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 Outlook
The antibiotics market estimated size and share is projected to exceed USD 51.5 billion by 2028, with a forecasted CAGR of 4.2% during the 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.
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By Product |
By Application |
By End-Use |
By Region |
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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.
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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
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Report Attributes |
Details |
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Market size value in 2020 |
USD 40.1 billion |
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Revenue forecast in 2028 |
USD 51.5 billion |
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CAGR |
4.2% from 2021 - 2028 |
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Base year |
2020 |
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Historical data |
2016 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Segments covered |
By Product, By Application, By End Use, and By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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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. |
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