SAN FRANCISCO, Dec. 11, 2019 /PRNewswire/ -- The global veterinary anti-infectives market size is anticipated to reach at USD 8.5 billion by 2026, registering a 6.4% CAGR during the forecast period, according to a new report published by Grand View Research, Inc. Rising prevalence of zoonotic diseases and bacterial infection, such as bovine TB, anthrax, and animal flu, is the key market driver. These diseases possess higher threat not only to animals but also to humans as they are food-borne, vector-borne, and communicable by direct and indirect contact. As per the Centers for Disease Control and Prevention (CDC) 2018, salmonella was the most common bacteria affecting the humans, especially the vets. The incidence and mortality rate might approach 100% during salmonella outbreaks. Antibiotics are used as an effective treatment for such outbreaks. This factor is anticipated to drive the market in near future.
Key suggestions from the report:
- Livestock held the dominant market share in 2018, due to important socio-cultural and economic roles of livestock, such as income and employment source, food supply, livelihood, agricultural diversification and sustainable agriculture
- Antibacterial segment held the largest market share in 2018, due to rising consumption of antibacterial drugs to curb the outbreaks of zoonotic diseases, globally
- Oral route of administration is the most preferred method and the segment held the dominant market share in 2018, due to the ease and comfort of administration through this method
- E-commerce segment is anticipated to witness rewarding CAGR over the forecast period due to convenience provided to pet and livestock owners reluctant to purchase medicines from retail or hospital pharmacies
- Zoetis, Vetiquinol, Merck, Boehringer Ingelheim GmbH, and Ceva Santé Animale are some of the major market participants due to their extensive product offerings and regional presence
- Companies are adopting different strategies, such as new product development, partnerships, mergers and acquisitions, strategic collaborations, and regional penetration to gain competitive advantage
Read 130 page research report with ToC on "Veterinary Anti-infectives Market Size, Share & Trends Analysis Report By Animal Type, By Product (Antibacterial, Antifungal, Antiviral) By Route of Administration, By Distribution Channel, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/veterinary-anti-infectives-market
Pharma giants are heavily investing in veterinary health R&D to not only address the growing disease burden but also to provide a better veterinary healthcare system. For instance, Zoetis increased their R&D fund from USD 382 million in 2017 to USD 432 million in 2018. Boehringer Ingelheim also invested around USD 41.90 million in 2018 for establishing new R&D facilities and for expanding their existing plants. The company also initiated 400 more clinical trials globally.
Groundbreaking technological advancements are rapidly transforming the veterinary anti-infectives market and are producing lucrative potentials for key participants. Some of the major market players are Merck & Co. Inc.; Zoetis; Boehringer Ingelheim; Ceva Santé Animale; Virbac; and others which account for a substantial market share, owing to their extensive product portfolio. Adoption of big data in livestock farming and wearable technologies to monitor pet health, are some of the notable strategic initiatives adopted by the market players.
Grand View Research has segmented veterinary anti-infectives market on the basis of the animal type, product, route of administration, distribution channel, and region:
- Veterinary Anti-infectives Animal Type Outlook (Revenue, USD Million, 2014 - 2026)
- Sheep & Goats
- Companion animal
- Veterinary Anti-infectives Product Type Outlook (Revenue, USD Million, 2014 - 2026)
- Others (Quinoles, sulfonamides, Polymyxins)
- Veterinary Anti-infectives Route of Administration Outlook (Revenue, USD Million, 2014 - 2026)
- Veterinary Anti-infectives Distribution Channel Outlook (Revenue, USD Million, 2014 - 2026)
- Veterinary Clinics
- Retail Pharmacies
- Veterinary Anti-infectives Regional Outlook (Revenue, USD Million; 2014 - 2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
Find more research reports on Animal Health Industry, by Grand View Research:
- Animal Genetics Market – Factors such as increasing population & rapid global urbanization and growing preference for animal protein & adoption of various genetic services are the key market growth drivers.
- Veterinary Medicine Market – The global veterinary medicine market size was estimated at USD 24.5 billion in 2018 and is expected to register a CAGR of 6.2% during the forecast period. Increasing demand to curb chronic and zoonotic diseases in livestock and pet animals is the key driver to this market.
- Companion Animal Diagnostics Market – Increasing prevalence of chronic diseases demanding effective diagnostics in pet animals is projected to fuel the growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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