The Animal Antibiotics and Antimicrobials Market Share, Market Size, And Growth Rate 2022
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The animal antibiotics and antimicrobials market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 4 %, as per The Business Research Company’s market report!
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The Animal Antibiotics and Antimicrobials Market Size In 2022 And Forecast
The global animal antibiotics and antimicrobials market is expected to grow from $4.23 billion in 2021 to $4.49 billion in 2022 at a compound annual growth rate (CAGR) of 6.11%. The global animal antibiotics and antimicrobials market is expected to grow to $5.26 billion in 2026 at a compound annual growth rate (CAGR) of 4.04%.
The animal antibiotics and antimicrobials market consists of sales of animal antibiotics and antimicrobials by entities (organizations, sole traders, partnerships) that refer to veterinary medications that work against bacteria or microorganisms by either killing bacteria or microorganisms or limiting their development and multiplication.
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Rise In Demand For Animal-Derived Food Products Is Driving The Growth Of The Animal Antibiotics and Antimicrobials Market
According to the data published in the Packaged Facts report on Global Meat & Poultry Trends, global meat and poultry consumption is expected to reach 313 million metric tons in 2023, at a year-on-year growth rate of 1.4%. Therefore, increasing demand for animal-derived food products is expected to boost demand for animal antibiotics and antimicrobials during the forecast period.
Competitive Landscape And The Regional Analysis Of The Animal Antibiotics and Antimicrobials Market
Major players in the animal antibiotics and antimicrobials market are Boehringer Ingelheim, Zoetis Inc., Elanco Animal Health, Merck & Co. Inc., Phibro Animal Health, Vetoquinol SA, Lutim Pharma, Ceva Santé Animale, Dechra Pharmaceuticals Plc, Kyoritsu Seiyaku, Huvepharma Inc., Zydus, Indian Immunologicals Pvt. Ltd, Bayer Animal Health, Virbac Animal Health, and Phibro Animal Health Corp.
Additionally, as per TBRC’s research – North America was the largest region in the animal antibiotics and antimicrobials market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Animal Antibiotics and Antimicrobials Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the animal antibiotics and antimicrobials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the animal antibiotics and antimicrobials market.
Strategic Partnerships – A Key Trend In The Animal Antibiotics and Antimicrobials Market
The companies operating in the animal antibiotics and antimicrobial sectors are entering into strategic partnerships with relevant industry players for the research and development of innovative animal antibiotics and antimicrobials.
Animal Antibiotics and Antimicrobials Market Segmentation By The Business Research Company
1) By Type of Product: Tetracyclines, Penicillins, Sulfonamides, Macrolides, Aminoglycosides, Lincosamides, Fluoroquinolones, Cephalosporins, Other Antimicrobials and Antibiotics
2) By Mode of Delivery: Premixes, Oral Powder, Oral Solution, Injection, Others
3) By Animal Type: Food-Producing Animals, Companion Animals
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