Wilmington, Delaware, United States, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global ceftriaxone market is projected to flourish at a CAGR of 2.9% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 2.2 billion is anticipated for the market in 2031. As of 2023, the market for ceftriaxone is expected to close at US$ 1.79 billion.
The increasing prevalence of bacterial infection is the main factor anticipated to drive the demand for ceftriaxone, as ceftriaxone is an antibiotic that is effective against a wide range of bacterial pathogens making it a versatile treatment option for various types of infections.
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Competitive Landscape
The ceftriaxone market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global ceftriaxone market report:
- Hikma Pharmaceuticals plc
- Qilu Pharmaceutical Co. Ltd.
- Novartis AG
- Baxter International, Inc.
- Aurobindo Pharma
- ACS DOBFAR S.P.A.
- Orchid Pharma
- Nectar Lifesciences Ltd.
- Lupin Pharmaceuticals, Inc.
Key Developments in the Ceftriaxone Market
- Hikma Pharmaceuticals might be involved in the production and distribution of ceftriaxone, an important antibiotic used to treat various bacterial infections.The company's involvement in the antibiotics market could include both generic versions of ceftriaxone and possibly branded formulations, depending on their product offerings
- Qilu Pharmaceutical announced an exclusive license agreement with Sesen Bio for the development and commercialization of Vicineum™ in Greater China on July 31st, 2020. Vicineum™ is used for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (“NMIBC”) and other types of cancer.
- Aurobindo Pharma is involved in the production and distribution of various antibiotics, including ceftriaxone, which is commonly used to treat bacterial infections. The company's broad portfolio encompasses a range of antibiotic products in various formulations and strengths.
An increasing number of surgical as well as medical procedures require prophylactic antibiotics to prevent post-operative infections, driving the demand for ceftriaxone.
Ceftriaxone is the most common antibiotic used in the treatment of urinary tract infections, intra-abdominal infections, endocarditis, and other bacterial infections.
The increasing prevalence of chronic diseases across the globe and the increase in the incidence of urinary tract infections, acute bacterial otitis media, intra-abdominal infections, and other diseases is a key factors driving the demand for ceftriaxone injections during the forecast period.
Increasing investments in healthcare infrastructure and facilities globally and growth in preference for ceftriaxone in developing countries for the treatment of urinary tract infections contribute to expanded access to antibiotics and treatment options.
Key Takeaways from the Market Study
- As of 2022, the ceftriaxone market was valued at US$ 1.7 billion
- Based on indication, the urinary tract infections segment accounted for a significant market share in 2021. Urinary tract infections are more common in the adult population.
- Based on the distribution channel, the hospital segment is expected to generate high revenue during the forecast period, as hospitals are increasingly preferred for the treatment of bacterial infections due to the availability of favorable reimbursement policies.
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Ceftriaxone Market: Key Trends and Opportunistic Frontiers
- Increase in the incidence of urinary tract infections, a rise in awareness among people, and a surge in the geriatric population prone to bacterial diseases are likely to augment the global ceftriaxone market.
- Increasing technological advances and increased research and development efforts to improve antibiotic formulations and delivery methods enhance the overall effectiveness of ceftriaxone.
- Advancements in healthcare practices and delivery, including the use of telemedicine and remote consultations, may influence antibiotic prescriptions.
Ceftriaxone Market- Regional Analysis
- North America is expected to be a highly lucrative ceftriaxone market during the forecast period. Increasing healthcare expenditure in the region led to a strong demand for antibiotics like ceftriaxone used in hospital settings. Increasing adoption of technologically advanced products, early availability of advanced technologies, and favorable funding by governments and charitable trusts for healthcare research are projected to boost the ceftriaxone market in North America
- Asia Pacific is expected to dominate the ceftriaxone market during the forecast period. Growing healthcare infrastructure contributes to the demand for antibiotics like ceftriaxone. The presence of a large patient base in countries such as India and China drives the market demand in the region
Ceftriaxone Market
Indication
- Urinary Tract Infections
- Intra-abdominal Infections
- Endocarditis
- Acute Bacterial Otitis Media
- Meningitis
- Pneumonia
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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