Topical Antibiotics Market
Topical Antibiotics Market (Drug Class: Tetracycline, Aminoglycosides, Erythromycin, Clindamycin, and Others; Dosage Form: Ointments, Creams, Powder, Gels, and Others; Indication: Skin Infection, Eye Infection, Bromhidrosis, and Others; Product Type: Prescription and OTC; and Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Growing Prevalence of Skin Infections Worldwide to Aid Market Growth
Topical antibiotics have emerged as a popular drug class for the treatment and management of a range of medical conditions. Among different indications such as the skin, eye, and Bromhidrosis, the use of topical antibiotics to fight bacterial skin infection has witnessed consistent growth over the past few decades– a trend that is expected to continue over the upcoming years. Research and development activities around the world are likely to fuel the growth of the global topical antibiotics market, as new topical antibiotics continue to enter the market. While the growing popularity of antiseptics could potentially hinder market growth, the growing awareness pertaining to the benefits of topical antibiotics is anticipated to boost the demand.
At present, drug developers and other stakeholders involved in the global topical antibiotics market are increasingly focusing on addressing various issues related to the use of topical antibiotics, including increasing rate of bacterial resistance and local hypersensitivity. In the current scenario, topical antibiotics are one of the most prescribed antimicrobial agents worldwide. Europe and North America are projected to provide lucrative opportunities to the market players involved in the topical antibiotics market landscape due to a robust healthcare infrastructure in these regions, growing investments for drug development and research, etc.
These factors, along with the growing emphasis on identifying more indications for which topical antibiotics are likely to be effective are expected to propel the growth of the market for the topical antibiotics market during the assessment period. The global topical antibiotics market is anticipated to attain a market value of US$ 8.3 Bn by the end of 2030.
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Drug Developers Focus on Increasing Efficacy of Topical Antibiotics
Over the past few decades, the demand for topical antibiotics has witnessed considerable growth at a consistent rate. However, despite the impressive growth rate in terms of adoption, market players are increasingly focusing on addressing the various challenges involved in the use of topical antibiotics. Research and development activities across the topical antibiotics market landscape are projected to primarily focus on improving the clinical efficacy of these drugs. In addition, the entry of new and emerging agents, including ebselen and retapamulin will provide an immense boost to the overall prospects of the global topical antibiotics market during the assessment period. Despite the growing use of topical antibiotics, there is a growing need to address the increasing bacterial resistance among patients in a few settings due to which, the efficacy of these drugs is compromised. In addition, the ecological impact of topical antibiotics is another area of concern due to which, research activities have gained momentum.
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The clinical usage of topical antibiotics, particularly in developed regions of the world is projected to grow at a commendable pace in the upcoming years. However, the Asia Pacific region is expected to provide abundant opportunities for market players during the latter half of the forecast period.
Demand to Remain Lower than Usual amid COVID-19 Pandemic
Although skin infections continue to affect millions of individuals around the world, at present, the global healthcare sector is primarily focusing and engaged in curbing the transmission of the novel coronavirus infection. In addition, research and development activities are also aiming at the development of a vaccine. However, the production and development of topical antibiotics are likely to remain unaffected around the world, as drug manufacturers and the pharmaceutical sector are exempted from lockdown measures enforced by governments worldwide.
Although the production is expected to remain unaffected, the demand for topical antibiotics could see a decline amid the COVID-19 pandemic. Although the growth is expected to remain slower than usual, the market is expected to show signs of recovery in the last quarter of 2020.
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The global topical antibiotics market is expected to grow at a sluggish CAGR of ~3% during the forecast period. The market growth can be primarily attributed to a host of factors, including growing focus on improving the efficacy of topical antibiotics, growing investments toward research & development activities, entry of new and emerging topic antibiotics agents, and the considerable surge in the number of skin infections around the world. Market players should focus on addressing challenges put forward by topical antibiotics such as increasing bacterial resistance, catastrophic ecological impact, etc. While North America and Europe are likely to remain at the forefront in terms of market share and value, the Asia Pacific region is projected to provide a safe haven for growth to the market players in the upcoming years.
Topical Antibiotics Market: Overview
- According to the latest report published by Transparency Market Research on the global topical antibiotics market for the historical period 2018–2019 and forecast period from 2020 to 2030, high demand for topical antibiotics for the treatment of dermatological conditions is projected to be a major driver for the global topical antibiotics market during the forecast period
- The global topical antibiotics market was valued at US$ 5.8 Bn in 2019 and is anticipated to expand at a CAGR of ~3% from 2020 to 2030
- The report analyzes current and future scenario of the global topical antibiotics market
- The global topical antibiotics market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global topical antibiotics market with respect to the segments based on drug class, dosage form, indication, product type, distribution channel, and region.
- A detailed qualitative analysis of drivers, restraints, and opportunities of the global topical antibiotics market has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles, along with business overview to understand the competitive landscape in the global topical antibiotics market.
- This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global topical antibiotics market
Topical Antibiotics Market: Key Drivers & Restraints
- Increase in Adoption of Topical Antibiotics to Prevent Surgical Site Infections (SSI)
- Surgical site infection (SSI) is one of the most common complications and a leading cause of hospital acquired infections across the globe. The incidence and prevalence rates are higher in low and middle-income countries.
