(MENAFN- EIN Presswire) Beta-lactam and Beta-lactamase Inhibitor Market
Asia-Pacific region emerged as the primary revenue generator for the worldwide beta-lactam and beta-lactamase inhibitors market in 2018
PORTLAND, OREGON, UNITED STATES, July 17, 2023/einpresswire.com / -- The global beta-lactam and beta-lactamase inhibitors market size was $27,126 million in 2018, and is projected to reach $34,170 million by 2028, growing at a CAGR of 2.3% from 2019 to 2028.
The pharmaceutical industry plays a critical role in combating infectious diseases and improving global healthcare. Among the key players in this industry are beta-lactam and beta-lactamase inhibitors, which have proven to be effective in treating a wide range of bacterial infections. One region that has stood out as a prominent contributor to the growth of this market is the Asia-Pacific. In 2018, the Asia-Pacific region took the lead as the primary revenue generator for the global beta-lactam and beta-lactamase inhibitors market, and this dominance is expected to endure throughout the forecast period. This blog explores the factors that have led to Asia-Pacific's continued prominence in this vital pharmaceutical sector.
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Burgeoning Population and High Disease Burden:
The Asia-Pacific region is home to nearly 60% of the world's population, with countries such as China and India having populations exceeding one billion each. The sheer size of the population contributes to a higher incidence of infectious diseases, making the demand for antibiotics and beta-lactamase inhibitors significantly higher in this region. As the healthcare infrastructure improves and access to medical facilities increases, the need for effective treatments also rises, propelling the market forward.
Growing Investment in Healthcare:
In recent years, several Asia-Pacific countries have made substantial investments in their healthcare systems. Governments in the region are allocating more funds to improve healthcare infrastructure, expand medical facilities, and enhance research and development capabilities. This investment fosters the development of innovative pharmaceutical products, including beta-lactam and beta-lactamase inhibitors, further boosting the market's growth.
Rising Prevalence of Antibiotic Resistance:
The Asia-Pacific region has been grappling with antibiotic resistance, a major global health concern. As the improper and excessive use of antibiotics continues, more bacteria are becoming resistant to traditional treatments, necessitating the adoption of advanced drugs like beta-lactam and beta-lactamase inhibitors. As a result, pharmaceutical companies are increasingly focusing on research and development in this area, driving market growth in the region.
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Favorable Regulatory Environment:
Governments in the Asia-Pacific region have been proactive in streamlining regulatory processes and creating a conducive environment for pharmaceutical companies to conduct clinical trials and bring new drugs to market. This supportive regulatory landscape facilitates quicker approvals for beta-lactam and beta-lactamase inhibitors, expediting their availability to patients in need.
Collaborations and Partnerships:
To leverage regional expertise and expand their market presence, international pharmaceutical companies are partnering with local firms in the Asia-Pacific region. These collaborations help establish a stronger foothold in the market, better understand the local dynamics, and tailor their products to suit the specific needs of the population.
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Key Findings of the Beta-lactam and Beta-lactamase Inhibitor Market
Based on drug class, cephalosporin segment was the major revenue contributor in 2018 and is anticipated to continue this trend during the forecast period.
Based on disease segment, its complicated intra-abdominal infection (cIAI) is expected to exhibit the highest CAGR with 4.8% during the forecast period.
Depending on route of administration, the oral segment was the largest revenue contributor in 2018 and expected to continue this trend from 2019 to 2028.
U.S. generated the highest revenue in the global beta-lactam and beta-lactamase inhibitors in 2018, accounting more than one-fifth of the global market in 2018.
LAMEA is estimated to grow at a highest CAGR during the forecast period.
Beta-lactam and Beta-lactamase Inhibitors Market Players
Merck & Co. Inc.
Abbott Laboratories
Teva Pharmaceutical Industries Ltd.
Pfizer Inc.
Sanofi
Mylan N.V.
F. Hoffmann-La Roche Ltd.
Novartis International AG (Sandoz)
Allergan Plc.
GlaxoSmithKline plc
Conclusion:
The Asia-Pacific region's ascent as the leading revenue contributor to the global beta-lactam and beta-lactamase inhibitors market in 2018 was no coincidence. It reflects a combination of factors, such as a large and growing population, increased investments in healthcare, the challenge of antibiotic resistance, supportive regulatory frameworks, and strategic collaborations. As the forecast period progresses, it is evident that Asia-Pacific will continue to play a pivotal role in the growth and advancement of the beta-lactam and beta-lactamase inhibitors market, ultimately contributing to improved healthcare outcomes for millions of people worldwide.
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David Correa
Allied Analytics LLP
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