Animal Antibiotics and Antimicrobials Market Worth 4.73 Billion USD by 2021
12 Dec, 2016, 11:30 GMT
PUNE, India, December 12, 2016 /PRNewswire/ --
According to a new market research report "Animal Antibiotics and Antimicrobials Market by Product (Tetracycline, Penicillin, Sulfonamide, Macrolide, Cephalosporin, Fluoroquinolone) Mode of Delivery (Premixes, Oral Powder, Injection) Animal (Food-producing & Companion) - Global Forecast to 2021", published by MarketsandMarkets, the market witnessed significant growth during the last decade and is expected to grow at a CAGR of 4.6% between 2016 and 2021 to reach 4.73 Billion by 2021.
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Browse 165 market data Tables and 39 Figures spread through 207 Pages and in-depth TOC on "Animal Antibiotics and Antimicrobials Market"
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The growth in this market is majorly attributed to factors such as growing animal population, rising animal healthcare expenditure, rising pet adoption, growing demand for animal-derived food products, rising awareness about zoonotic diseases, and implementation of regulations for preventing the spread of animal diseases.
The global Animal Antibiotics and Antimicrobials Market is segmented based on product, mode of delivery, animal type, and geography. Based on product type, the market is segmented into tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, cephalosporins, lincosamides, fluoroquinolones, and other antibiotics and antimicrobials. Based on mode of delivery, the market is further categorized into premixes, oral powders, oral solutions, injections, and other modes of delivery. Based on animal type, the market is segmented into food-producing animals and companion animals. The food-producing animals segment is further segmented into cattle, pigs, sheep and goats, poultry, and other food-producing animals. Similarly, on the basis of geography, the Animal Antibiotics and Antimicrobials Market is segmented into North-America, Europe, Asia-Pacific, and Rest of the World.
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In 2015, the tetracyclines segment accounted for the largest share of the global Animal Antibiotics and Antimicrobials Market. However, fluoroquinolones segment is expected to witness the highest growth over the next five years. The high growth in this segment can be attributed to the advantages offered by fluoroquinolones such as higher efficacy at low concentration, quick penetration through tissues, and available variations in the route of administration.
North America is the largest regional segment for Animal Antibiotics and Antimicrobials Market owing to the well-established animal healthcare market. The largest share of this regional segment is driven by increasing demand for animal-derived food products, rising animal healthcare expenditure, growing animal population, and rising awareness about zoonotic diseases. However, the market in the Asia-Pacific region is expected to grow at the highest CAGR, owing to growing animal population, increasing demand for animal-derived food products, rising awareness regarding animal health and welfare, and growing per capita animal health expenditure, especially in India and China.
The market players, namely, Zoetis, Inc. (U.S.), Merck & Co., Inc. (U.S.), Bayer AG (Germany), Eli Lilly and Company (U.S.), and Virbac (France) held the major share of the Animal Antibiotics and Antimicrobials Market and will continue to dominate the market between 2016 and 2021. Some of the major players competing in this market are Zoetis, Inc. (U.S.), Bayer AG (Germany), Merck & Co., Inc. (U.S.), Eli Lilly and Company (U.S.), Virbac (France), Boehringer Ingelheim GmbH (Germany), Ceva Sante Animale (France), Vetoquinol S.A. (France), Sanofi (France), and Dechra Pharmaceuticals PLC (U.K.).
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