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Antibiotics Market Share, Size, Trends, Industry Analysis Report, By Product (Software, Device, Storage System); By Application (Drug Discovery & Development, Academic Research, Disease Diagnosis): By End-Use; By Region; Segment Forecast, 2021 - 2028

  • Published Date: Oct 2021
  • Pages: 111
  • Format: PDF
  • Report ID: PM2083
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global antibiotics market was valued at USD 40.1 billion in 2020 and is expected to grow at a CAGR of 4.2% during forecast period. The most prominent and pivotal factors driving market growth of antibiotics are companies increased focus on improving workflow efficiency for better and more accurate diagnostic capability, the rise in prevalence of chronic diseases, and clinical urgency to adopt digital initiatives to improve patient outcomes and enable cost reductions.

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Rapid technological advancements in digital pathology systems are one of the main factors that escalated the adoption of antibiotics. Growth in computerization, microscopy techniques, digital imaging and analysis, development of in-silico simulation tools, and fiber optic communications are the ancillary factors contributed to the global market growth of antibiotics. In comparison to conventional microscopes, whole side imaging has more operational capabilities, which is expected to favor the market of antibiotics in the coming years.

Report Segmentation

The market is primarily segmented on the basis of product, application, end use, and region.

By Product

By Application

By End-Use

By Region

  • Software
  • Device
  • Storage System
  • Drug Discovery & Development
  • Academic research
  • Disease Diagnosis
  • Hospitals
  • Biotech & pharma companies
  • Diagnostic Labs
  • Academic & research institutes
  • North America (U.S., Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

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Insight by Product

Device segment of antibiotics accounted for the largest revenue share in 2020. Mostly consumed product types include scanner and slide management systems. Enhanced resolution and surge in research activities are few segment drivers that boosted the market growth of antibiotics. Advancements in magnification and scanning capabilities of the slides towards the Z-axis, such as whole slide imaging, also boosted the segment’s antibiotics growth prospects.

Storage systems of antibiotics segment is projected to witness a lucrative growth rate over the assessment period. Increased storage capabilities, rising market demand in online storage platforms, and advancements in cloud data storage for easy interoperability are the few factors favoring the segment’s antibiotics growth. Online and cloud storage has more advantages such as cost reduction, data reliability, image lifecycle management with better patient outcomes.

Insight by Application

In 2020, the academic research segment of antibiotics accounted for the largest share. This high share is attributed to its wide applicability in several research processes, including tumor morphological studies and biomarker profiling.

Disease diagnosis segment is projected to witness lucrative market growth over the assessment period, owing to rising prevalence of chronic diseases. Manufacturer’s focus on developing rapid diagnostic techniques, and enabling digital technologies in improving diagnostic delays to share information in between two departments. The segment is also driven by rise in cancer detection as rising cases of cancer cases all across the globe and ongoing research activities.

Insight by End-Use

In 2020, the hospital segment of antibiotics accounted for the largest share. This is due to the fact, hospitals are better equipped with adoption of digital scanning technologies for real time diagnosis and better patient outcome. Biotech companies’ segment is anticipated to register fastest growth rate over the assessment period. This is due to rise in digital pathology in several other fields such as clinical trials, pre-clinical studies, and drug discovery. The rising cancer cases and better treatment options is also expected to fuel the segment growth prospects.

Geographic Overview

Geographically, the global market of antibiotics is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is the largest revenue contributor, followed by Europe and the Asia Pacific region.

In the North American region supportive government policies increased research and development investments towards its diagnostic ability, and prominent players in the region are expected to drive its market growth. Moreover, favorable reimbursement policies and rising use of digital pathology systems for the early diagnosis of disease are projected to fuel the region’s market growth of antibiotics.

APAC is projected to register lucrative market growth rate of antibiotics over the assessment period. This is due to rising penetration of digital imaging in low and middle-income countries, huge population base with untapped growth opportunities, and growing presence of international firms operating in the marketplace with small booming indigenous start-ups. The regional industry is expected to be driven by rising market demand for novel treatment options, rising laboratory expenses, and better healthcare facilities.

Competitive Landscape

The prominent players operating in the antibiotics market are Abbott Laboratories, Allergan, Bayer AG, Cumberland Pharmaceuticals, Inc., Danaher, GlaxoSmithKline plc, Melinta Therapeutics, Merck & Co. Inc., Mylan, Nabriva Therapeutics plc, Novartis, Pfizer Inc., Roche, Sanofi, Teva Pharmaceutical Industries Ltd.

Antibiotics Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 40.1 million

Revenue forecast in 2028

USD 51.5 million

CAGR

4.2% from 2021 - 2028

Base year

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Segments covered

By Product, By Application, By End Use, and By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

Abbott Laboratories, Allergan, Bayer AG, Cumberland Pharmaceuticals, Inc., Danaher, GlaxoSmithKline plc, Melinta Therapeutics, Merck & Co. Inc., Mylan, Nabriva Therapeutics plc, Novartis, Pfizer Inc., Roche, Sanofi, Teva Pharmaceutical Industries Ltd.

Key Take-Away
Polaris Market Research
Antibiotics Market | 2021-28 | Trends, Size Report