Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.57 Billion | USD 6.25 Billion | 3.68% | 2023 |
The global animal antimicrobials and antibiotics market size was worth around USD 4.57 billion in 2023 and is predicted to grow to around USD 6.25 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.68% between 2024 and 2032.
The report covers the forecast and analysis of the animal antibiotic market on a global and regional level. The study provides historical data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the animal antibiotic market has also been included in the study. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period. The study encompasses a market attractiveness analysis, wherein type segments are benchmarked based on their market size, growth rate, and general attractiveness.
Animal Antimicrobials and Antibiotics Market: Introduction
Antibiotics are a class of antimicrobials widely used for the treatment of bacterial infections. Antibiotics either kill or suppress the growth of bacteria by inhibiting the cell wall & protein synthesis. Most of the antibiotics are used to treat bacterial infections. Antibiotics are administered to various animals like dogs, cows, goats, cats, etc. either to prevent or to treat various types of infections. Western-type diet comprises various meat of animals which led to the continuous use of animal antimicrobials and antibiotics.
Animal Antimicrobials and Antibiotics Market: Dynamics
The animal antimicrobials and antibiotics market is majorly driven by the increasing incidence of bacterial infection in animals. Furthermore, the rapid adoption of Western eating habits across distant parts of the globe is a leading factor in increased demand for animal antimicrobials and antibiotics. Moreover, the continuous increase in companion animal ownership is one of the factors driving the growth of this market. However, increased use of in-feed enzymes and probiotics as an alternative are the restraining factors for the growth of the animal antimicrobials and antibiotics market. Antibiotic resistance and generic competition are the two foremost factors that play a significant role in hindering the growth of the market.
The report provides a detailed segmentation of the animal antibiotic market based on type, animals, route of administration, and regional segment.
Report Attributes | Report Details |
---|---|
Report Name | Animal Antimicrobials and Antibiotics Market |
Market Size in 2023 | USD 4.57 Billion |
Market Forecast in 2032 | USD 6.25 Billion |
Growth Rate | CAGR of 3.68% |
Number of Pages | 235 |
Key Companies Covered | Zoetis Inc. (U.S.), Elanco Animal Health (U.S.), Merck Animal Health (U.S.), Merial (U.S.), Bayer Animal Health (Germany), Virbac Animal Health (U.S.), CEVA Santé Animale (U.S.), and others. |
Segments Covered | By Product, By Mode of Delivery, By Animal Type, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Animal Antimicrobials and Antibiotics Market: Regional Analysis
Geographically, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand has been analyzed and forecast based on the trends for six years. North America was the leading segment of the animal antibiotic market in 2023. However, the market share of this region is expected to decrease in the coming years primarily due to the regulatory ban on the use of antibiotics announced in the U.S. The animal antibiotic market is expected to witness good growth in the Asia-Pacific region in the coming years due to increased urbanization, rising disposable incomes, an increase in the demand for animal products and the increasing trend of pet ownership in these regions.
The global animal antimicrobials and antibiotics market is dominated by players like:
The global animal antibiotics and antimicrobials market is segmented as follows:
By Product Segment Analysis
By Mode of Delivery Segment Analysis
By Animal Type Segment Analysis
By Regional Segment Analysis
FrequentlyAsked Questions
Animal antimicrobials and antibiotics are drugs used to treat or prevent infections in animals. They encompass various classes of medications similar to those used in humans.
According to a study, the global animal antimicrobials and antibiotics market size was worth around USD 4.57 billion in 2023 and is expected to reach USD 6.25 billion by 2032.
The global animal antimicrobials and antibiotics market is expected to grow at a CAGR of 3.68% during the forecast period.
North America is expected to dominate the animal antimicrobials and antibiotics market over the forecast period.
Leading players in the global animal antimicrobials and antibiotics market include Zoetis Inc. (U.S.), Elanco Animal Health (U.S.), Merck Animal Health (U.S.), Merial (U.S.), Bayer Animal Health (Germany), Virbac Animal Health (U.S.), and CEVA Santé Animale (U.S.), among others.
The animal antimicrobials and antibiotics market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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