New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Levofloxacin Global Market Report 2023" - https://www.reportlinker.com/p06486636/?utm_source=GNW
A., Pfizer Inc., and Sun Pharmaceutical Industries Ltd.
The global levofloxacin market is expected to grow from $1.57 billion in 2022 to $1.67 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The levofloxacin market is expected to reach $2.05 billion in 2027 at a CAGR of 5.3%.
The levofloxacin market consists of sales of levofloxacin-citric acid, levofloxacin hydrochloride, and levofloxacin-d3 sodium salt.Values in this market are ’factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Levofloxacin is a fluoroquinolone-class bactericidal antibiotic that directly prevents bacterial DNA (deoxyribonucleic acid) synthesis. It works by inhibiting the growth and replication of bacteria, thereby used to treat a variety of bacterial infections.
North America was the largest region in the levofloxacin market in 2023.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in levofloxacin report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of levofloxacin are 250 mg tablets, 500 mg tablets, and 750 mg tablets. 250 mg tablets refer to levofloxacin tablets with a dosage strength of 250 mg used to treat bacterial infections in the body. They are distributed through various channels, such as hospital pharmacies, retail pharmacies, and online pharmacies, to be used in applications including pneumonia, skin infections, kidney infections, bladder infections, and others.
The rising number of bacterial infections is expected to propel the growth of the levofloxacin market going forward.Bacterial infection refers to a disease caused by bacteria, which are single-celled, microscopic organisms that enter the body.
Levofloxacin alleviates bacterial infections such as strep throat, tuberculosis (TB), whooping cough (pertussis), and associated symptoms by inhibiting DNA topoisomerases, thereby DNA synthesis. For instance, in October 2022, according to the Global Tuberculosis Report 2022, published by the World Health Organization, a Switzerland-based global health agency, the global incidence of tuberculosis (TB) was estimated at 10.6 million cases, with a rate of 134 cases per 100,000 population in 2021, an increase of 4.5% from 10.1 million in 2020. Therefore, the rising number of bacterial infections is driving the growth of the levofloxacin market.
Advanced and targeted therapies have emerged as a key trend gaining popularity in the levofloxacin market.Major companies involved in the levofloxacin market are focused on innovating new products to improve their observation power and sustain their position in the market.
For instance, in February 2022, Santen Pharmaceutical, a Japan-based pharmaceutical and medical device company, launched Ducressa, a fixed-dose combination (FDC) of levofloxacin and dexamethasone eye drops designed for the prevention and treatment of inflammation and infection associated with cataract surgery in adults. This new prophylactic treatment combines the efficacy of levofloxacin, a broad-spectrum antibiotic that reduces antibiotic exposure by 50%, aligning with global efforts to combat antibiotic resistance.
In July 2022, Innoviva Inc., a US-based biopharmaceutical company, acquired Entasis Therapeutics Holdings Inc. for $42.4 million. With this acquisition, Innoviva aims to build an attractive portfolio of potentially first-in-class medications for treating multidrug-resistant gram-negative bacteria, including the main asset SUL-DUR. Entasis Therapeutics Holdings Inc. is a US-based clinical-stage biopharmaceutical company specializing in antibacterial and antibiotic medicines operating in the levofloxacin market.
The countries covered in the levofloxacin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The levofloxacin research report is one of a series of new reports that provides levofloxacin market statistics, including the levofloxacin industry’s global market size, regional shares, competitors with a levofloxacin market share, detailed levofloxacin market segments, market trends and opportunities, and any further data you may need to thrive in the levofloxacin industry. This levofloxacin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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