The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

1. Introduction

The animal antibiotics and antimicrobials market have demonstrated robust growth in recent years, witnessing an increase from $4.97 billion in 2023 to an estimated $5.34 billion in 2024, reflecting a noteworthy compound annual growth rate (CAGR) of 7.5%. Let’s explore the factors contributing to this growth and the anticipated trends shaping the market’s future.

2. Future Growth Projections

The animal antibiotics and antimicrobials market are poised for continued expansion, with a projected growth to $7.08 billion in 2028 at a CAGR of 7.3%. The forecast period’s growth is attributed to emerging diseases, global population growth, regulatory changes, and growing public health concerns.

• Future growth projections for animal antibiotics and antimicrobials market
• Factors driving growth: Emerging diseases, global population growth, regulatory changes

3. Rising Demand for Animal-Derived Products

The surge in demand for animal-derived food products, such as meat, eggs, and milk, is a key driver of market growth. Companies and institutions involved in animal food production are utilizing antibiotics and antimicrobials as preventive measures to ensure a healthy and disease-free herd. The Global Meat & Poultry trends report predicts global meat and poultry consumption to reach 313 million metric tons in 2023, further boosting the demand for animal antibiotics and antimicrobials.

• Increased demand for animal-derived food products
• Utilization of antibiotics for maintaining a healthy herd

4. Market Players and Key Companies

Major players in the animal antibiotics and antimicrobials market include C. H. Boehringer Sohn AG & Co. KG, Zoetis Inc., Elanco Animal Health Inc., and others. The competitive landscape showcases the strategic positioning and contributions of these industry leaders.

• Key players: Boehringer, Zoetis, Elanco, and more
• Competitive landscape in the animal antibiotics and antimicrobials market

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5. Innovations in Early Detection Tests

Companies are focusing on introducing early detection tests for animals, enhancing veterinarians’ capabilities in disease management. These tests, such as PetDx’s OncoK9, utilize next-generation sequencing technology and proprietary algorithms to detect cancer-associated genomic alterations in canine DNA, enabling early diagnosis through a simple blood draw.

• Innovations in early detection tests for animals
• Example: OncoK9 by PetDx

6. Strategic Acquisitions Shaping the Market

Strategic acquisitions contribute to market dynamics, exemplified by Dechra Pharmaceuticals’ acquisition of Piedmont Animal Health for $210 million in cash. This strategic move aims to bolster Dechra’s companion animal pharmaceutical product pipeline and expand its team of specialized researchers.

• Dechra Pharmaceuticals’ acquisition of Piedmont Animal Health
• Strategic moves in the animal antibiotics and antimicrobials market

7. Market Segmentation

Understanding the animal antibiotics and antimicrobials market involves exploring its segmentation based on the type of product, mode of delivery, and animal type. This nuanced segmentation provides insights into the diverse facets of the market.

• Segmentation of the animal antibiotics and antimicrobials market
• Product types: Tetracyclines, Penicillins, Sulfonamides, and more
• Modes of delivery: Premixes, Oral Powder, Injection, and others
• Animal types: Food-Producing Animals, Companion Animals

8. Regional Dynamics

In 2023, North America claimed the largest share in the animal antibiotics and antimicrobials market, with Asia-Pacific projected as the fastest-growing region in the forecast period. Regional dynamics play a pivotal role in shaping market trends and opportunities.

• North America leads the animal antibiotics and antimicrobials market
• Asia-Pacific as the fastest-growing region

In conclusion, the animal antibiotics and antimicrobials market’s growth is driven by factors such as rising demand for animal-derived products, innovations in early detection tests, strategic acquisitions, and a comprehensive market segmentation strategy. As the market evolves, emphasis on alternative solutions, collaborative initiatives, and increased investments in research positions it for sustained growth and advancements in animal health.

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