The Canada Antibiotics Drug market size stood at around USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.
In Canada, the demand for Antibiotics has grown at a fast pace in the past decade, and in the next decade, both production and demand will continue to grow. An increase in antibiotic resistance infections due to misuse or overuse of antibiotics is expected to shift the prescription patterns to novel therapies to treat bacterial infection. Healthcare providers recommend an antibiotic prescription most often for common illnesses, such as respiratory and urinary tract infections in adults or for ear infections in children. In 2017 alone, Canadians filled over 24 million antibiotic prescriptions, primarily in community pharmacies.
The rising prevalence of infectious diseases and supportive government legislation are the major drivers of the market. The increased efforts of pharmaceutical companies for the development of novel therapies and the launch of new antibiotics to treat infectious diseases are expected to drive the market over the forecast period. Increasing disease burden is compelling government and non-government bodies to invest in R&D initiatives and boost the development of novel antibiotics and supportive regulatory policies to expedite the approval process and research funding. Pharmaceutical companies are collaborating for the development of new therapies to reduce the cost burden of the drug development process. An increasing number of public-private collaborations, wherein funding and innovative R&D approaches are provided by public agencies to firms developing antibiotics, is expected to boost the product pipeline.