The global antibiotic market, valued at $39.6 billion in 2013, is expected to reach $41.2 billion by 2018, according to a recently released report.
In the United States, the antibiotics market will increase from $15.8 billion in 2013 to $16.4 billion in 2018, a projected compound annual growth rate of 0.7 percent. The North American market was the largest in the world last year.
The report attributes the growth of the overall antibiotics market to the aging population and the increased prevalence of hospital-acquired infections. "However, the economic slowdown and the patient expiry of major antibiotics during the forecast period will limit the growth of the market," according to the report.
There has been an increased focus on antimicrobial stewardship in the U.S., as antibiotic resistant germs are on the rise — in fact, the Centers for Disease Control and Prevention developed a federal initiative aimed at reducing the growing threat of antibiotic resistance. The initiative proposes closer collaboration with provider organizations to improve antimicrobial stewardship to help reduce antibiotic resistance.
"In order to keep abreast of this change, antibiotic manufacturers are using various novel technologies to reduce antibiotic resistance in order to yield novel antibiotics," according to the report.
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