The Veterinary Anti-infectives by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Veterinary Anti-infectives, The veterinary anti-infectives market size has grown strongly in recent years. It will grow from $5.09 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to increasing pet ownership, prevalence of infectious diseases, advancements in veterinary medicine, rising awareness, government initiatives.
The veterinary anti-infectives market size is expected to see strong growth in the next few years. It will grow to $8.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to continued pet population growth, emerging zoonotic diseases, globalization of pet trade, increasing veterinary healthcare expenditure. Major trends in the forecast period include technological advancements, increasing adoption of biologicals, integration of telehealth in veterinary services, focus on natural and herbal alternatives, expansion of e-commerce in veterinary pharmaceuticals, collaborations and partnerships.
An increase in pet ownership is expected to propel the growth of the veterinary anti-infectives market going forward. Pet ownership refers to owning a dog, cat, or other domestic pet at home. Pet are being adopted as increasing number of the young population are considering them as part of their family, some owners are adopting them for their compassion, loyalty and the to prevent loneliness. For instance, in February 2023, according to Chewy Inc., a US-based online retailer of pet food and other pet-related products, in 2021, approximately 977,202 pets found homes through adoption in the United States, marking the highest adoption rate in the past six years at 61%. Therefore, an increase in pet ownership is driving the demand for veterinary anti-infectives market.
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The veterinary anti-infectives market covered in this report is segmented –
1) By Drug Class: Antimicrobial Agents, Antiviral Agents, Antifungal Agents, Other Drug Classes
2) By Species Type: Livestock Animals, Companion Animals
3) By Mode Of Administration: Oral, Parenteral, Topical
4) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies, Others Distribution Channels
Technological advancements are a key trend gaining popularity in the veterinary anti-infectives market. Major companies operating in the market are using advanced technologies to sustain their position in the veterinary anti-infectives market. For instance, in February 2021, Elanco Animal Health Incorporated, a US-based pharmaceutical company that manufactures drugs and vaccinations for pets and livestock launched Increxxa, the newly approved drug for livestock respiratory disease. Increxxa with its key ingredient being tulathromycin is delivered to the livestock in injection and targets the lungs’ site of infection swiftly for fast action and a lengthy half-life, providing cattle more time to establish a strong defense. This product is designed for veterinary use and tulathromycin, the active ingredient in Increxxa, helps decrease the negative effects of bovine respiratory disease.
The veterinary anti-infectives market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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