Erythromycin Market To Be Worth UЅD $8,194.9 Мn By 2030: MarketResearch.Biz

Overview:

Erythromycin is an antibiotic used for the treatment of numerous bacterial infections, including, skin infections, respiratory tract infections, syphilis, pelvic inflammatory disease, chlamydia, etc.

The Global Erythromycin Market was valued at UЅD $15,030.8 Мn in 2020, and is projected to achieve a valuation of UЅD $8,194.9 Мn by 2030, at a САGR of 5.5%. The 5-year (2021–2026) cumulative revenue of this market is projected to be over $6,641.8 Mn, and is estimated to increase significantly over the latter part of the forecast period.

Dynamics:

The increasing prevalence of contagious bacterial infections, especially in warmer, tropical regions, is leading to the greater demand for effective antibiotics, thereby boosting opportunities for market growth of this global industry in the foreseeable future. Moreover, the listing of erythromycin by the WHO as a generic, essential form of medication, has resulted in this product becoming more inexpensive. This is also a factor that is slated to fuel the revenue growth of the global erythromycin market in the years to come.

In light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global erythromycin market is no different, and this factor initially did have a negative impact on the revenue growth of this industry. However, as erythromycin can be used to treat specific symptoms of the coronavirus, the demand for this product has exponentially risen in recent months. This is a factor that is expected to have a profound impact on the revenue growth of the global erythromycin market in the near future.

Nonetheless, the increasing capability of erythromycin as an effective form of treatment and prevention for a wide range of infections such as skin infections, STDs, eye infections, etc. Owing to this major benefit, the demand for these products is expected to increase exponentially over the forecast period, boosting the revenue growth of this global market in the process.

Segmentation of the Global Erythromycin Market is as follows:

In terms of product type, the azithromycin segment accounted for the maximum number of revenue shares of the global erythromycin market in 2020, and is expected to index the highest CAGR over the forecast period. The erythromycin thiocyanate segment is also anticipated to index a high CAGR over the next 10 years.

With regards to end-use, the human medication segment accounted for the highest number of revenue shares of the global erythromycin market in 2020, and is anticipated to continue doing so over the next decade. The veterinary medication segment is also indicative of registering a high CAGR over the forecast period.

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Segmentation of the Global Erythromycin Market:

Segmentation by Product Type:

Erythromycin Thiocyanate
Azithromycin
Clarithromycin
Roxithromycin
Others

Segmentation by End-Use:

Human Medication
Veterinary Medication

Segmentation by Regions:

North America
Europe
APAC
Latin America
MEA

Key Players: 

Pfizer Inc.
AbbVie Inc.
Abbott Laboratories
Ercros S.A.
Genesis Pharmaceutical Inc. (Pierre Fabre Dermo-Cosmetique The US, Inc.)
Akorn Inc.
Alembic Pharmaceuticals Ltd.
Ani Pharmaceuticals Inc.
Ningxia Qiyuan Pharmaceutical Co. Ltd.
Teligent Inc.
Anuh Pharma Limited

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global erythromycin market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia Pacific region are anticipated to register the highest CAGR over the course of the forecast period.