Global Animal Antibiotics & Antimicrobials to Post 4.6% CAGR to 2021, States M&M in Its In-demand Study Published at MarketPublishers.com09 Jan 2017 • by Natalie Aster
LONDON – The global market for animal antibiotics and antimicrobials is projected to increase from USD 3.77 billion as of 2016 to amount to USD 4.73 billion by 2021, registering a 4.6% CAGR.
The market growth is mainly driven by the increasing demand for animal-derived foods, soaring expenditures on animal health, rising demand for pet insurance and a hike in incidence rates of zoonoses. Additionally, the factors like the implementation of the regulations for preventing the spreading of animal diseases and an upsurge in awareness about animal healthcare.
Meantime, increasing resistive power to antimicrobial medicines and antibiotics, lack of novel antibiotic agents, and substitution of routine administration of prophylactic antibiotics by good husbandry and hygienic practices could act as the main forces hindering the growth of the market to a certain extent. Untapped emerging markets of China and India create huge opportunities for growth.
In 2015, North America grabbed the lion’s share of the market for animal antibiotics and antimicrobials. This is largely owing to the rising adoption of pets, booming pet insurance industry, increasing demand for animal-derived food products, and rising veterinary medicine spend across the region. Still, APAC is poised to see the fastest growth rate in the foreseeable future. Growth in this region’s market is likely to be attributed to a rise in pet population and an upsurge in the demand for animal-derived foods.
In-demand M&M research report “Animal Antibiotics and Antimicrobials Market” is a valuable source of cutting-edge information on the performance of the market on a global level. The study presents detailed market segmentation based on product, mode of delivery, animal type, and by region; presents market size data for the overall marketplace and each of the regions. The report also limelights the market dynamics covering key market growth restraints, drivers, challenges and opportunities. It highlights major industry trends examining technology trends, forthcoming technologies, and an analysis of the supply chain. The report provides extensive future forecasts for the market to 2021, canvasses the competitive scenario and profiles the 13 leading players in the market.
To find other in-demand research reports provided by M&M, please follow the publisher's catalogue at MarketPublishers.com.