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Cephalosporin Drugs Market Size
Cephalosporin Drugs Market size was valued at USD 14.1 billion in 2023 and is estimated to grow at a CAGR of 3.1% between 2024 and 2032. High market growth can be attributed to several factors such as increasing growing number of generic medications, rising geriatric population, advancements in drug discovery services, and incidence of bacterial infections.
For instance, according to a report by the Lancet, in 2019, more than 6 million deaths occurred as a result of three bacterial infectious syndromes, with lower respiratory infections and bloodstream infections each causing more than 2 million. Thus, the high prevalence of these infections, contributes to the increased demand for effective antibiotics such as cephalosporins, thereby escalating the growth of the market.
Cephalosporins are a class of spectrum beta-lactam antibiotics used to treat various infections. They are derived from the fungus Acremonium (formerly known as Cephalosporium) and are structurally related to penicillin. These antibiotics are effective against a wide range of bacteria, both gram-positive and gram-negative.
What is the size of cephalosporin drugs market?
The global cephalosporin drugs industry was valued at USD 14.1 billion in 2023 and is estimated to grow at a CAGR of 3.1% between 2024 and 2032, attributed to growing number of generic medications, rising geriatric population, and advancements in drug discovery services.
Why is use of parenteral route for cephalosporin drugs industry growing?
The parenteral segment is expected to reach a notable market revenue of USD 11.3 billion by 2032, owing to the rapid and direct delivery of the drug into the bloodstream.
How big is North America cephalosporin drugs industry?
In 2023, North America held a significant share of 42.2% in the cephalosporin drugs market, backed by substantial investments in pharmaceuticals, including the purchase and use of cephalosporin drugs.
Who are the major players involved in cephalosporin drugs industry?
AbbVie Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Mylan N.V., Novartis AG, Pfizer Inc., Sanofi, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.