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Shibuya-ku, Tokyo, Japan, Japan, May 31, 2022, 04:45 /Comserve / -- Levofloxacin Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The global Levofloxacin market was anticipated to grow with a CAGR of nearly 5.1% during the forecast period. Rise in the cases of bacterial infectious diseases along with growing number of baby boomers is the main factor driving the growth of this market. As per the World Health Organization, pneumonia accounts for 15% of all deaths of children under 5 years old, killing 8,08,694 children in 2017. High burden of antibiotic-resistant infections and emergence of multi-drug resistant pathogens have been augmenting the market.
Increasing efforts undertaken by major companies for the development of advanced products will also support market growth. Involvement of international organizations serves as a catalyst in levofloxacin market. Funding bodies such as BARDA are supporting biotech companies with financial support to complete early stage development of their novel therapies for infectious diseases. Furthermore, supportive government legislation, such as the Generating Antibiotics Incentives Now (GAIN) Act, are anticipated to bolster the approval process. The legislation aims to promote the development of therapies for growing burden and severity of antibiotic-resistant infections. These factors are also supporting the development and uptake of levofloxacin antibiotics.
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However, lack of awareness associated with infectious disease may hamper business growth in the future.
Key Market Trends
Pneumonia Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
- Pneumonia by application segment is expected to dominate of the global Levofloxacin market through the forecast period. Increasing incidence of pneumococcal disease is a high impact rendering driver. Over the years, there has been a significant upsurge in number of community-acquired and ventilator-associated bacterial pneumonia.
- These infections pose treatment challenges for physicians due to high resistance to current treatment alternatives, thereby imposing a high cost burden. According to World Health Organization, The cost of antibiotic treatment for all children with pneumonia is estimated at around US$ 109 million per year. The aforementioned factors driving the demand for the product.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America is leading owing to the presence of major market players. Furthermore, factors such as increasing prevalence of chronic diseases, treatment cost, technological advancements, and product launches are expected to drive the regional growth. Also, various government initiatives aimed at prevention and treatment of pneumonia are responsible for creating a positive impact across North America. For instance, the Integrated Global Action Plan for Pneumonia and Diarrhea by UNICEF and WHO is aimed at minimizing preventable child deaths due to diarrhea and pneumonia. This initiative is focused on interventions & services that raise awareness and increase access to treatment & preventive measures will flourish the regional growth for the levofloxacin market.
Asia Pacific is expected to show exponential growth throughout the forecast period. This growth can be attributed to increase in prevalence of pneumococcal disease, unmet patient needs, increased cases of antimicrobial resistance, and rise in disorders leading to weakened immune system thereby contributing to the growth of the region.
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Competitive Landscape
The market for levofloxacin is consolidated and consists of the global as well as local players. The consolidated environment is marked by key players extensively deploying sustainability strategies. LUPIN LIMITED, Glenmark Pharmaceuticals, Dr. Reddy's Laboratories Ltd. and Zydus Cadila are some of the most notable companies. These companies are involved in new product development initiatives, mergers & acquisitions, and geographical expansion.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Number of Baby Boomers
4.2.2 Growing Incidence of Bacterial Infections
4.2.3 Supportive Government Legislation
4.3 Market Restraints
4.3.1 Lack of Awaeness Assoiated with Infectious Disease
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
For more information about this report visit: Levofloxacin Market
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