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.
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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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SOURCE Allied Market Research
