By Indication Type – Segment Analysis
In 2019, Skin Infection segment dominated the Levofloxacin market in terms of revenue. The segment is estimated to grow at a CAGR of 2.8%. Levofloxacin is mostly used in skin infections as it is indicated for the treatment of complicated skin and skin structure infections due to methicillin-susceptible Staphylococcus aureus, Enterococcus faecalis, Streptococcus pyogenes, or Proteus mirabilis and others. Skin infections include abscesses, cellulitis, furuncles, impetigo, pyoderma, wound infections and others.
By Sales Channel Type – Segment Analysis
In 2019, Hospital Pharmacy segment dominated the Levofloxacin market in terms of revenue. As hospital pharmacies holds stock at a larger range of medications, including more specialized and investigational medications. It contains all the forms of dosage and guides in proper usage of levofloxacin.
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Geography – Segment Analysis
Based on the geography the Levofloxacin market is covered globally viz North America, South America, Europe, Asia Pacific (APAC) and Rest of World (ROW). Market in North America accounts for major share of 44% in terms of revenue and is projected to maintain its position over the forecast period 2020-2025. Rising number of government initiatives with an objective of improving awareness about diagnosis. Asia Pacific market in estimated to register highest CAGR in terms of revenue over the forecast period 2020-2025, owing to the major expansion in manufacturing pharmacies.
Market Drivers – Levofloxacin Market
- Growing Incidences of Bacterial Infections
The growth of bacteria inside the body is affecting organs with body like infections related to sinuses, skin, lungs, ears, airways, bones, and others. The growth of urinary infection is increasing which is leading the growth of the market.
Challenges – Levofloxacin Market
- Side Effects
Levofloxacin causes side effects like tendon problems, nerve damage, serious mood or behavior changes, or low blood sugar, numbness, weakness, tingling, burning pain, muscle weakness, breathing problem and others that may be serious or even cause death which could restrain the growth of the market.
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Levofloxacin industry outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Levofloxacin Industry. In 2019, Levofloxacin market share is consolidated by the top ten players present in the market. Levofloxacin top 10 companies include Aden Healthcare, Allenge India Pharma, Alna Biotech Private Limited, Bestochem, Divine Savior Healthcare, Dr Reddys Laboratory Ltd, Glenmark Pharmaceutical, Lupin Pharmaceuticals, Inc, Pax Healthcare, Zydus Cadila.
- Rising government initiatives with an objective of improving awareness about diagnosis and treatment of pneumonia and similar infections is expected to aid growth of the market.
- Rising number of hospitals and retail pharmacies are set to aid the growth of levofloxacin market.
- APAC region is estimated to record the fastest growth rate during the forecast period 2020-2025.
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