Newark, NJ, Aug. 25, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global amoxicillin market is expected to grow from USD 4.50 billion in 2019 to USD 5.03 billion by 2027, at a CAGR of 1.5% during the forecast period 2020-2027.
The prevalence of bacterial infections worldwide, mainly in developing countries and low-income nations, is the key reason for the growing demand for the amoxicillin. Other factors, such as growing awareness regarding antibiotics & bacterial infections and advancements in medical science, boost the market growth. As per the WHO, pneumonia was accounted for one-fifth of children’s deaths worldwide in 2013, and about 1.1 million children die each year from pneumonia. Every 30 seconds, a child below the age of 5 dies due to pneumonia.
Amoxicillin is an antibiotic that is employed to cure various bacterial infections, including infections of the skin, middle ear, respiratory tract, and urinary tract. It is commonly known by the brand name Amoxil. It is generally taken via the mouth, and less frequently through injection. Common side effects of amoxicillin include rash, nausea, increased risk of yeast infection, and diarrhea when used with clavulanic acid. The severity of the potential side effects of amoxicillin is anticipated to hamper the growth of the amoxicillin market to some extent. Amoxicillin is among the antibiotics that are most widely used in children. According to the World Health Organisation (WHO), the most commonly used antibiotics worldwide are amoxicillin in combination with clavulanic acid. The growing uses of this medicine in combination with other drugs, are expected to fuel the growth of the demand for amoxicillin.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the amoxicillin market. With less disposable income and broken supply chains, the growth of the market is expected to slow down.
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Key players operating in the global amoxicillin market include Sandoz AG, Sinopharm Weiqida, Merck KGaA, CSPC Pharmaceutical Group Limited, Teva Pharmaceuticals USA, Inc., United Laboratories, GlaxoSmithKline plc, NCPC Xianati, Sun Pharmaceuticals Industries Limited, and DAEWOONG CO.LTD., among others. To gain a significant market share in the global amoxicillin market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. GlaxoSmithKline and Sun Pharmaceuticals Industries Limited are some of the biggest manufacturers and suppliers of amoxicillin in the global market.
- For instance, Novartis subsidiary Lek expanded the Slovene antibiotics factory in January 2017. The factory is used to manufacture amoxicillin, and the expansion would boost antibiotic output.
- JAMP Pharma concluded a cooperation deal with Alvotech to market five biosimilar drugs in Canada in January 2020.
Tablet dominated the market and held the largest market share of 64.25% in the year 2019
The dosage form segment includes capsule, tablet, and suspension. Tablet dominated the market and held the largest market share of 64.25% in the year 2019. This dominance is due to key factors like the low cost of amoxicillin tablets relative to other dosage forms, storage convenience, and ease of administration.
Respiratory tract infection dominated the market and valued at USD 0.72 Billion in the year 2019
The infection segment includes urinary tract infection, respiratory tract infection, skin infection, ear infection, chest infection, bacterial endocarditis, and others. Respiratory tract infection dominated the market and valued at USD 0.72 Billion in the year 2019. The respiratory tract infection segment is expected to continue dominating the market due to the rising occurrence of respiratory diseases like pneumonia among children and the efficacy of amoxicillin against such diseases.
Retail pharmacies dominated the market and held the largest market share of 52.79% in the year 2019
The distribution channel includes hospital pharmacies, online pharmacies, and retail pharmacies. Retail pharmacies dominated the market and held the largest market share of 52.79% in the year 2019. Due to their convenient access and wide distribution across areas, retail pharmacies held a significant market share.
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Regional Segment Analysis of the Amoxicillin Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global amoxicillin market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 37.9% in the year 2019. This is mainly due to key factors such as the rise in the occurrence of respiratory infections, growing awareness regarding antibiotics & bacterial infections, and the presence of key players in the region. North America led the global market in 2019, followed by Europe in the second position in terms of market share. With high population growth in countries such as India, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Other factors like increasing investment by the pharmaceuticals, technological advances, and rising prevalence of diseases are boosting the growth of this market.
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About the report:
The global amoxicillin market is analyzed on the basis of value (USD Billion),. All the segments have been analyzed on global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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