New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Animal Antibiotics and Antimicrobials Global Market Report 2023" - https://www.reportlinker.com/p06317624/?utm_source=GNW
, Kyoritsu Seiyaku, Huvepharma Inc., Zydus, Indian Immunologicals Pvt. Ltd., Bayer Animal Health, Virbac Animal Health, and Phibro Animal Health Corp.
The global animal antibiotics and antimicrobials market grew from $4.68 billion in 2022 to $5.07 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. 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 animal antibiotics and antimicrobials market is expected to grow to $6.95 billion in 2027 at a CAGR of 8.2%.
The animal antibiotics and antimicrobials market consists of sales of glycopeptides, -Lactam antibiotics, and polymixins.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The animal antibiotics and antimicrobials refer to veterinary medications that work against bacteria or microorganisms by either killing bacteria/microorganisms or limiting their development and multiplication. These medications are used in animals to treat clinical diseases, to prevent or control common disease events, and enhance animal growth.
North America was the largest region in the animal antibiotics and antimicrobials market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the animal antibiotics and antimicrobials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of animal antibiotics and antimicrobials include tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, lincosamides, fluoroquinolones, cephalosporins, and other antimicrobials and antibiotics.Tetracyclines are bacteriostatic, and their mechanism of action is through reversible binding of bacterial 30S ribosomes and alteration of bacterial cytoplasmic membrane.
They are also referred to as oral medication used in treatment of bacterial infections due to aerobic, gram-negative bacteria, mycoplasma, and others.These are delivered in different forms including premixes, oral powder, oral solutions, injection, and others.
These medications are used in both companion and food-producing animals.
Rising demand for animal-derived food products is driving the growth of the animal antibiotics and antimicrobials market.Animal-derived food products such as milk, eggs, meat, and other act a major source of nutrition and plays a prominent role in human diet.
The companies/institutions involved in production of animal-derived foods are focusing on developing healthy herd or disease-free herd through utilization of animal antibiotics and antimicrobials on precautionary basis. According to the data published in the Packaged Facts report on Global Meat & Poultry trends, global meat and poultry consumption is expected to reach 313 million metric tons in 2023, at a year-on-year growth rate of 1.4%. Therefore, increasing demand for animal-derived food products is expected to boost demand for animal antibiotics and antimicrobials during forecast period.
Strategic partnership is a key trend gaining popularity in the animal antibiotics and antimicrobials market.The companies operating in animal antibiotics and antimicrobial sector are entering into strategic partnerships with relevant industry players for the research and development of innovative animal antibiotics and antimicrobials.
In May 2022, Gnubiotics Sciences, a Switzerland-based biotech company working to solve microbiome-related health conditions in humans and animals, entered into a partnership with ADM, a US-based developer of human and health nutrition solutions, for commercializing new microbiome solutions for companion animal health and wellbeing.
In August 2020, Elanco, a US-based pharmaceutical company that manufacturers medicines and vaccinations for pets and livestock, acquired Bayer’s animal health business unit for $6.89 billion. With this acquisition, Elanco will improve its research and development pipeline and broaden its range of animal health products. Bayer’s animal health business unit is a Germany-based pharmaceutical and life sciences company.
The countries covered in the animal antibiotics and antimicrobials 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 animal antibiotics and antimicrobials market research report is one of a series of new reports that provides animal antibiotics and antimicrobials market statistics, including animal antibiotics and antimicrobials industry global market size, regional shares, competitors with a animal antibiotics and antimicrobials market share, detailed animal antibiotics and antimicrobials market segments, market trends and opportunities, and any further data you may need to thrive in the animal antibiotics and antimicrobials industry. This animal antibiotics and antimicrobials 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.
Read the full report: https://www.reportlinker.com/p06317624/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
