The market's growth is attributed to factors such as the rising prevalence of bacterial infections and increasing private and public partnerships of leading pharmaceutical players. However, the tedious and expensive process of developing antibiotics is expected to restrain the market's growth during the forecast period.
Generic versions are popular due to their availability and affordability. In addition, the expiry of patented carbapenem-based antibiotics has widen-up opportunities for generic drug manufacturers to enter the market with their cost-efficient drugs. The main focus of generic drug producers is to increase the reach of these drugs. Moreover, the shortage of antibiotics to treat bacterial infections is also one of the prime factors driving the market. The increased production of generic carbapenem-based antibiotics has increased drug availability in various low- and middle-income countries.
Generic versions of carbapenem drugs available in the market are ertapenem (Invanz), imipenem/cilastatin (Primaxin IM), doripenem (Doribax), and meropenem (Merrem). In addition, the growing number of generic players in the market is accelerating the production of generic drugs. Many Asian companies are engaged in developing active pharmaceutical ingredients (API), which are required to produce generic carbapenem-based antibiotics. In June 2021, JW Pharmaceutical, a South Korean company, announced it had completed production of its API for Ertapenem injection and shipped it to the US. The company plans to enter the global carbapenem antibiotic market in the coming years. It has also succeeded in developing its technology independently in Korea to produce Doripenem. Furthermore, the company plans to expand the sales of both API and finished drugs of Imipenem and Meropenem by exporting them to over 40 countries, including China and Japan. Therefore, accelerated generic drug production by the companies is driving the global carbapenem-based antibiotics market.
ASIA PACIFIC CARBAPENEM-BASED ANTIBIOTICS MARKET SEGMENTATION
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,072.76 Million |
| Market Size by 2028 | US$ 1,506.07 Million |
| CAGR (2021 - 2028) | 5.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Carbapenem-Based Antibiotics Market is valued at US$ 1,072.76 Million in 2021, it is projected to reach US$ 1,506.07 Million by 2028.
As per our report Asia Pacific Carbapenem-Based Antibiotics Market, the market size is valued at US$ 1,072.76 Million in 2021, projecting it to reach US$ 1,506.07 Million by 2028. This translates to a CAGR of approximately 5.0% during the forecast period.
The Asia Pacific Carbapenem-Based Antibiotics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Carbapenem-Based Antibiotics Market report:
The Asia Pacific Carbapenem-Based Antibiotics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Carbapenem-Based Antibiotics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Carbapenem-Based Antibiotics Market value chain can benefit from the information contained in a comprehensive market report.
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