LONDON, April 27, 2016 /PRNewswire/ -- Penicillin and Streptomycin are two prominent drugs used in the treatment of diseases caused due to bacteria. Penicillin refers to a group of antibiotics such as Pencilillium V, Penicillium G. Penicillin was first derived from Penicillium. Streptomycin is a bactericidal which is widely used in the treatment of Tuberculosis, along with other drugs. Streptomycin is also used to control fire blight in fruit trees. The market for Penicillin is segmented on the basis of the product type, end user, route of administration and geography.Among the product segments, formulations hold a larger market share than the bulk (Active Pharmaceutical Ingredient) manufacturing. The market for Penicillin and Streptomycin is estimated to be $XX million in 2015. It is estimated to grow at a CAGR of XX% during 2016-2021. The driving force behind the growth is rising number of infectious diseases, growing investments in research and development, innovations and government regulations. Increasing demand for generics and high incidences of anti-microbial resistance are the major factors which will drive the growth and development of new products in this market. However, stringent government regulations creating entry barriers and expiry of patents are the major challenges faced by Penicillin and Streptomycin market.
Geographically, North America holds the highest market share for Penicillin and Streptomycin market followed by Europe. The highest growth is going to be witnessed in Asia Pacific region, in countries such as India, China and Australia. The reason behind the growth is large population base improving healthcare infrastructure, rising health awareness and high disposable income.
Major players in this market are:
Johnson & Johnson (U.S),
Eli Lily (U.S),
Bristol-Myers Squibb (U.S).
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