Covid-19 Impact on Penicillin Market Pegged for Robust Expansion by 2026

Stratview Research has recently added a new report titled ‘Penicillin Market’ to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Penicillin Market.

Market Highlights

The Penicillin Market is expected to grow from USD xx billion in 2020 to USD xx billion by 2026 at a CAGR of over x% during the forecast period.

What is Penicillin?

Penicillin is an antibiotic derived from the fungal mold Penicillium notatum. It is used to treat infection from various bacteria including streptococcus pneumonia, Neisseria gonorrhoea, clostridium, listeria, peptococcus, and peptostreptococcus.

Market Dynamics

The growth of the penicillin market is primarily driven by an increasing number of people suffering from infectious diseases such as pneumonia, syphilis, and gonorrhea.

• Growing emphasis on organizing awareness campaigns by both private companies and the government to control bacterial infectious diseases is likely to add to the market growth substantially.
• An adverse side effect associated with consuming antibiotics such as allergic reactions, hypersensitivity reactions, anaphylaxis, and rashes among others is likely to hamper the market growth during the review period.

The key players covered in this report are –

• Pfizer, Inc (The U.S),
• Sanofi S.A. (France),
• Toyama Chemical Co., Ltd. (Japan),
• Novartis International AG (Switzerland),
• GlaxoSmithKline plc (UK),
• Merck & Co., Inc. (The U.S),
• Astellas Pharma Inc. (Japan),
• Johnson & Johnson (The U.S),
• Bayer AG (Germany),
• Abbott Laboratories (The U.S), and
• F. Hoffmann-La Roche AG (Switzerland).

Segment-wise analysis

Based on distribution channels, the penicillin market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies.

• The hospital pharmacies segment accounted for the largest market share in 2020 as most of consumers prefer to buy medicines from the pharmacies available in hospitals.
• The online pharmacies segment is expected to register a healthy growth rate during the review period.

Geographically, the market in North America accounted for the largest market share in 2020 owing to the increasing prevalence of urinary tract infections and sexually transmitted diseases among consumers. Additionally, increased spending on R&D activities to develop advanced solutions is likely to propel market growth at a significant rate in the region.

The main steps in the investigation process are:

-        Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.

-        The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.

-        This report also provides market intelligence and throws light on critical insights into the market dynamics.

The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.

About Stratview Research

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