Animal Antimicrobials and Antibiotics Market 2023 - Global Industry Insights, Size and Analysis
The global animal antimicrobials and antibiotics market is growing significantly due to the increasing companion animal ownership, large scale livestock production, and high incidences of animal diseases outbreaks. The increasing demand for pet animals and massive unexplored market in the emerging economies, such as India and China are creating ample opportunities for the growth of the global animal antimicrobials and antibiotics market, at a considerable rate in the coming years. The advanced research and development facilities, and new drug developments by the key players are propelling the demand for effective treatment of animal diseases.
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Geographically, North America leads the global animal antimicrobials and antibiotics market, due to high incidences of animal diseases outbreak, excessive livestock product consumption, high companion animal ownership, and increased awareness for animal diseases outbreaks. In addition, the major players of the animal antimicrobials and antibiotics market in North America are investing huge capital for the development of drugs for animal diseases. Asia-Pacific is the fastest growing region in the global animal antimicrobials and antibiotics market. The fastest growth of the region is attributed to increasing livestock population, growing demand for animal antimicrobials, and high incidences of animal diseases. Moreover, the Asia-Pacific animal antimicrobials and antibiotics market is growing, due to increasing disposable income and companion animal ownership, and increasing government involvement in countering animal diseases outbreaks in the emerging countries, such as India and China.
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Some of the major players operating in the global animal antimicrobials and antibiotics market are Bayer AG, Vibrac, Merck & Co. Inc., Vétoquinol, Ceva, Novartis AG, Boehringer Ingelheim GmbH, Eli Lilly and Company, Sanofi, and Zoetis.