Chicago, Nov. 14, 2023 (GLOBE NEWSWIRE) — Animal Antibiotics and Antimicrobials market in terms of revenue was estimated to be worth $4.7 billion in 2021 and is poised to reach $5.6 billion by 2026, growing at a CAGR of 3.6% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Market growth can largely be attributed to the rising demand for animal-derived food products, increasing 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.
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Animal Antibiotics and Antimicrobials Market Scope:
|Market Revenue in 2021||$4.7 billion|
|Estimated Value by 2026||$5.6 billion|
|Growth Rate||Poised to grow at a CAGR of 3.6%|
|Market Size Available for||2019-2026|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type of product, Mode of Delivery, Animal Type and Region|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunity||Growth in the companion animal population|
|Key Market Driver||Rising demand for animal-derived food products|
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.
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.
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.
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.
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Animal Antibiotics and Antimicrobials market major players covered in the report, such as:
- Boehringer Ingelheim (Germany)
- Zoetis Inc. (US)
- Elanco Animal Health (US)
- Merck & Co. Inc. (US)
- Phibro Animal Health (US)
- Virbac (France)
- Vetoquinol SA (France)
- HIPRA (Spain)
- Ceva Santé Animale (France)
- Dechra Pharmaceuticals Plc (UK)
- Kyoritsu Seiyaku (Japan)
- Tianjin Ringpu (China)
- China Animal Husbandry (China)
- Endovac Animal Health (US)
- Zydus (India)
- Indian Immunologicals Pvt. Ltd. (India)
- UCBVET (US)
- American Reagent Inc. (US)
- Neogen Corporation (US)
- Huvepharma Inc. (US)
- Ayurvet (India)
- Ashish Life Science (India)
- Inovet (Belgium)
- Lutim Pharma (India)
- ECO Animal Health (US)
- and Among Others
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The study categorizes the animal antimicrobials and antibiotics market based on By Type of Product, Mode of Delivery, and Animal Type at the regional and global level.
By Type of Product
- Other Antimicrobials and Antibiotics
By Mode of Delivery
- Oral Powder
- Oral Solution
By Animal Type
- Food-Producing Animals
- Sheep and Goats
- Other Food-producing Animals
- Companion Animals
- Other Companion Animals
- In 2020, Zoetis (US) acquired entered into an agreement with Trianni Inc. (US) to develop transgenic monoclonal antibody platforms for the discovery of new veterinary treatmentsThe acquisition of
- In 2020, Zoetis (US) received FDA approval for Marboquin
- In 2019, Elanco (US) collaborated with AgBiome to develop nutritional health products for porcine animals.
- In 2019, Elanco Animal Health (US) Announced the acquisition of Bayer’s Animal Health Business, thereby expanding its own companion animal business and portfolio mix by creating a balance between its food animal and companion animal segments
- In 2019, Boehringer Ingelheim (Germany) acquired Sanofi’s Animal Health business (Merial), and Sanofi took over Boehringer Ingelheim’s Consumer Healthcare (CHC) business. The acquisition of Merial made BI the world’s second-largest animal health company
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- To define, describe, and forecast the global animal antimicrobials and antibiotics market on the basis of product, mode of delivery, animal type, and region
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa, along with the major countries in these regions
- To profile the key players and comprehensively analyze their market shares and core competencies2 in the animal antimicrobials and antibiotics market
- To track and analyze competitive developments such as partnerships, collaborations, acquisitions, divestures, product development activities, and R&D activities in the animal antimicrobials and antibiotics market.
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: email@example.com
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