Global Penicillin and Streptomycin Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Penicillin and streptomycin are the antibiotics that are used to avert bacterial contamination of cell cultures due to their active mutual action against gram-negative and gram-positive bacteria. Penicillin is derived from the fungi “Penicillium” and streptomycin from “Streptomyces griseus”. Penicillin-streptomycin solution is exclusively used as a supplement in several types of media like α-MEM (minimum essential medium) growth medium, Dulbecco’s modified eagle′s medium, and RGC (retinal ganglion cells) culture.
The factors that are playing a major role in the growth of market are rising innovations and government guidelines, growing several infectious diseases, high demand for generics, and increasing investments in research & development. However, the expiry of patents and strict government policy may restrain overall market growth in the years to come. Penicillin and streptomycin market is segmented based on product type, manufacturing process, route of administration, end-user, and region.
Dosage and bulk are the product types that could be explored in penicillin and streptomycin in the forecast period. The semi-synthetic process, synthetic process, and natural process are the manufacturing processes that could be explored in penicillin and streptomycin in the forecast period. Based on the route of administration, intravenous, oral, intramuscular route of administration could classify penicillin and streptomycin in the forecast period. The market could be categorized based on end-users like clinics, hospitals, pharmaceuticals, ambulatory surgical centers, and others that could be explored in the forecast period.
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Globally, North America accounted for the substantial market share of penicillin and streptomycin and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of developed healthcare infrastructure, favorable government policy, developed research and development sector with the latest technology, growing usage of penicillin and streptomycin in cell cultures, and the presence of key manufacturers in this region. The United States and Canada are the major consumers of penicillin and streptomycin in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise
The key players of penicillin and streptomycin market are Takeda Pharmaceutical Company, Abbot Laboratories, Eli Lilly and Co, Bristol Myers Squibb Co., Astra Zeneca, Pfizer, Merck & Co., Inc., Amgen, Celgine Corporation, Roche Pharmaceuticals, Biogen Idec, GlaxoSmithKline Plc, and MiddleBrook Pharmaceuticals. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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