- Surgical site infection in spine surgery is one of the most common complications after surgery. Over 40,000 patients in the U.S. report surgical site infection after spine surgery.
- Several studies have demonstrated that the use of topical antibiotics have significantly reduced the risk of developing surgical site infection. Topical antibiotics provide several advantages over other preventive measures such as use of oral antibiotics, antiseptic, and intravenous antibiotics.
- Topical antibiotics applied at the surgical site prevent or eliminate bacterial contamination, as the concentration of topical antibiotics exceeds the minimum inhibitory concentration (MIC). Moreover, topical antibiotics are used to reduce bacterial resistance at surgical site.
- Topical antibiotics are also applied at specific surgical sites. Hence, these reduce the unwanted side effects associated with oral and intravenous antibiotics.
- Therefore, advantages of topical antibiotics in preventing surgical site infection is likely to fuel the growth of the global market during the forecast period
- Antimicrobial Resistance to Topical Antibiotics
- Antimicrobial resistance to a number of topical antibiotics by a large number of infectious pathogens is one of the key restraints of the market
- Antimicrobial resistance is considered one of the most significant issues in healthcare, and stringent guidelines have been issued by the World Health Organization and respective governing authorities to control the usage of antibiotics and prevent antimicrobial resistance
- Several factors contribute to the inappropriate usage of topical antibiotics, which leads to the development of antimicrobial resistance
Topical Antibiotics Market: Key Segments
- In terms of drug class, the global topical antibiotics market has been classified into tetracycline, aminoglycosides, erythromycin, clindamycin, and others
- Based on dosage form, the global topical antibiotics market has been categorized into ointments, creams, powder, gels, and others
- In terms of indication, the global topical antibiotics market has been divided into skin infection, eye infection, bromhidrosis, and others
- Based on product type, the global topical antibiotics market has been bifurcated into prescription and OTC
- In terms of distribution channel, the global topical antibiotics market has been segregated into hospital pharmacies, retail pharmacies, and others
- The market size and forecast for each of the segments have been provided in terms of US$ Mn from 2018 to 2030, along with their respective CAGRs for the forecast period from 2020 to 2030, considering 2018 as the base year
Topical Antibiotics Market: Regional Outlook
- The global topical antibiotics market has been segmented into five major regions: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of the Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa)
- The market size and forecast for each of these regions and the mentioned countries/sub-regions have been provided for the period from 2018 to 2030, along with their respective CAGRs for the forecast period from 2020 to 2030, considering 2018 as the base year. The research study also covers the competitive scenario in these regions.
Companies Mentioned in Report
- The report profiles the following major players in the global topical antibiotics market based on various attributes such as company overview, financial overview, product types, business strategies, and recent developments. Major companies include
- Novartis AG
- GlaxoSmithKline plc
- Perrigo Company plc
- Pfizer, Inc
- Almirall, S.A.
- Bausch Health Companies, Inc. (Valeant Pharmaceuticals International, Inc.)
- Medimetriks Pharmaceuticals, Inc.
- Taro Pharmaceutical Industries Ltd.
- Mayne Pharma Group Limited.
Topical Antibiotics Market – Scope of the Report
TMR’s report on the global topical antibiotics market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the revenue of the global topical antibiotics market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) for the global topical antibiotics market for the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involves bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ literature, annual reports, press releases, and relevant documents to understand the global topical antibiotics market. Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have also employed a combination of top-down and bottom-up approaches to study various phenomena in the global topical antibiotics market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Additionally, the report sheds light on the changing competitive dynamics in the global topical antibiotics market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global topical antibiotics market. The next section of the global topical antibiotics market report highlights the USPs, which include drivers & restraints impact analysis, value chain analysis, key mergers & acquisitions, regulatory scenario, disease prevalence, and incidence rate of top players operating in the market for topical antibiotics and qualitative analysis of topical antibiotics.
The report analyzes the global topical antibiotics market based on drug class, dosage form, indication, product type, distribution channel, and region. Key segments under each criteria have been studied at length and the market share for each of these at the end of 2027 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global topical antibiotics market.
Key Questions Answered in Topical Antibiotics Market Report
- What will be the sales/revenue generated by different topical antibiotics drug classes across all regions during the forecast period?
- What are the major drivers, restraints, and opportunities in the global topical antibiotics market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which segment will have the highest revenue globally in 2027 and which drug class segment will expand at the fastest CAGR during the forecast period?
Topical Antibiotics Market – Research Objectives and Research Approach
The comprehensive report on the global topical antibiotics market begins with an overview of the market, followed by scope and objectives of the study. The report provides detailed explanation of the objectives of the study and health care compliances laid down by accredited agencies in the purview of research in the global topical antibiotics market. It is followed by market introduction, market dynamics, and an overview of the global topical antibiotics market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the global market. Moreover, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the global topical antibiotics market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The revenue generated by key topical antibiotics agent manufacturers has been mapped to ascertain the size of the global topical antibiotics market in terms of revenue. The forecast presented here assesses the total revenue generated by topical antibiotics. The report also delves into the competition landscape of the global topical antibiotics market. Key players operating in the global topical antibiotics market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standing, recent developments, and SWOT are some of the attributes of players profiled in the global topical antibiotics treatment market report.
Topical Antibiotics Market – Segmentation