LONDON, Nov. 02, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the veterinary antibiotics market, the market is segmented by product into anti-parasitics, anti-bacterials, and others. The anti-parasitics market was the largest segment of the veterinary antibiotics market segmented by product, accounting for 62.0% of the total in 2020 and is expected to be the fastest growing segment going forward, at a CAGR of 16.1% during 2020-2025.
The anti-parasitics market consists of sales of veterinary anti-parasitic drugs and related services by entities that manufacture veterinary anti-parasitic drugs. Veterinary anti-parasitic drugs are used to kill parasites in animals. These drugs are administered orally in pills, tablets, feed additives, or injected. Examples of veterinary anti-parasitic drugs include Rumatel (morantel tartrate), Panacur (fenbendazole), and Mintezol (thiabendazole).
Companies in the veterinary antibiotics market are increasingly offering combination parasiticides which help better combat the common intestinal heartworms and fleas. The combination of certain compounds and targeted medicines which help control parasites before these organisms cause serious harm to animals. The increased efficiency and effectiveness of these products induce companies to invest in and manufacture combination parasiticides. For instance, in January 2021, German pharma company, Boehringer Ingelheim received an approval from the EMA (European Medicine Agency) for its NexGard COMBO which includes a combination of esafoxolaner – the newly developed form of afoxolaner - combined with eprinomectin and praziquantel. The topical parasiticide kills a wider range of parasites in cats including external parasites such as fleas and ticks as well as internal parasites, including tapeworms.
The Business Research Company’s report titled Veterinary Antibiotics Global Market Report 2021 - By Product (Anti-Parasitic, Anti-Bacterial, Non-Steroidal Anti-Inflammatory Drug), By End User (Farm Animals, Companion Animals), By Administration (Premixes, Injections, Oral Powders, Oral Solutions), COVID-19 Impact And Recovery covers major veterinary antibiotics companies, veterinary antibiotics market share by company, veterinary antibiotics manufacturers, veterinary antibiotics market size, and veterinary antibiotics market forecasts. The report also covers the global veterinary antibiotics market and its segments.
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The veterinary antibiotics market is also segmented by end user into livestock and companion animals, and by route of administration into oral and others.
The global veterinary antibiotics market is fairly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 26.24% of the total market in 2020. Major players in the market include Boehringer Ingelheim GmbH, Zoetis Inc., Merck & Co., Inc., Elanco Animal Health Incorporated, and Ceva Santé Animale.
The global veterinary antibiotics market size is expected to grow from $1.12 billion in 2020 to $1.22 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.53 billion in 2025 at a CAGR of 5.8%.
North America was the largest region in the global veterinary antibiotics market, accounting for 45.8% of the total in 2020. It was followed by Asia Pacific, Western Europe, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the veterinary antibiotics market will be Africa and Eastern Europe where growth will be at CAGRs of 22.98% and 20.59% respectively. These will be followed by South America, Asia Pacific where the markets are expected to grow at CAGRs of 20.58% and 20.09% respectively, during 2020-2025.
Veterinary Antibiotics Global Market Report 2021 – COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provide veterinary antibiotics market overviews, veterinary antibiotics market analyze and forecast market size and growth for the whole market, veterinary antibiotics market segments and geographies, veterinary antibiotics market trends, veterinary antibiotics market drivers, veterinary antibiotics market restraints, veterinary antibiotics market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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