Sarasota, FL, Dec. 13, 2017 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Veterinary Anti-Infectives Market by Species Type (Livestock and Companion), by Drug Class (Antimicrobial, Antiviral, Antifungal and Antiparasitic Agents), by Mode of Administration (Oral, Parenteral and Topical) and End-users (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, global veterinary anti-infectives market was valued at approximately USD 3,390 million in 2016 and is expected to generate revenue of around USD 4,364 million by end of 2022, growing at a CAGR of around 4.3% between 2017 and 2022.
The discovery, development, and marketing of animal health anti-infective products are at an important crossroads. The convergence of market conditions, new regulatory guidance, political decisions and food safety concerns has led to a redirection of research away from traditional antibiotics and towards other products that have an increased probability of acceptance in the marketplace and shareholder return. Increasing incidence of zoonotic and food-borne disorders and the need of mitigating such diseases is projected to render an exponential growth for veterinary therapeutics, including veterinary anti-infectives.
Browse through 119 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Veterinary Anti-Infectives Market, 2016: Industry Type, Size, Share, Trends and Forecast, 2022”.
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The population of traditional companion animals, especially dogs and cats, has increased marginally in the last decade but the willingness of companion and livestock animal owners to spend more on their animals health and the ability of veterinarians to meet that need, have continued to be key drivers of this market, in spite of hindrances like shortage of veterinarians in emerging markets. Across developed countries, the ownership of companion and livestock animals of various known and exotic breeds has remained high for the last few decades. Developing countries are catching up in this regard as well. Across the world, livestock animals are majorly domesticated for their economic value. Dairy products, meat, fibers, and fertilizers derived from companion animals have considerable market value. In addition, their labor is put to use in agriculture and farming. Spurred by these factors the demand for veterinary drugs has increased as veterinarians and owners focus more on ensuring the health and wellness of companion pets.
North America represents developed regional markets for veterinary anti-infectives and is expected to see rapid growth in the years to come. Increase in pet ownership and soaring demand for improved nutrition, especially animal protein and widened focus on food safety has contributed to the higher demand. Another trend that is followed in North America is pet insurance. Currently, less than one percent of pets are covered by insurance. However, the enrollment is growing at 10% per year in the United States.
Browse the full ” Veterinary Anti-Infectives Market by Species Type (Livestock and Companion), by Drug Class (Antimicrobial, Antiviral, Antifungal and Antiparasitic Agents), by Mode of Administration (Oral, Parenteral and Topical) and End-users (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/veterinary-anti-infectives-market
Europe is the second largest regional market and is expected to show significant growth in the years to come. The cost of veterinary medicine has been steadily rising over the last several years. According to the Bureau of Labor and Statistics, veterinary costs have risen 73% from 2006 to 2016. This increase is largely due to the technological advances in veterinary medicine over the years.
The fast growth in the Asia Pacific region is attributed to trends such as the promotion of small animal care, the livestock segment fueling the market for veterinary therapeutics, and key players focusing on distribution partnerships in India. China is the largest contributor in the Asia Pacific region and is expected to represent a high market value in the forecast period. Following China, Japan is the second biggest market for veterinary anti-infectives and India is at the third position.
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In Middle East & Africa; African region is projected to register noticeable growth owing to increased government funding and a high burden of foodborne diseases. Latin America is another important regional market and is expected to experience moderate growth over the forecast period. Thus, all the aforementioned parameters are expected to propel the market growth in this region.
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Some of the key players in veterinary anti-infectives market include Bayer AG, Dechra Pharmaceuticals Ltd., Neogen Corporation, Phibro Animal Health Corporation, Vetoquinol S.A., Intas Pharmaceuticals, Inc., Ceva Santé Animale, Zydus Animal Health Limited, Cipla Limited, Heska Corporation, Virbac S.A., Zoetis, Inc., and Elanco Animal Health (Eli Lilly and Company). Product differentiation, new product launches, geographic expansion and merger and acquisition are some of the strategies adopted by these industry participants.
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This report segments the global veterinary anti-infectives market as follows:
Global Veterinary Anti-Infectives Market: Species Segment Analysis
Global Veterinary Anti-Infectives Market: Drug Class Segment Analysis
- Antimicrobial Agents
- Antiviral Agents
- Antifungal Agents
- Antiparasitic Agents
Global Veterinary Anti-Infectives Market: Mode of Administration Segment Analysis
Global Veterinary Anti-Infectives Market: End-user Segment Analysis
- Veterinary Hospitals
- Veterinary Clinics
Global Veterinary Anti-Infectives Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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