Amoxicillin Market Report 2024: Comprehensive Growth Analysis

The Business Research Company recently released a comprehensive report on the Global Amoxicillin Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The amoxicillin market size has grown steadily in recent years. It will grow from $4.58 billion in 2023 to $4.74 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to an increased understanding of antibiotics, a higher pace of research activities and developments, increased cases of cardiovascular diseases, increased demand for amoxicillin in the treatment of urinary tract infections, rise in the aging population.

The amoxicillin market size is expected to see steady growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to growing impaired renal function, prevalence of lower respiratory infections, increasing skin infections, growing cases of lower respiratory tract infections, and rising prevalence of bacterial infections. Major trends in the forecast period include demand for generic amoxicillin, focus on combination therapies, interest in probiotics and immunotherapy, demand for antibiotics, and advanced healthcare facilities.

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Market Drivers and Trends:

The increasing prevalence of infectious diseases is expected to propel the growth of the amoxicillin market going forward. Infectious diseases are illnesses caused by pathogenic microorganisms such as bacteria, viruses, fungi, or parasites. Cases of infectious diseases are rising due to factors such as global travel, antimicrobial resistance, climate change affecting disease vectors, and population density. Amoxicillin helps treat infectious diseases by targeting bacterial cell wall synthesis, leading to bacterial cell death. Its broad-spectrum activity, rapid absorption, and ability to work synergistically with other antibiotics make it a versatile and effective treatment for various bacterial infections. For instance, in January 2023, according to the National Institute of Health, a US-based public health research agency, urinary tract infections ranked seventh among the leading reasons for emergency department visits in the US, accounting for over 1 million visits annually. Of these, 22% (220,000) were classified as complicated UTIs, with approximately 100,000 cases resulting in hospital admissions each year. Therefore, the increasing prevalence of infectious diseases is driving the growth of the amoxicillin market.

Rising Healthcare Expenditure Drives Growth In Amoxicillin Market

The increase in healthcare expenditure is expected to propel the growth of the amoxicillin market going forward. Healthcare expenditure refers to the total amount of money spent on healthcare goods and services, including medical treatments, medications, hospitalizations, and preventive care, within a specified period, reflecting the overall cost of healthcare provision within a population. Healthcare expenditures are rising due to the increasing cost of advanced medical technologies, aging populations, and the prevalence of chronic diseases. Healthcare expenditures can benefit amoxicillin by ensuring wider accessibility and availability, which leads to higher prescription rates and improved patient outcomes. Enhanced funding also supports research and development, potentially leading to better formulations and broader usage of the antibiotic. For instance, in January 2024, according to the National Institutes of Health, a US-based government agency, healthcare expenditure in the US rose by 4.1% in 2022 to reach $4.5 trillion, representing a faster growth rate compared to the 3.2% increase observed in 2021. Therefore, the increase in healthcare expenditure is driving the growth of the amoxicillin market.

Major companies operating in the amoxicillin market are developing innovative drugs, such as reformulated versions of vonoprazan tablets, to enhance the treatment of Helicobacter pylori infections and improve patient outcomes. Vonoprazan is a novel potassium-competitive acid blocker (PCAB), which is a new class of acid suppressant medication that is reformulated. For instance, in May 2022, Phathom Pharmaceuticals, a US-based pharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval of VOQUEZNA TRIPLE PAK (vonoprazan, amoxicillin, clarithromycin) and VOQUEZNA DUAL PAK (vonoprazan, amoxicillin) for the treatment of Helicobacter pylori (H. pylori) infection in adults. These treatment regimens contain antibiotics conveniently packaged with vonoprazan, a novel potassium-competitive acid blocker (PCAB) and the first innovative acid suppressant from a new drug class approved in the U.S. in over 30 years.

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Major Key Players of the Market:

Pfizer Inc., Sanofi S.A., AstraZeneca Plc, Novartis AG, GlaxoSmithKline Plc, Merck KGaA, Teva Pharmaceutical Industries Ltd., Alkem Laboratories Ltd., Sun Pharmaceutical Industries Ltd., CSPC Pharmaceutical Group Limited, Torrent Pharmaceuticals GmbH, Aurobindo Pharma Limited, Hikma Pharmaceuticals PLC, Intas Pharmaceuticals Ltd., Lupin Limited, Daewoong Pharmaceutical Co. Ltd., Centrient Pharmaceuticals, Wockhardt Limited, Ranbaxy Laboratories Ltd., Atman Pharmaceuticals, Sinopharm Weiqida Pharmaceutical Co. Ltd., Cipla Inc., Zydus Cadila

Amoxicillin Market 2024 Key Insights:

• The amoxicillin market size is expected to see steady growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%.
• Rising Infectious Disease Prevalence Fuels Growth In Amoxicillin Market
• Innovative Treatment Approaches In The Amoxicillin Market
• North America was the largest region in the amoxicillin market in 2023

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