According to the recent FMI report, the animal antimicrobials and antibiotics market size is anticipated to cross a value of USD 3.5 billion in 2032, with a CAGR of 5.0% during the forecast period.
Rising rates of human illness are directly correlated with rising rates of animal disease, claims FMI. Therefore, to provide safe food, cattle traders mainly rely on animal antibiotics. The increased demand for dairy goods, meat, and other animal-based consumables is another issue that is having an impact on the industry.
The widespread use of various forms of meat and milk in dairy products, particularly in the Western diet, and the quick expansion of comparable eating patterns internationally, are predicted to lead to an increase in the demand for animal antimicrobials and antibiotics.
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It is expected that more people would keep companion animals and be prepared to invest money in maintaining their welfare. This will probably encourage the growth of the animal health sector, which in turn will increase demand for animal antibiotics and antimicrobials.
A few factors that are somewhat restraining the growth of the global market for animal antibiotics and antimicrobials include strict regulatory regulations and the increased usage of antibiotic replacements like feed enzymes and probiotics.
Key Takeaways from the Animal Antimicrobials and Antibiotics Market Study:
- Due to the high frequency of outbreaks of animal diseases in the region, North America dominates the market for animal antibiotics and antimicrobials.
- The global animal antimicrobials and antibiotics market is forecast to surpass US$ 3.5 billion by 2032.
- The global animal antimicrobials and antibiotics market is expected to have a CAGR of 5% through 2032.
- The global animal antimicrobials and antibiotics market is currently having a valuation of 2.2 billion during the forecast period.
- Due to rising disposable income, the global animal antimicrobials and antibiotics market in Asia Pacific is expected to grow at a significant rate.
Who is winning?
US, India, China, U.K., and Germany, Italy are the major countries driving demand for animal antimicrobials and antibiotics. Companies are creating strategic collaborations with important industry players to conduct research and create cutting-edge animal antibiotics and antimicrobials.
Recent Developments
- Elanco (US) and AgBiome worked together to provide nutritional health solutions for pigs in 2019.
- By balancing its food animal and companion animal divisions, Elanco Animal Health (US) announced in 2019 that it purchases Bayer’s Animal Health Business, boosting its own companion animal business and portfolio mix.
- In 2019, Sanofi (France) purchased the Animal Health division of Boehringer Ingelheim (Germany) (Merial), and Boehringer Ingelheim (Germany) (CHC) was bought by Sanofi. After acquiring Merial, BI became the second-largest animal health firm in the world.
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Get Valuable Insights into Animal Antimicrobials and Antibiotics Market
FMI, in its new offering, provides an unbiased analysis of Animal Antimicrobials and Antibiotics Market, presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Animal Antimicrobials and Antibiotics based on Product Type (Tetracyclines, Penicillins, Sulfonamides, Macrolides, Aminoglycosides, Lincosamides, Fluoroquinolones, Cephalosporins, Other Antimicrobials and Antibiotics) by Animal Type (Companion Animals, Food Producing Animals) by Mode of Delivery (Premixes, Oral Powder, Oral Solution, Injection) by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )
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Animal Antimicrobials and Antibiotics Market by Category
By Product Type:
- Tetracyclines
- Penicillins
- Sulfonamides
- Macrolides
- Aminoglycosides
- Lincosamides
- Fluoroquinolones
- Cephalosporins
- Other Antimicrobials and Antibiotics
By Animal Type:
- Companion Animals
- Food Producing Animals
By Mode of Delivery:
- Premixes
- Oral Powder
- Oral Solution
- Injection
Browse Full Report@ https://www.futuremarketinsights.com/reports/animal-antimicrobials-and-antibiotics-market
Frequently Asked Questions
- How big is the Animal Antimicrobials and Antibiotics Market?
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- What is the demand outlook forecast for the Animal Antimicrobials and Antibiotics Market?
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