Levofloxacin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Over the next few years, the levofloxacin market is expected to register a CAGR of 5.1%.

The COVID-19 pandemic significantly impacted healthcare systems, with significant consequences for the global population. Due to the cancellation of treatment to manage and reserve resources, healthcare services were controlled. Many hospitals experienced a shortage of professionals to assist with the burden of the pandemic and associated diseases. Thus, the demand for levofloxacin initially decreased due to a decrease in hospital visits.

However, during the later phases of the pandemic, there was a huge demand for antibiotics, which considerably impacted the studied market growth. For instance, according to an article published in the BioMed Central (BMC) journal in May 2021, levofloxacin was among the most commonly used antibiotics for the clinical management of COVID-19, along with other antibiotics. Hence, it is observed that with the use of levofloxacin in COVID management, the market witnessed slight growth during the pandemic. Thus, the pandemic had an effect on the growth of the market, and it is expected that the market will continue to grow over the study period.

During the forecast period, the market is expected to grow because of things like the growing burden of nosocomial and community-acquired pneumonia, the rising number of bacterial infections, and the fact that drugs are easy to get and not too expensive.

In addition, the increasing prevalence of bacterial diseases is one of the key factors responsible for the growth of the market studied. For instance, according to the October 2021 update of the WHO, most tuberculosis (TB) cases were found in the regions of South-East Asia (43%), Africa (25%), and the Western Pacific (18%), and lesser numbers of TB cases were found in the Eastern Mediterranean (8.3%), the Americas (3.0%), and Europe (2.3%). The statistics show that the TB burden is high across all regions, which is expected to drive market growth because Levofloxacin is widely used in the treatment of TB. This is predicted to contribute to the market's growth over the forecast period.

But one of the biggest things slowing market growth around the world is that most people don't know much about infectious diseases.

Levofloxacin Market Trends

Pneumonia Segment is Expected to Significant Market Share

The pneumonia segment is expected to grow significantly and hold a major share of the global levofloxacin market throughout the forecast period. The increasing incidence of pneumococcal disease is a high-impact driver. Over the years, there has been a significant upsurge in the number of community-acquired and ventilator-associated bacterial pneumonias.

The burden of pneumonia is on the rise among the global population, creating demand for levofloxacin for treatment purposes. As per an article published in the International Journal of Pediatrics in December 2021, community-acquired pneumonia is one of the major causes of hospitalizations among children worldwide, and the incidence of the disease is highest among children under 5 years. Similarly, in a study published in Frontiers in Pediatrics in February 2022, the prevalence of hypoxic pneumonia was found to be around 35.9% across the North Indian region. Hence, the high incidence and prevalence of the disease are contributing to the increased demand for antibiotic drugs such as levofloxacin across Asian countries.

In addition, according to the research paper on community-acquired pneumonia updated in November 2022 in the NLM journal, community-acquired pneumonia is a leading cause of hospitalization and mortality and incurs high healthcare costs in the United States. As diseases can range from being mild enough to be treated as an outpatient to being so serious that they need to be treated in the intensive care unit, figuring out the right level of care is important for improving outcomes, making sure early diagnosis, and giving the right treatment at the right time.

Also, as per the above-mentioned source, the estimated worldwide incidence of community-acquired pneumonia varies between 1.5 and 14 cases per 1,000 persons per year, which is affected by geography, season, and population characteristics. Additionally, according to the same source, in the United States, the annual incidence is 24.8 cases per 10,000 adults; the rates are higher with the increase in age, and the mortality rate is as high as 23% for patients admitted to the intensive care unit. Such studies show that pneumonia-related illnesses are common, which is likely to increase the number of therapeutics for pneumonia around the world and speed up the growth of this segment.

North America is Expected to Hold a significant Market Share

North America has a big share of the market that was looked at. This is because there are a lot of big market players there and more people are getting chronic and infectious diseases like pneumonia, kidney diseases, and bladder infections.Furthermore, factors such as treatment costs, technological advancements, and product launches are expected to drive regional growth. Also, different government programs that try to prevent and treat pneumonia are making a positive difference across North America.

According to the November 2022 update by the CDC, approximately 7,171 (2.2 cases per 100,000 population) new cases of TB were reported in the United States in 2020, which increased to 7,882 (2.4 cases per 100,000 population) in 2021. According to the same source, the prevalence of tuberculosis was highest among Hispanic or Latino people, who accounted for roughly 30% of all TB cases reported in the country.A high prevalence of TB is believed to result in increased demand for levofloxacin in the country, fueling overall market growth in the region.

Additionally, the burden of the geriatric population has been increasing recently in the region. For instance, according to the 2022 statistics published by UNPF, in the United States, a large proportion of the population is aged 15-64 years and is expected to account for 65% in 2022. In addition, as per the same source, 17% of the population will be 65 years of age or older by the end of 2022. Thus, the increasing geriatric population has a high risk of getting infections due to their low immunity, which increases the demand for antibiotic drugs such as levofloxacin, thereby increasing market growth.

Hence, with the abovementioned factors, the market for levofloxacin is expected to witness strong growth in the North American region, and the United States is believed to hold a significant share among other countries in North America.

Levofloxacin Market Competitor Analysis

The market for levofloxacin is consolidated and consists of global as well as local players. The consolidated environment is marked by key players extensively deploying sustainability strategies. Lupin Limited, Glenmark Pharmaceuticals, Dr. Reddy's Laboratories Ltd., and Zydus Cadila are some of the most notable companies. These companies are involved in new product development initiatives, mergers and acquisitions, and geographical expansion.

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