PUBLISHER: The Business Research Company | PRODUCT CODE: 1392955
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392955
“Veterinary Anti-infectives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary anti-infectives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary anti-infectives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The veterinary anti-infectives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The term veterinary anti-infective refers to a broad category encompassing approaches for both preventing and treating illnesses in animals.
The main types of drug classes in veterinary anti-infectives include antimicrobial agents, antiviral agents, antifungal agents, and others. Antimicrobial agents are substances, either natural or synthetic, that function by killing or inhibiting the growth of microorganisms such as bacteria, fungi, and algae. Various species, including livestock animals and companion animals, are involved in the administration of these drugs through oral, parenteral, and topical modes. Distribution channels for veterinary anti-infectives include veterinary hospitals, veterinary clinics, pharmacies, and other relevant outlets.
The veterinary anti-infectives market research report is one of a series of new reports from The Business Research Company that provides veterinary anti-infectives market statistics, including veterinary anti-infectives industry global market size, regional shares, competitors with veterinary anti-infectives market share, detailed veterinary anti-infectives market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary anti-infectives industry. This veterinary anti-infectives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The veterinary anti-infectives market size has grown strongly in recent years. It will grow from $5. 09 billion in 2023 to $5. 58 billion in 2024 at a compound annual growth rate (CAGR) of 9. 6%. The expansion observed in the historical period can be attributed to several factors, including the increasing trend of pet ownership, the prevalence of infectious diseases among animals, advancements in veterinary medicine, rising awareness of the importance of animal health, and supportive government initiatives.
The veterinary anti-infectives market size is expected to see strong growth in the next few years. It will grow to $8. 05 billion in 2028 at a compound annual growth rate (CAGR) of 9. 6%. The anticipated growth in the forecast period can be attributed to several factors, including the continued growth of the pet population, the emergence of zoonotic diseases, the globalization of the pet trade, and the increasing expenditure on veterinary healthcare. Key trends expected in the forecast period encompass technological advancements in veterinary anti-infectives, an increasing adoption of biologicals in veterinary medicine, the integration of telehealth in veterinary services, a growing focus on natural and herbal alternatives in animal healthcare, the expansion of e-commerce in the veterinary pharmaceuticals sector, and increased collaborations and partnerships within the industry.
The growth of the veterinary anti-infectives market is anticipated to be propelled by an increase in pet ownership. Pet ownership, involving the care of domestic animals like dogs and cats, has seen a significant rise, particularly among the younger population. Pets are considered part of the family, providing companionship, loyalty, and preventing loneliness. Chewy Inc. reported that in 2021, around 977,202 pets were adopted in the United States, representing the highest adoption rate in the past six years at 61%. This surge in pet ownership is a driving factor for the demand in the veterinary anti-infectives market.
The veterinary anti-infectives market is expected to witness growth due to the increasing trend of rising livestock production. Livestock, including cattle, sheep, pigs, chickens, and goats, are raised for various purposes, such as food production, labor, and companionship. Veterinary anti-infectives play a crucial role in treating infections in animals, ensuring their health and well-being, and preventing and controlling diseases. According to the National Agricultural Statistics Service, in the US, there were approximately 28. 9 million beef cows, 9. 4 million dairy cows, and an estimated 11. 1 million cattle on feed in 2022. The expanding livestock production contributes to the growth of the veterinary anti-infectives market.
Moreover, technological advancements are a noteworthy trend in the veterinary anti-infectives market, with major companies utilizing advanced technologies to maintain their market positions. Elanco Animal Health Incorporated introduced Increxxa, a newly approved drug for livestock respiratory disease, in February 2021. This drug, featuring tulathromycin as a key ingredient, is delivered through injection to swiftly target lung infections in livestock, providing a quick response and a prolonged half-life. This technological innovation is designed for veterinary use, addressing bovine respiratory disease in cattle.
Strategic partnerships are another significant approach adopted by major players in the veterinary anti-infectives market to address the threat of antimicrobial resistance. In November 2022, The Food and Agriculture Organization of the United Nations (FAO), the UN Environment Programme (UNEP), the World Health Organization (WHO), and the World Organization for Animal Health (WOAH) jointly launched The Antimicrobial Resistance Multi-Stakeholder Partnership Platform. This initiative aims to highlight the global threat posed by antimicrobial resistance and ensure a coordinated international effort to address its challenges and consequences.
In June 2022, Ceva Sante Animale, a multinational animal health company based in France, acquired Artemis Technologies, Inc., a Canada-based oral rabies vaccine manufacturer, for an undisclosed amount. This strategic acquisition enhances Ceva's rabies portfolio and expands its market footprint in North America.
Major companies operating in the in the veterinary anti-infectives market report are Bayer AG, C. H. Boehringer Sohn AG & Co. KG, Ceva Sante Animale, Elanco Animal Health Incorporated, Zoetis Inc., Vetoquinol S. A., Merck & Co., Phibro Animal Health, Aspen Veterinary Resources Ltd., Bimeda Animal Health Limited, Dechra Pharmaceuticals Plc, Intervet International B. V., Oceanic Pharmachem Pvt. Ltd., Virbac Ltd., Indian Immunologicals Ltd. (IIL), Norbrook Laboratories Ltd., Ashish Life Science Pvt. Ltd., Kyoritsu Seiyaku Corporation, Tianjin Ringpu Bio-Technology Co. Ltd., HIPRA, Zydus Animal Health and Investments Limited, China Animal Husbandry Group, ZOOVETVARU Ltd., Magnum Veterinaaria Ltd., Inovet (V. M. D. nv/sa), Chanelle Pharmaceuticals Manufacturing Ltd., Huvepharma Inc., Veyx Pharma GmbH, Biovet Pvt. Ltd., Laboratorios Ovejero SA, Laboratorios Syva S. A.
North America was the largest region in the veterinary anti-infectives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary anti-infectives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the veterinary anti-infectives market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The veterinary anti-infectives market consists of revenues earned by entities by providing antibacterial that are used to prevent and treat animal diseases such as infections. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.