Market Size of Peptide Antibiotics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
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?
Peptide Antibiotics Market Analysis
The Peptide Antibiotics Market is anticipated to witness steady growth of 5.1% CAGR over the forecast period.
The COVID-19 pandemic had a substantial impact on the peptide antibiotics market initially. The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in a decrease in the number of patient visits and subsequently hampering the number of prescriptions for peptide antibiotics. Various fungal and bacterial infections remained undiagnosed and untreated due to the strict lockdown. During this period outpatient clinics were closed or operating with limited appointments which resulted in a reduction of in-person visits. The number of antibiotic prescriptions was hampered due to the result of the decline in patient visits. According to a research study published in the Infectious Diseases Society of America in October 2021, the total number of outpatient antibiotic prescriptions decreased by 37.1% during March-December 2020 as compared to the prescriptions provided during March-December 2019.
Moreover, the significant increase in the number of patients suffering from antimicrobial resistance significantly hampered the market growth during the COVID-19 period. According to the report published by the Centers for Disease Control and Prevention, more than 29,400 people died from antimicrobial-resistant infections during the first year of the pandemic (2020). Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market is expected to gain traction due to the significant increase in the use of telehealth and telemedicine globally.
Further, the increase in the number of product approvals, surge in the number of patients suffering from various infectious diseases and growing adoption of peptide antibiotics in healthcare settings are among the major factors driving the growth of the studied market. This along with the rising number of patients developing antibiotic resistance is also fueling the utilization of peptide antibiotics. According to the report published by European Centre for Disease Prevention and Control (ECDC) in January 2022, every year more than 670,000 cases of infections due to bacteria resistant to antibiotics are registered in European countries and around 33,000 people deaths occur due the antibiotic resistance.
Moreover, the surge in the prevalence of hospital-acquired infections along with the significant increase in skin and bloodstream infections are anticipated to boost the adoption of peptide antibiotics in the management of infection, thereby contributing to the studied market growth. According to the report published by World Health Organization in 2022, every year 8.9 million healthcare-acquired infections occur in acute and long-term facilities across European countries. Moreover, the side effects associated with the use of peptide antibiotics are anticipated to hamper market growth.
