Veterinary Anti-infectives Global Market Report 2023
Major players in the veterinary anti-infectives market are Bayer AG, Boehringer Ingelheim, Ceva Santé Animale, Elanco Animal Health Incorporated, Zoetis Inc., Vetoquinol, Merck & Co., Phibro Animal Health, Aspen Veterinary Resources Ltd.
New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Anti-infectives Global Market Report 2023" - https://www.reportlinker.com/p06438629/?utm_source=GNW
, Bimeda Animal Health Limited, Dechra Pharmaceuticals, Intervet International B.V., Oceanic Pharmachem, Virbac Ltd., Indian Immunologicals Ltd (IIL), Norbrook Laboratories, and Ashish Life Science.
The global veterinary anti-infectives market grew from $4.64 billion in 2022 to $5.08 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary anti-infectives market is expected to grow to $7 billion in 2027 at a CAGR of 8.3%.
The veterinary anti-infectives market consists of revenues earned by entities by providing antibacterial that are used to prevent and treat animal diseases such as infections.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The term veterinary anti-infective refers to a broad category where animals are cared for by providing both illness prevention and cure approaches.
North America was the largest region in the veterinary anti-infectives market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the veterinary anti-infectives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drugs classes in veterinary anti-infectives are antimicrobial agents, antiviral agents, antifungal agents, and others.Antimicrobial agents are natural or synthetic substances that work by killing or inhibiting the growth of microorganisms such as bacteria, fungi, and algae.
The various species types involved are livestock animals and companion animals that are administered through oral, parenteral, and topical modes of administration and are distributed through veterinary hospitals, veterinary clinics, pharmacies, and other distribution channels.
An increase in pet ownership is expected to propel the growth of the veterinary anti-infectives market going forward.Pet ownership refers to owning a dog, cat, or other domestic pet at home.
Pet are being adopted as increasing number of the young population are considering them as part of their family, some owners are adopting them for their compassion, loyalty and the to prevent loneliness. For instance, according to South China Morning Post, a Hong Kong-based English-language newspaper, pet owners in China have reached 62.94 million in 2020 – up from 62.8 million in 2019. Therefore, an increase in pet ownership is driving the demand for veterinary anti-infectives market.
Technological advancements are a key trend gaining popularity in the veterinary anti-infectives market.Major companies operating in the market are using advanced technologies to sustain their position in the veterinary anti-infectives market.
For instance, in February 2021, Elanco Animal Health Incorporated, a US-based pharmaceutical company that manufactures drugs and vaccinations for pets and livestock launched Increxxa, the newly approved drug for livestock respiratory disease.Increxxa with its key ingredient being tulathromycin is delivered to the livestock in injection and targets the lungs’ site of infection swiftly for fast action and a lengthy half-life, providing cattle more time to establish a strong defense.
This product is designed for veterinary use and tulathromycin, the active ingredient in Increxxa, helps decrease the negative effects of bovine respiratory disease.
In June 2022, Ceva Santé Animale, a France-based multinational animal health company, acquired Artemis Technologies, Inc for an undisclosed amount.This acquisition complements Ceva’s rabies portfolio and extensive knowledge of the development of oral rabies vaccines and campaign management in Europe and other regions.
Ceva will increase its market footprint in North America with this acquisition. Artemis Technologies, Inc is a Canada-based oral rabies vaccine manufacturer.
The countries covered in the veterinary anti-infectives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The veterinary anti-infectives market research report is one of a series of new reports that provides veterinary anti-infectives market statistics, including veterinary anti-infectives industry global market size, regional shares, competitors with veterinary anti-infectives market share, detailed veterinary anti-infectives market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary anti-infectives industry. This veterinary anti-infectives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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