therapies further boost the market growth. However, side effects associated with cephalosporin and development of drug-resistant bacterial strains restrain the market growth.
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Third-generation cephalosporin segment is expected to dominate the market throughout the analysis period, as these have a broader spectrum of activity. Fifth-generation cephalosporin is expected to register highest CAGR of 7.6% during the forecast period.
KEY FINDINGS OF THE STUDY
- Fifth-generation cephalosporin is projected to grow at a CAGR of 15.6% during the forecast period.
- Branded cephalosporin segment is expected to register the highest CAGR of 14.4% during the analysis period.
- Injectable cephalosporin is accounted for more than two-fifths share of the global cephalosporin market in 2016.
- France and Germany collectively contributed for around one-third share of the European cephalosporin market in 2016.
- Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific cephalosporin market in 2016.
Asia-Pacific is projected to register the highest CAGR of 16.1% during the forecast period, owing to increase in incidence of infectious diseases. In addition, rise in healthcare expenditure is anticipated to offer a lucrative opportunity for the market growth.
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The major companies profiled in the report include Allergan Plc, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Lupin Limited, Merck & Co., Inc., Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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