Antibiotics Market To Gain Demand Quickly Due To Rising Prevalence Of Infectious Diseases Till 2024: Grand View Research, Inc.
The antibiotics market is expected to reach USD 57.0 billion by 2024, according to the new report by Grand View Research, Inc. Rising prevalence of infectious diseases especially in developing regions such as Asia Pacific and MEA is anticipated to contribute towards market growth. More than 15.0% of the deaths, in children below the age of five, are estimated to be due to pneumonia and according to the statistics provided by the WHO about 9.2 million deaths were recorded in 2015. Similar to tuberculosis, the highest prevalence of the disease is identified to be in the South Asian and Sub-Saharan regions. Currently, the required antibiotic treatment is available only to one third of the infected population, thereby increasing the disease burden. Government reforms specific to antibiotics such as the Generating Antibiotics Incentives Now (GAIN) Act in the U.S. are projected to help market growth over the forecast period. This further expected facilitate development o...