Factors such as increasing animal population, rising demand for animal-derived food products, increasing incidences of zoonotic diseases, implementation of regulations for preventing the spread of animal diseases, and rising demand for pet insurance and growing animal health expenditure are the major factors driving the growth of the global animal antibiotics and antimicrobials market. However, dearth of new antibiotics, growing resistance to antimicrobials and antibiotics, and replacement of routine prophylactic use of antibiotics by good husbandry and hygiene practices may hinder the growth of this market to certain extent.
The “Animal Antibiotics and Antimicrobials Market witnessed significant growth during the last decade and is expected to grow at a CAGR of 4.6% between 2016 and 2021 to reach 4.73 Billion by 2021.
The global animal antibiotics and antimicrobials market is segmented based on product, mode of delivery, animal type, and geography.
Based on product type, the market is segmented into tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, cephalosporins, lincosamides, fluoroquinolones, and other antibiotics and antimicrobials. Based on mode of delivery, the market is further categorized into premixes, oral powders, oral solutions, injections, and other modes of delivery.
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Based on animal type, the market is segmented into food-producing animals and companion animals. The food-producing animals segment is further segmented into cattle, pigs, sheep and goats, poultry, and other food-producing animals. Similarly, on the basis of geography, the animal antibiotics and antimicrobials market is segmented into North-America, Europe, Asia-Pacific, and Rest of the World.
In 2015, the tetracyclines segment accounted for the largest share of the global animal antibiotics and antimicrobials market. However, fluoroquinolones segment is expected to witness the highest growth over the next five years. The high growth in this segment can be attributed to the advantages offered by fluoroquinolones such as higher efficacy at low concentration, quick penetration through tissues, and available variations in the route of administration.
North America is the largest regional segment for animal antibiotics and antimicrobials market owing to the well-established animal healthcare market. The largest share of this regional segment is driven by increasing demand for animal-derived food products, rising animal healthcare expenditure, growing animal population, and rising awareness about zoonotic diseases.
The market players, namely, Zoetis, Inc. (U.S.), Merck & Co., Inc. (U.S.), Bayer AG (Germany), Eli Lilly and Company (U.S.), and Virbac (France) held the major share of the animal antibiotics and antimicrobials market.