Animal Antibiotics and Antimicrobials Market is expected to register a healthy CAGR during the forecast period.
Growing usage of various meats in Western diet together with increasing adoption of the Western eating habits throughout the globe is expected to stimulate demand supply for animal antibiotics and antimicrobials market.
Investments in Biosecurity to Curb Animal Diseases
Animal diseases for instance, African swine fever or avian influenza are increasing day after day, thereby affecting new areas as well. Therefore, reducing probable risks by means of implementing procedures developed for avoiding spread and introduction of pathogens in the animal population is expected to create lucrative growth opportunities for animal antibiotics and antimicrobials market. Heavy efforts have been taken by veterinary services to enter into collaboration with various stakeholders, thereby developing appropriate biosecurity measures, positively impacting on the development of animal antibiotics and antimicrobials market. OIE Regional Commission for Europe is planning to implement biosecurity plans for enhancing biosecurity in the non-commercial and backyard farms as well, thereby preventing spread of diseases. Growing measures taken to prevent spread of the animal diseases is further expected to contribute towards the growth of animal antibiotics and antimicrobials market.
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Rising Pet Health Insurance and Animal Healthcare Expenditure Boosts Sales
Increasing pet insurance is mainly attributed towards surging cost of the veterinary services and treatments. However, growing veterinary expenditure and increasing number of veterinary visits are expected to dive in significant opportunities for animal antibiotics and antimicrobials market growth. Increasing ownership of the companion animals has led to surging number of veterinary orthopedic treatment, which in turn drives demand supply in animal antibiotics and antimicrobials market. Growing obesity cases in the pets are significantly contributing towards stimulated animal healthcare expenditure, thereby impacting on the growth and development of animal antibiotics and antimicrobials market in the long run.
Fluoroquinolones Gain Prominence
Fluoroquinolones is expected to witness growing demand in animal antibiotics and antimicrobials market owing to its high-efficiency at low concentration, diversified route of administration and quicker penetration through tissues. However, increasing number of stringent regulations regarding the usage of fluoroquinolones is likely to impact on the revenue sales in animal antibiotics and antimicrobials market in the forthcoming years. Recently, FDA has approved class-wise labelling changes for the entire fluoroquinolone antibiotics product portfolio, in order to strengthen the threats related to the mental health side-effects as well as risks for acute low blood sugar, which is inclusive of hypoglycemic coma.
North America to Showcase Impressive Growth
Growing incidences of outbreak of the animal diseases, high ownership cases of companion animals and excessive livestock products consumption is contributing towards the notable growth of North America animal antibiotics and antimicrobials market. In addition, key players in the region are taking immense efforts in making huge investments for introducing drugs that would cater to the treatment of animal diseases. Nash Pharma, recently introduced two potential compounds, which statistically and substantially improved various diseases related endpoints with regards to ulcerative colitis models compared to the untreated animals. All these factors are expected to prove significantly beneficial for the region’s animal antibiotics and antimicrobials market growth.
New Launches by Key Players
Need for commercial-ready products are witnessed as significantly influencing the manufacturers in animal antibiotics and antimicrobials market. Animal health giants have been striving for outsourcing innovation to the hungry start-ups with the help of collaborations as well, thereby revolutionizing future of the animal health.
Bayer AG: The animal antibiotics and antimicrobials market player recently launched i-COWNT BRD, which is an innovative digital comparison tool benefitting veterinarians in making more informed treatment choices for the bovine respiratory disease. This innovative tool is expected to contribute significantly towards improving treatment outcomes, promoting cattle well-being and health as well as majorly contributes in responsible usage of antibiotic use. This in turn offers lucrative development opportunities for the manufacturers in animal antibiotics and antimicrobials market for the upcoming years, thereby supporting them with expansion of global presence.
Boehringer Ingelheim: The animal antibiotics and antimicrobials market player lately introduced ‘LastMile’ initiative, which is a solution-driven and integrated program that helps in catering to the critical animal health challenges, thereby developing consistent availability of the animal medical resources across the hard-to-reach areas. Most of all, the initiative is mainly targeted towards food-producing animals such as cattle, sheep and goats and is likely to further expand with inclusion of poultry as well. All these factors are expected to create revenue sales growth avenues for animal antibiotics and antimicrobials market.
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Virbac India: The animal antibiotics and antimicrobials market player has recently launched Canitone Tablets and Canitone Jr. for catering to the growing specific nutritional demands of adult dogs as well a pup. Canitone Jr. is highly beneficial for pup’s food that can be consumed in the form of liquids as well. Whereas, Canitone Tablets helps in consumption of Phosphorus and Calcium, thereby supporting in cartilage synthesis. Development of such unique products is expected to expand animal antibiotics and antimicrobials market, thereby elevating the global presence of Virbac across the globe.