Animal Antibiotics and Antimicrobials Market by Product, Mode of Delivery and Animal – Global Forecast to 2026 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Animal Antibiotics and Antimicrobials Market by Product (Tetracycline, Penicillin, Sulfonamide, Macrolide, Cephalosporin, Lincosamide), Mode of Delivery (Premixes, Oral Solution, Injection), Animal (Food producing & Companion) – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global animal antimicrobials and antibiotics market is projected to reach USD 5.6 billion by 2026 from USD 4.7 billion in 2021, at a CAGR of 3.6% from 2021 to 2026.
Market growth can largely be attributed to the rising demand for animal-derived food products, increasing the incidence of zoonotic diseases, and the implementation of regulations to prevent the spread of animal diseases. Rising animal healthcare spending and the growing demand for pet insurance are further expected to drive the growth of this market. The untapped emerging markets such as China, India, and Brazil and growth in the overall companion animal population are also expected to offer significant growth opportunities to market players in the coming years.
However, the limited number of new antibiotics, growing resistance to antimicrobials and antibiotics, and increasing good husbandry and hygiene practices are expected to hinder the growth of this market to a certain extent.
The Tetracyclines segment accounted for the largest market share in 2020.
Based on products, the global animal antimicrobials and antibiotics market is segmented into tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, lincosamides, fluoroquinolones, cephalosporins, and other antimicrobial and antibiotic products. In 2020, the tetracyclines segment accounted for 48.9% of the global animal antimicrobials and antibiotics market. Tetracyclines exhibit advantages such as the highest potency against pathogenic microorganisms, are well-absorbed, show low toxicity, and are relatively inexpensive compared to other animal antimicrobial and antibiotic products. These advantages contribute to the large share of this product segment. The fluoroquinolones segment is expected to grow at the highest CAGR of 8.0% during the forecast period. Advantages such as higher efficacy at low concentrations, quick penetration through tissues, and the availability of variations in the route of administration result in the higher adoption of fluoroquinolones among end users.
The Premixes segment accounted for the largest market share in 2020.
Based on the mode of delivery, the global animal antimicrobials and antibiotics market is segmented into premixes, oral powders, oral solutions, injections, and other modes of delivery. In 2020, the premixes segment accounted for the largest share of 46.3% of the global animal antimicrobials and antibiotics market. The large share of this segment can be attributed to the advantages of premixes, such as simplified mode of administration and lower instability and hygroscopicity of formulations. The injections segment is expected to witness the highest CAGR of 4.9% during the forecast period. Advantages such as immediate delivery of drugs and rapid onset of drug effects are expected to drive growth in this market.
The food producing animal segment accounted for the largest market share in 2020.
Based on animal type, the global animal antimicrobials and antibiotics market is categorized into food-producing animals and companion animals. In 2020, the food-producing animals segment accounted for the largest share of around 73.4%. This segment is also expected to register the highest CAGR of 3.9% during the forecast period. The large share of this segment is mainly due to the rising demand for animal-derived food products, increase in animal healthcare expenditure, and greater concerns about zoonotic diseases.
North America was the largest regional market for animal antibiotics and antimicrobials market in 2020
The animal antimicrobials and antibiotics market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 30.3% of the global animal antimicrobials and antibiotics market. The large share of this region is mainly due to the increase in the region’s animal population, rising demand for animal-derived food products, growth in pet insurance, and rising animal health expenditure compared to other regions.
The Asia Pacific region is projected to grow at the highest CAGR of 5.4% during the forecast period. Factors such as the rapidly increasing animal population and rising demand for animal-derived food products are driving the growth of this market in the APAC.
Market Dynamics
Drivers
- Rising Demand for Animal-Derived Food Products
- Increasing Incidence of Zoonotic Diseases
- Increasing Investments from Private Players
- Rising Demand for Pet Insurance and Growing Animal Health Expenditure
Restraints
- Limited Number of New Antibiotics
- Growing Resistance to Antimicrobials and Antibiotics
- Routine Prophylactic Use of Antibiotics Being Replaced by Good Husbandry, Probiotics, and Hygiene Practices
Opportunities
- Untapped Emerging Markets
- Growth in the Companion Animal Population
Challenges
- Stringent Approval Process for Antimicrobials and Antibiotics
Companies Mentioned
- Ashish Life Science (Als)
- Boehringer Ingelheim Gmbh
- Ceva Sante Animale
- China Animal Husbandry
- Dechra Pharmaceuticals plc
- Eco Animal Health Group plc
- Elanco Animal Health
- Endovac Animal Health
- Hipra
- Indian Immunologicals Ltd.
- Inovet
- Kyoritsu Seiyaku
- Lutim Pharma
- Merck & Co. Inc.
- Phibro Animal Health
- Tianjin Ringpu
- Vetoquinol Sa.
- Virbac
- Zoetis, Inc.
- Zydus Animal Health
For more information about this report visit https://www.researchandmarkets.com/r/i718rv
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