The global carbapenem market size is expected to reach USD 5.7 billion by 2030, according to a new study by Polaris Market Research. The report “Carbapenem Market Share, Size, Trends, Industry Analysis Report; By Product Type (Meropenem, Doripenem, Imipenem, Tebipenem, And Others); By Sales Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Generic versions of antibiotics are popular due to their availability and affordability. In addition, the expiry of patented carbapenem-based antibiotics has widen-up opportunities for generic drug manufacturers to enter the market with their cost-efficient drugs. The focus of generic drug producers is to increase the reach of these drugs.
Moreover, the shortage of antibiotics to treat bacterial infections is also one of the prime factors driving the market’s growth. The increased production of generic carbapenem-based antibiotics has increased drug availability in various low- and middle-income countries.
North America is expected to grow steadily due to the increased adoption of carbapenem-based antibiotics, a high antibiotic prescription rate, and advances in research and development leading to the emergence and launch of new medicines.
However, the Asia Pacific market is expected to grow the fastest in the coming years. The carbapenem-based antibiotics market in India and China is expected to grow rapidly due to factors such as the large population, increased focus of major players on developing novel vaccines and products at affordable prices, and high market penetration of market players manufacturing generic drugs.
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Furthermore, the growing number of generic players on the market hastened generic drug production. Many Asian companies are working to develop active pharmaceutical ingredients (API), which are needed to manufacture generic carbapenem-based antibiotics.
JW Pharmaceutical, a South Korean company, announced in June 2021 that it had completed production of its API for Ertapenem injection and had shipped it to the United States. In the coming years, the company intends to enter the global carbapenem antibiotic market. Furthermore, the company intends to expand Imipenem and Meropenem API and finish drug sales by exporting them to over 40 countries, including China and Japan. As a result, companies are speeding up generic drug production and propelling the global carbapenem-based antibiotics market forward.
According to a report from the Centers for Disease Control and Prevention (CDC), patients receiving immunosuppressive therapy are particularly vulnerable to hospital-acquired pneumonia (HAP). As the number of hospital-acquired pneumonia cases rises, particularly among patients with other chronic diseases such as cancer, the demand for broad-spectrum antibiotics for treatment will rise, accelerating sales of carbapenem-based antibiotics.
As the number of hospital-acquired bacterial illnesses rises, so will the demand for carbapenem-based antibiotics for pneumonia and other infections. High demand for carbapenem-based antibiotics in hospitals before surgery will drive the market.
According to a World Health Organization report, there is a global shortage of antibiotic resistance bacterial infection treatments. These worries will increase demand for generic carbapenem-based antibiotics, which are used to treat conditions such as urinary tract infections, bacterial meningitis, and other infections. Due to their low cost, these generic carbapenem antibiotics are affordable in low-income nations.
Carbapenem Market Report Highlights
Polaris Market Research has segmented the carbapenem market report based on product type, sales channel and region:
Carbapenem, Product Type Outlook (Revenue - USD Billion, 2022 - 2030)
Carbapenem, Sales Channel Outlook (Revenue - USD Billion, 2022 - 2030)
Carbapenem, Regional Outlook (Revenue - USD Billion, 2022 - 2030)