Moreover, factors such as increased government initiatives and funding for R&D activities & newer bacterial infection treatment and infection control in healthcare settings drive the global gram-positive bacterial infections market. North America dominated the global gram-positive bacterial infections market and is expected to maintain its position owing to a rise in the prevalence of bacterial infections, better diagnosis, and treatment rate in the region. Asia Pacific is a lucrative market for gram-positive bacterial infections. The market in Asia Pacific is expected to expand at a CAGR of 1.9% during the forecast period.
Request Sample of Gram-positive Bacterial Infections Market Report –
Increasing rate of gram-positive bacterial infections and rising antibacterial resistance to drive the global market
Rise in the number of infection cases due to gram positive bacteria is a major factor driving the global gram-positive bacterial infections market. These infections are more prevalent in recent times, which need better antibacterial drugs to cure. For instance, according to the study done by team of scientists from the University of Oxford, U.K. and the NHS Foundation Trust, U.K., cases of community-acquired pneumonia increased by 4% between 1998 and 2008 and 8% between 2008 and 2014, respectively. Rapid rise in antibacterial resistance and infection control in health care settings is also boosting the global market. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC) estimates, antibacterial resistance is responsible for over 2 million infections and 23,000 deaths in the U.S. each year. Similarly, increased government initiatives for newer bacterial infection drug discoveries is also major driver of the global gram-positive bacterial infections market.
Antibiotic to be dominant segment
Antibiotic is a dominant segment of the gram-positive bacterial infections market. It is expected to maintain its position and account for 62.2% share of the market by 2026, expanding at a CAGR of 1.4% between 2018 and 2026. The segment is anticipated to reach a value of US $ 36,535.9 Mn by 2026. Efficacy of antibiotics in treating a wide spectrum of bacterial infections and development of novel approaches for new antibiotics are likely to propel the segment of the global market during the forecast period.
Otitis segment to be highly lucrative
Sinusitis was a dominant segment of the gram-positive bacterial infections market in 2017. It is expected to maintain its position and hold 43.4% share of the market by the end of 2026. The otitis segment is anticipated to reach a value of US $ 2,252.8 Mn by 2026. It is projected to account for 3.8% share of the market by 2026 and expand at a CAGR of 3.1% during the forecast period. Otitis is a highly lucrative segment due to a rise in the prevalence of otitis media and the efficacy and safety of antibacterial agents to cure the infection.
North America expected to dominate global market
In terms of region, the global gram-positive bacterial infections market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017. The market in North America is projected to expand at a CAGR of 1.3% between 2018 and 2026. In terms of revenue, the market in North America was valued at US$ 19,222.8 Mn and the region held 37.4% share of the global market in 2017. This was due to a rise in the prevalence of bacterial infections, better diagnosis and treatment rate, and presence of major players in the region. The antibiotic segment dominated the market in the region. It is estimated to expand at a CAGR of 1.2% during the same period. Asia Pacific is projected to be a highly lucrative market and expand at a CAGR of 1.9% during the forecast period due to larger patient pool with bacterial infection, generic drug availability, and increase in awareness about various infections among the people in the region.
Bayer AG and Pfizer Inc. among major players in global market
The global gram-positive bacterial infections market is fragmented in terms of number of players. Key players operating in the global market include Bayer AG, Pfizer, Inc., Sanofi, GlaxoSmithkline plc (GSK), Merck & Co., Inc., AstraZeneca, Theravance Biopharma, Bristol-Myers Squibb Company, Novartis AG, and Allergan plc. R&D activities, more product pipelines, and merger & acquisitions with local players are major strategies adopted by these players in the global market.