In a recent published report, Kenneth Research has updated the market report for Animal Antibiotics and Antimicrobials Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Animal Antibiotics and Antimicrobials Market products.
Kenneth Research has recently added a report titled Animal Antibiotics and Antimicrobials Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The Animal Antibiotics and Antimicrobials Market is thriving on account of the rising awareness amongst individuals for the benefits of maintaining a good health and the increasing need for high quality healthcare services amongst individuals. With the increasing prevalence of diseases worldwide, people are opting for products that help them to stay fit and are also investing more on healthcare services. Alternatively, pharmaceutical manufacturers, along with other healthcare companies that manufactures devices and equipment, are increasingly focusing on the research and development of advanced treatment, drugs and equipment for the diagnosis and treatment of the diseases and for developing healthcare products. Organizations are raising their R&D expenses year-on-year so as to deliver quality healthcare products in the years to come. The advancements in the healthcare sector are also supported by the governments of nations worldwide with numerous financial aids.
The global Animal Antibiotics and Antimicrobialsmarket was valued at USD 3.76billion in 2016 and is projected to reach USD 5.60billionby 2025, growing at a CAGR of 4.54% from 2017 to 2025.
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Animal Antibiotics are in high demand due to increasing breeding practices and increment in Animal Product requirement. The market is expected to grow during the forecast period at a high rate.
1. Market Drivers
1.1 Rising Demand for Animal-Derived Food Products
1.2 Increasing Incidence of Zoonotic Diseases
1.3 Implementation of Regulations for Preventing the Spread of Animal Diseases
1.4 Rising Demand for Pet Insurance and Growing Animal Health Expenditure
2. Market Restraints
2.1 Dearth of New Antibiotics
2.2 Growing Resistance to Antimicrobials and Antibiotics
2.3 Routine Prophylactic Use of Antibiotics Being Replaced By Good Husbandry and Hygiene Practices
1. By Mode Of Delivery:
1.2 Oral Powders
1.3 Oral Solutions
1.5 Other Modes of Delivery
2. By Product:
2.9 Other Antimicrobials and Antibiotics
3. By Type of Animal:
3.1 Food Producing
3.1.4 Sheep and Goats
3.1.5 Other Food-Producing Animals
3.2.4 Other Companion Animals
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Zoetis, Inc.
2. BoehringerIngelheim GmbH
3. Eli Lilly and Company
4. Merck & Co., Inc.
5. Bayer AG
9. Vetoquinol S.A.
10. Dechra Pharmaceuticals PLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Animal Antibiotics and Antimicrobialsmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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