Veterinary Infectious Disease Therapeutics Market Global Industry Analysis, Trends and Forecast, 2017-2027
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As per the data of United States Department of Agriculture the production of milk in the U.S. alone is more than 212 billion pound in 2016, and the federally inspected meat and poultry production was 94.3 billion in 2015. All this production demands a healthy livestock, but infectious diseases are a common problem for these industries. For the best productivity of these industries veterinary infectious disease therapeutics market needs to grow.
Veterinary Infectious Disease Therapeutics Market: Drivers and Restraints
The major factors that are most likely to drive the growth of veterinary infectious disease therapeutics market are the increasing demand for dairy, meat and poultry products due to the ever increasing population size and better standards of living. Other factors responsible for the growth of veterinary infectious disease therapeutics market includes the increasing awareness about the propagation of various zoonotic diseases (diseases that can be transmitted from animals to humans). Government measures to ensure food security is also responsible for the growth of veterinary infectious disease therapeutics market. The increase in the number of government or other non-profit organizations that work for the well-being of animal can also drive the market for veterinary infectious disease therapeutics.
The biggest challenges that the veterinary infectious disease therapeutics market is expected to face is the lack of awareness in the developing countries about animal health issues. Another factor that can limit the growth of veterinary infectious disease therapeutics market is the less number of veterinarians in the regions like the Middle East and Africa.
Veterinary Infectious Disease Therapeutics Market: Overview
The market for veterinary infectious disease therapeutics market has seen a significant growth in the past few years owing to the increasing awareness of people about the zoonotic diseases and their propagation. A significant advancement in the veterinary infectious disease therapeutics technology is also increasing the vertices of the market. There is a huge variety of drugs that can be used as antiinfectives for animals including specific drugs for diseases like malaria and tuberculosis. Veterinary infectious disease therapeutics market is expected to see a high CAGR in the forecast period due to the government measures that try to improve the condition and well-being of animals.
Veterinary Infectious Disease Therapeutics Market: Region-wise Outlook
A significant proportion of cattle population is present in the developing countries like India, China, Brazil but the lack of awareness and lesser developed economy in these countries inhibit the growth of veterinary infectious disease therapeutics market. Developed markets like North American and European markets have seen rapid growth in the last few years, and the growth rate is expected to rise over the forecast period in North America, Europe, and Asia Pacific but the growth rate is expected to be slower in the regions of the Middle East and Africa due to less GDP and disposable income in this region.
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Veterinary Infectious Disease Therapeutics Market: Key Market Participants
The major players involved in the production of veterinary infectious disease therapeutics includes Elanco Animal Health, Novartis Animal Health Inc., Merck & Co. Inc., Pfizer Animal Health and Sanofi.
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