NEWARK, Del, Aug. 29, 2023 (GLOBE NEWSWIRE) — In 2023, the Animal Antimicrobials and Antibiotics Market is to accumulate a market value of US$ 4,911.9 million. By 2033, this number is expected to expand to US$ 7,878.2 million, with a Compound Annual Growth Rate (CAGR) of 4.9%.
The demand for animal antimicrobials and antibiotics is on the rise during the forecast period due to the widespread use of several types of milk and meat products, especially in the Western diet.
Zoonotic illnesses and demand for animal-derived food products are also factors contributing to the rising demand for the products. Due to rising demand for pet insurance and rising expenditures for veterinary care, this market share for animal antimicrobials and antibiotics is expected to grow.
Animal antimicrobials and antibiotics market participants can expect tremendously rapid development thanks to the potential held by the untapped markets in China, India, and Brazil during the forecast period. The overall population of animals can also be seen to be on the rise, which is another great contributing factor.
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- The United States holds a notable market share of 17.8% in the animal antimicrobials and antibiotics market in 2022, showcasing its significant role in the industry as a major consumer and contributor to the veterinary pharmaceutical sector.
- Germany, with a market share of 6.6%, demonstrates its participation in the animal antimicrobials and antibiotics market, emphasizing the country’s commitment to animal health and welfare through the use of appropriate pharmaceutical interventions.
- Japan’s market share in the animal antimicrobials and antibiotics market stands at 5.4% in 2022, reflecting the country’s focus on ensuring its livestock population’s well-being and disease management through the responsible use of antimicrobial products.
- Australia contributes to the animal antimicrobials and antibiotics market with a market share of 1.0% in 2022, emphasizing the country’s attention to animal health and its efforts to mitigate the impact of infectious diseases through the judicious use of antimicrobials.
- China exhibits a compound annual growth rate (CAGR) of 5.2% in the animal antimicrobials and antibiotics market, reflecting the country’s evolving livestock industry and the increasing demand for antimicrobial products to address animal health challenges and ensure food safety.
- India experiences a robust CAGR of 9.6% in the animal antimicrobials and antibiotics market, highlighting the country’s expanding livestock sector and the growing need for effective disease management and growth promotion in the animal farming industry.
- The United Kingdom showcases a CAGR of 5.9% in the animal antimicrobials and antibiotics market, indicating the country’s continuous efforts to promote responsible antimicrobial use, reduce the risk of antimicrobial resistance, and safeguard animal health and welfare in its agricultural practices.
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- Trianni Inc. (US) and Zoetis (US) have decided to work together on developing transgenic monoclonal antibody platforms to discover innovative veterinary medications. This collaboration began in July 2020. The FDA approved Zoetis’ purchase of Marboquin (US).
- Elanco (US) and AgBiome worked together to provide nutritional health solutions for pigs in 2019.
- By balancing its food animal and companion animal divisions, Elanco Animal Health (US) announced in 2019 that it purchases Bayer’s Animal Health Business, boosting its own companion animal business and portfolio mix.
- In 2019, Sanofi (France) purchased the Animal Health division of Boehringer Ingelheim (Germany) (Merial), and Boehringer Ingelheim (Germany) (CHC) was bought by Sanofi. After acquiring Merial, BI became the second-largest animal health firm in the world.
Key Companies Profiled in the Animal Antimicrobials and Antibiotics Market
- Bayer AG
- BoehringerIngelheim GmbH
- Dechra Pharmaceuticals PLC
- Eli Lilly and Company
- Merck & Co., Inc.
- Vetoquinol S.A.
- Zoetis, Inc.
- Elanco Animal Health
- Phibro Animal Health
- Kyoritsu Seiyaku (Japan)
- Tianjin Ringpu
- Zydus Animal Health
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Animal Antimicrobials and Antibiotics Market by Category:
By Product Type:
- Other Antimicrobials and Antibiotics
By Animal Type:
- Companion Animals
- Food Producing Animals
By Mode of Delivery:
- Oral Powder
- Oral Solution
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
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