Market Size of Global Levofloxacin Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Levofloxacin Market Analysis
Over the next few years, the levofloxacin market is expected to register a CAGR of 5.1%.
The COVID-19 pandemic significantly impacted healthcare systems, with significant consequences for the global population. Due to the cancellation of treatment to manage and reserve resources, healthcare services were controlled. Many hospitals experienced a shortage of professionals to assist with the burden of the pandemic and associated diseases. Thus, the demand for levofloxacin initially decreased due to a decrease in hospital visits.
However, during the later phases of the pandemic, there was a huge demand for antibiotics, which considerably impacted the studied market growth. For instance, according to an article published in the BioMed Central (BMC) journal in May 2021, levofloxacin was among the most commonly used antibiotics for the clinical management of COVID-19, along with other antibiotics. Hence, it is observed that with the use of levofloxacin in COVID management, the market witnessed slight growth during the pandemic. Thus, the pandemic had an effect on the growth of the market, and it is expected that the market will continue to grow over the study period.
During the forecast period, the market is expected to grow because of things like the growing burden of nosocomial and community-acquired pneumonia, the rising number of bacterial infections, and the fact that drugs are easy to get and not too expensive.
In addition, the increasing prevalence of bacterial diseases is one of the key factors responsible for the growth of the market studied. For instance, according to the October 2021 update of the WHO, most tuberculosis (TB) cases were found in the regions of South-East Asia (43%), Africa (25%), and the Western Pacific (18%), and lesser numbers of TB cases were found in the Eastern Mediterranean (8.3%), the Americas (3.0%), and Europe (2.3%). The statistics show that the TB burden is high across all regions, which is expected to drive market growth because Levofloxacin is widely used in the treatment of TB. This is predicted to contribute to the market's growth over the forecast period.
But one of the biggest things slowing market growth around the world is that most people don't know much about infectious diseases.
