Neomycin Sulfate: Introduction
- Neomycin sulfate is a medication used to reduce the risk of infection after certain intestinal surgeries. Neomycin belongs to a class of drugs known as aminoglycoside antibiotics. It works by stopping the growth of bacteria in the intestines.
- Neomycin could also be used along with a special diet to treat a certain serious brain problem (hepatic encephalopathy). This condition is caused by too much of a certain natural substance (ammonia). Normally, the liver gets rid of ammonia; however, liver disease can cause too much ammonia to build up in the body. This medication helps treat encephalopathy by killing certain intestinal bacteria that make ammonia.
Key Drivers of Global Neomycin Sulfate Market
- Neomycin, an antibiotic, is used to prevent or treat skin infections caused by bacteria. Bacterial skin infections can be classified as skin and soft tissue infections (SSTI) and acute bacterial skin and skin structure infections (ABSSSI). It is not effective against fungal or viral infections. According to the American Academy of Dermatology, one in four people in the U.S. suffers from skin disorder and 50% of them are over 65 years age.
- Major players focus on launch of new products in untapped regions, partnership, collaboration, and acquisition. This is projected to boost the growth of the global neomycin sulfate market during the forecast period. However, few side effects such as nausea and vomiting are anticipated to restrain the global neomycin sulfate market.
- Segment to be Highly Promising
- Based on product type, the global neomycin sulfate market can be segmented into cream, ointment, and others
- The cream segment accounted for prominent share of the global neomycin sulfate market in 2019. The segment is expected to dominate the global market due to easy to apply and increase in preference for cream in bacterial skin infection.
Hospital Pharmacies to be Most Promising Segment
- In terms of distribution channel, the global neomycin sulfate market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies was the largest segment of the market in terms of revenue in 2019 and is anticipated to witness strong growth during the forecast period.
- Increase in number of patients with bacterial skin infection such as skin and soft tissue infections (SSTI) and acute bacterial skin and skin structure infections who require hospital visit fuels the growth of the hospital pharmacies segment
North America to Dominate Global Neomycin Sulfate Market
- In terms of region, the global neomycin sulfate market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global neomycin sulfate market in 2019. The trend is expected to continue during the forecast period. The region’s dominance can be attributed to an increase in patients with bacterial skin infection, rise in awareness about bacterial skin infection, and new product launches.
- The market in Asia Pacific is projected to expand at a significantly high CAGR during the forecast period owing to rise in prevalence of bacterial skin infection in emerging countries such as India and China
Key Players Operating in Global Neomycin Sulfate Market
The global neomycin sulfate market was highly fragmented in 2019. Leading players operating in the global market are:
- McKesson Corporation
- Pfizer, Inc.
- Bausch & Lomb
- Perrigo Company
- Medimetriks Pharmaceutical
- Xgen Pharmaceuticals
Global Neomycin Sulfate Market: Research Scope
Global Neomycin Sulfate Market, by Product Type
Global Neomycin Sulfate Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.