The global animal antimicrobials and antibiotics market size is expected to reach US$ 6830.2 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.7% CAGR between 2019 and 2029. According to the report, the rising demand for animal protein product will stoke growth in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
The increasing demand for livestock products will aid the expansion of the market. Also, rising awareness about various diseases threatening animals is aiding in the growth of this animal antimicrobials and antibiotics market. However, the use of in-feed enzymes and stringent regulations are limiting the growth of this market. The increasing demand for pets and their spending towards health insurance is creating growth opportunities for the market.
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The estimated value of the market was at US$ 4314.9 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
Regionally, North America has emerged as a key market for animal antimicrobials and antibiotics.
Due to sudden outbreak of Coronavirus worldwide it will hamper the growth of the market.
Consumers are now focusing more on sanitization and cleanliness in their daily routine and more inclined towards health even of the pets due to this outspread. This is likely to fuel the demand for animal antimicrobials and antibiotics in the market
Key players are likely to focus on product innovations and business collaborations to stay relevant in developed markets.
Increasing Use of Milk, Meat and Related Animal Products Worldwide will Surge the Growth of the Market
The rising global demand for milk, meat, and other animal products is aiding growth of the market. The rising demand for a variety of meats diet and the rapid adoption of Western eating habits across the globe are fuelling the demand for animal antimicrobials and antibiotics across the globe. Factors such as increasing animal population, rising demand for animal-derived food products, increasing incidence of zoonotic diseases, implementation of regulations for preventing the spread of animal diseases, and rising demand for pet insurance and growing animal health expenditure are key factors driving the global animal antibiotics and antimicrobials market.
Who is Winning?
Some of the leading players operating in the animal antimicrobials and antibiotics market are Bioniche Animal Health, Fort Dodge Animal Health, Bayer Animal Health, Elanco Animal Health, Ceva Sante Animale S.A., Merck Animal Health, Virbac Animal Health, Zoetis, Inc., Merial, Phibro Animal Health Corp., and Novartis Animal Health.
As a result of the rising demand for animal protein products and the rising trend of ownership of pet animals the market will gain impetus. Companies intend to expand their regional footprint through strategic collaborations.
ANIMAL ANTIMICROBIALS AND ANTIBIOTICS MARKET TAXONOMY
The global Animal Antibiotics and Antimicrobials Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product
- Tetracyclines
- Penicillins
- Macrolides
- Aminoglycosides
- Sulfonamides
- Fluoroquinolones
- Lincosamides
- Cephalosporins
- Other Antimicrobials and Antibiotics
Mode of Delivery
- Premixes
- Oral Powders
- Oral Solutions
- Injections
Animal Type
- Food-producing Animals
- Companion Animals
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Significant Contributions of the Report
- Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
- Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
- Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
- Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistic to gain a competitive edge in the industry
- Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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