The Veterinary Antibiotics Market Share, Market Size, And Growth Rate 2022
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The veterinary antibiotics market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 3%, as per The Business Research Company’s market report!
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The Veterinary Antibiotics Market Size In 2022 And Forecast
The global veterinary antibiotics market is expected to grow from $0.28 billion in 2021 to $0.3 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global veterinary antibiotics market size is expected to grow to $0.35 billion in 2026 at a CAGR of 3.6%.
The veterinary antibiotics market consists of sales of veterinary antibiotics and related services.
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An Increase In The Number Of Zoonotic Diseases Is Driving The Growth Of The Veterinary Antibiotics Market
A study conducted by the FoodNet (Centers for Disease Control and Prevention, USA) found that 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths are caused by zoonotic diseases. In addition, the highest incidences per 100,000 people in the USA are caused by infectious diseases such as campylobacter, salmonella, and shigella. Therefore, there is a need to diagnose these diseases in animals at an early stage, which is a major driver of the veterinary antibiotics market.
Competitive Landscape And The Regional Analysis Of The Veterinary Antibiotics Market
Major players in the veterinary antibiotics market are Bayer AG, Boehringer Ingelheim GmbH, Ceva Sante Animale, Eli Lilly Company, Elanco, Merck & Co, Sanofi, Virbac, Zoetis, and Crystal Pharma.
The Veterinary Antibiotics 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 veterinary antibiotics 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 veterinary antibiotics market.
Increasing Collaboration Between Companies – A Key Trend In The Veterinary Antibiotics Market
Collaboration offers companies the opportunity to combine technologies and a wide range, more diversified products to work with, and it also improves the quality of the antibiotics and the speed at which they are produced. Therefore, companies in the veterinary antibiotics market are focusing on collaborations.
Veterinary Antibiotics Market Segmentation By The Business Research Company
1) By Product: Anti-Parasitic, Anti-Bacterial, Non-Steroidal Anti-Inflammatory Drug, Other Products
2) By End User: Farm Animals, Companion Animals
3) By Administration: Premixes, Injections, Oral Powders, Oral Solutions, Other Administration
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