In recent years, reports of deadly animal disease outbreaks have become more recurrent. These diseases are not only a threat to the existence of many wild species but also lead to substantial livestock losses.
New York, NY -- (SBWIRE) -- 09/22/2017 -- North America is currently the largest veterinary anti-infectives market and is estimated to represent 30.5% value share of the global market by 2025-end, expanding at CAGR of 3.7%. This growth is primarily attributed to the increase in pet ownership and demand for high-quality meat in the U.S. and Canada. Meanwhile, Latin America will continue to be the second most attractive market during the forecast period. The market in Asia Pacific (APAC) is projected to witness the fastest growth over 2025.
The prevention and treatment of such diseases are key market indicators for veterinary therapeutics including veterinary anti-infectives. In its latest report, Persistence Market Research has projected that the global veterinary anti-infectives market will expand at a CAGR of 4.1% over the forecast period (2017–2025) and reach a valuation of US$ 5,221.2 Mn by 2025-end.
Increasing demand for anti-microbial agents is expected to contribute significantly towards the growth of market revenue in the near future. The rise in livestock population can boost the demand for veterinary therapeutics globally. In 2014, the Food and Agriculture Organization of the United Nations estimated the global cattle count at over 1.5 billion. These figures are further expected to grow substantially due to rapidly growing demand for livestock.
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Based on species types, use of veterinary anti-infectives medicines is relatively higher on livestock animals as compared to pet animals. In 2016, livestock animals accounted for more than 68% market value share, however, this figure is likely to drop to 67.4% by 2025 end.
Antimicrobial agents currently are the most preferred drug type. By the end of forecast period, antimicrobial agents are expected to command for 54.6% value share of the market. Other drugs such as antifungal agents and antiviral agents are also gaining traction owing to product improvement and effectiveness.
Based on modes of administration, the oral route is presently the most common drug administration mode followed by the parenteral route. By the end of 2025, the oral administration segment is projected to reach a market valuation of US$ 1,573.1 Mn.
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Veterinary clinics are projected to reaming the leading distribution channel for veterinary anti-infectives in 2017 and beyond. Of late, veterinary hospitals and pharmacies have emerged as the other two key distribution channels for various veterinary drugs including anti-infectives.
Dechra Pharmaceuticals PLC, Bayer AG, Cipla Limited, Eli Lilly and Company (Elanco Animal Health), Heska Corp (Diamond Animal Health), Merck & Co., Inc. (Merck Animal Health), Neogen Corporation, Phibro Animal Health Corporation, Sanofi (Merial Animal Health), Vetoquinol S.A., Virbac S.A., Zoetis, Inc., Boehringer Ingelheim GmbH, Ceva Santé Animale, Indian Immunologicals Limited, Intas Pharmaceuticals Limited, Norbrook Laboratories Limited, Zydus Animal Health Limited, Ashish Life Science Private Limited, and Oceanic Pharmachem Private Limited are some of the top players operating in the global veterinary anti-infectives market.
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