Global Animal Antimicrobials and Antibiotics Market: Overview
The growth of the global animal antimicrobials and antibiotics market is likely to be influenced by the rising cases of zoonotic diseases, such as SARS-CoV-2 induced Covid-19, worldwide. In addition, rising demand for animal-derived food items, pet insurance, and implementation of rules pertaining to the prevention of animal disease spread are expected to augur well for the market. There has been an increased spending on animal health in the recent years, which is expected to drive demand for the animal antimicrobials and antibiotics in the near future. However, shortage of new antibiotics coupled with increasing resistance to antibiotics and antimicrobials is expected to hinder growth of the market over the period of assessment, from 2020 to 2030.
Product, mode of delivery, animal, and region are the four significant market parameters based on which the global animal antimicrobials and antibiotics market has been categorized.
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Global Animal Antimicrobials and Antibiotics Market: Notable Developments
The global animal antibiotics and antimicrobials market is marked with the presence of several players, which has resulted in intense competition between them. In a bid to stay ahead of the competitors, leading players are engaging in strategic moves like acquisition, mergers, and partnerships to increase their market share and revenue.
Global Animal Antimicrobials and Antibiotics Market: Key Trends
The global animal antimicrobials and antibiotics market is characterized by the presence of the following restraints, drivers, and opportunities.
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Soaring Demand for Livestock Products and Concern for Animal Health to Boost Demand
The development of the global animal antimicrobials and antibiotics market is likely to observe growth in the burgeoning demand for livestock products. Amino glycosides, sulphonamides, cephalosporin, penicillin, quinolones, tetracycline, and macrolides are some of the different types of animal antimicrobials and antibiotics. Of these, tetracycline act as an important component in the making of an antibiotic exhibits high demand from end users. Another raw material that has witnessed high demand is penicillin, thanks to the growing prominence of penicillin-based antibiotics. Furthermore, a rise in the activities concerning improvement of animal health is expected to benefit overall development of the global animal antimicrobials and antibiotics market.
Global Animal Antimicrobials and Antibiotics Market: Geographical Analysis
North America is estimated to come up as one of the dominant regions, thanks to high disposable income in the region and rising demand for high quality animal based products. Furthermore, technological progress made in the sector is expected to put North America at the forefront of the market growth.
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