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Tylosin Market Size, Share, Growth & Forecast 2024-2033 | Trends & Key Players
Tylosin Market Size
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According to The Business Research Company's, The tylosin market size has grown strongly in recent years. It will grow from $0.70 billion in 2023 to $0.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increased livestock production, antibiotic growth promoters (agps), veterinary health awareness, government regulations and approvals, and increased prevalence of livestock diseases.
The tylosin market size is expected to see strong growth in the next few years. It will grow to $0.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising global meat consumption, focus on animal health and welfare, expansion of livestock farming in emerging markets, regulatory changes and ban on antibiotic growth promoters, and growing demand for organic and antibiotic-free meat. Major trends in the forecast period include increasing demand for antibiotic alternatives, stringent regulatory policies, advancements in precision livestock farming, growth in the organic and antibiotic-free meat market, and expansion of veterinary services and infrastructure.
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Market Drivers and Trends:
The increasing demand for healthcare services is expected to propel the growth of the refurbished MRI systems market going forward. Healthcare services encompass a range of medical and wellness treatments, including preventive, diagnostic, therapeutic, and palliative care, provided to individuals to maintain or improve their health. Various factors behind the increasing demand for healthcare services include an aging population, the rising prevalence of chronic diseases, advances in medical technology, and expanded healthcare access. Refurbished MRI systems play a role in meeting the increasing demand for healthcare services by providing cost-effective, high-quality imaging solutions that enhance diagnostic capabilities and accessibility. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Furthermore, spending on preventive care was $45.72 billion in 2021, more than doubling from 2020. Therefore, increasing demand for healthcare services drives the refurbished MRI systems market.
Major companies operating in the tylosin market are developing innovative solutions such as tulathromycin injection to enhance treatment options for livestock diseases. Tulathromycin injection is a broad-spectrum antibiotic used in veterinary medicine to treat respiratory and other infections in livestock. For instance, in May 2022, Merck & Co. Inc., a US-based pharmaceutical company, launched Tulathromycin injection (Arovyn), available in vials of 50, 100, 250, and 500 ml. This medication is prescribed to treat bovine respiratory disease (BRD), foot rot, and pinkeye in cattle, as well as respiratory disease in swine. Effective against pathogens such as Mannheimia haemolytica, Pasteurella multocida, and Moraxella bovis, tulathromycin offers a cost-effective treatment option for veterinarians and producers. It's important to note that it should not be administered to female dairy cattle aged 20 months or older, and there's a withdrawal period of 18 days for cattle and five days for swine before slaughter.
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Major Key Players of the Market:
Eli Lilly and Company, Zoetis Inc., Elanco Animal Health Inc., Ceva Santé Animale, Apeloa Pharmaceutical co. ltd, Phibro Animal Health Corporation, Shandong Lukang Pharmaceutical Co. Ltd, Vetoquinol S.A., Norbrook Inc., Qilu Animal Health Products Co. Ltd., Merck & Co. Inc., Hebei Veyong Animal Pharmaceutical, Suanfarma SA, Huvepharma AD, Rochem International Inc, AdvaCare Pharma, Ningxia Tairui Pharmaceutical Co. Ltd., HangZhou Think Chemical Co. Ltd., Vetgen Healthcare Pvt Ltd, Anhui Sinotech Industrial, Pucheng Chia Tai Biochemistry Co Ltd, All Chem Bio Sciences, Nestlife Science Pvt Ltd, Sunvet Pharma Private Ltd, BOC Sciences
Tylosin Market 2024 Key Insights:
• The tylosin market size is expected to see strong growth in the next few years. It will grow to $0.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• Meat Production Driving Growth In The Tylosin Market
• Innovative Macrolide Antibiotics For Livestock Diseases Enhanced Market Growth
• North America was the largest region in the tylosin market in 2023
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