Press release
The global animal antibiotics and antimicrobials market is likely to boost due to the growing animal population, rising need for animal-derived food products, and increasing healthcare spending
The global animal antibiotics and antimicrobials market size was valued at USD 4.3 billion in 2019 and projected to reach USD 5.80 billion by 2027, growing at a CAGR of 3.4% during the forecast period, 2020-2027. It is due to the surge in demand for animal antibiotics and antimicrobials to treat bacterial diseases. Further, the increasing inclination towards pet adoption and growing needs for animal healthcare in the developing world will augment the growth of the global animal antibiotics and antimicrobials industry in the forecast periods. Additionally, the increase in animal companionship and spike in demand for animal protein products is expected to foster global market growth. The rapidly expanding animal healthcare spending and the growing adoption of pet insurance will bolster global animal antibiotics and antimicrobials market share in the coming years. Moreover, the upsurge in demand for animal-derived food products, growing consumption of dairy products, and growing end-use industries such animal meat industry will stimulate the market share. Furthermore, the growing livestock population, increasing incidences of zoonotic diseases, and rising initiatives concerning animal health & welfare will accelerate the growth of the global animal antibiotics and antimicrobials industry.Request free sample report of this research report: www.shingetsuresearch.com/sample-enquiry-form/
Type of Product Overview in the Global Animal Antibiotics and Antimicrobials Market
The global animal antibiotics and antimicrobials market segregated into tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, lincosamides, fluoroquinolones, cephalosporins, and other antimicrobials and antibiotics. The tetracyclines segment is estimated to witness the highest growth over the analysis timeframe due to the high adoption of tetracyclines in dogs and cats to treat susceptible bacterial infections. In addition, the advantages such as low toxicity, low cost, and highest potency against pathogenic microorganisms drive the market.
Mode of Delivery Overview in the Global Animal Antibiotics and Antimicrobials Market
The global animal antibiotics and antimicrobials market is classified into premixes, oral powder, oral solution, injection, and others. The premixes segment is held for a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to the rising demand for balance products. In addition, the advantages, including low price, simplified mode of administration, and high stability, drive the market.
Animal Type Overview in the Global Animal Antibiotics and Antimicrobials Market
Based on the animal type, the global animal antibiotics and antimicrobials market is classified into food-producing animals and companion animals. Furthermore, the food animal segment is bifurcated into cattle, pigs, poultry, sheep and goats, and other food-producing animals. The companion animals segment is bifurcated into dogs, cats, horses, and other companion animals. The food-producing animals are expected to be the highest revenue share for animal antibiotics and antimicrobials during the forecast period. The segment's hike is primarily attributed to the rising need for animal-derived food products.
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Region Overview in the Global Animal Antibiotics and Antimicrobials Market
The global animal antibiotics and antimicrobials market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to project considerable growth over 2020-2026. It is owing to the increasing animal population, rising animal health expenditure, and growing demand for animal-derived food products.
Global Animal Antibiotics and Antimicrobials Market: Competitive Landscape
Companies such as Ceva Sante Animale, Bayer AG, Elanco Animal Health, Boehringer Ingelheim, Vetoquinol, Merck And Co. Inc., Novartis AG, Zoetis Inc., Virbac SA, Phibro Animal Health, Endovac Animal Health, Zydus, HIPRA, Dechra Pharmaceuticals Plc, Kyoritsu Seiyaku, Tianjin Ringpu, China Animal Husbandry, Huvepharma Inc., Innovate, Lutim Pharma, Indian Immunologicals Pvt. Ltd, UCBVET, American Reagent Inc., Neogen Corporation, ECO Animal Health, and Ayurvet are the key players in the global animal antibiotics and antimicrobials market.
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