Market for Penicillin and Combination Drugs Segment to Grow at Highest CAGR during 2020-2027.
The market is expected to reach US$ 11,614.32 million by 2027 from US$ 9,106.40 million in 2019; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027.
The growth of the market is attributed to the growing prevalence of urinary tract infections, aging population, and emerging computing technologies for urine diagnostics. However, the lack of product awareness in emerging countries and effects associated with medication obstruct the growth of the market to a certain extent.
Based on drug class, the quinolones segment held the largest share of the market in 2019; however, the penicillin and combination segment is anticipated to register the highest CAGR of 4.5% in the market during the forecast period. The future growth of the market for quinolones is mainly ascribed to the fact that it is most commonly prescribed by physicians. Ciprofloxacin, levofloxacin, and enoxacin are among the