PUBLISHER: Grand View Research | PRODUCT CODE: 1363011
PUBLISHER: Grand View Research | PRODUCT CODE: 1363011
The global carbapenem market size is expected to reach USD 5.24 billion by 2030, according to a new report by Grand View Research, Inc.., exhibiting a CAGR of 4.78% from 2023 to 2030. The rise in the utilization of carbapenem-based antibiotics, elevated prescription rates of antibiotics, and progress in research and development resulting in the upcoming novel medications; are a few of the factors that are anticipated to propel the growth of the market over the forecast period.
According to an American Lung Association article, published in November 2022, Pneumonia is more prevalent than commonly perceived, leading to over a million hospitalizations and causing more than 50,000 deaths annually. In May 2023, Antabio initiated its Phase I trial by administering the initial dose of antibiotic therapy to healthy volunteers for hospital-acquired infections. The therapy, known as MEM-ANT3310, combines meropenem (MEM) with Antabio's novel broad-spectrum serine beta-lactamase inhibitor, ANT3310. This is fueling the growth of the market over the forecast period.
Moreover, during the pandemic, healthcare systems worldwide faced immense challenges in managing severe cases of COVID-19, especially in ICU settings. Many critically ill COVID-19 patients required advanced medical care, including the use of antibiotics to address secondary bacterial infections. Carbapenems, being potent broad-spectrum antibiotics, were one of the treatment options considered for bacterial co-infections in these patients. Thus, there was a significant impact during the period of the COVID-19 pandemic on the market.
The regulatory framework for pharmaceuticals in North America, particularly in the United States, is well-established and provides a clear pathway for drug approvals. For instance, in August 2022, Brooks Laboratories made an announcement stating that its subsidiary, Brooks Steriscience, has obtained approval from the United States Food & Drug Administration (USFDA) for the product, Meropenem Injection, available in 500mg per vial and 1gram per vial. This product serves as the generic equivalent to Pfizer Inc.'s Merrem Injection.
However, the overuse and misuse of antibiotics, including carbapenems, contribute to the development of antimicrobial resistance (AMR). As bacteria continue to evolve and become resistant to these drugs, their effectiveness in treating infections diminishes, posing a significant challenge for carbapenems and other antibiotics.