Increasing Efforts toward Preventing and Treating Life-Threatening Animal Diseases Acting as Catalyst for Veterinary Anti-infective Market Growth
Rockville, MD., July 05, 2024 (GLOBE NEWSWIRE) — According to a new industry report released by Fact.MR, the global Veterinary Anti-Infective Market is estimated at US$ 5.03 billion in 2024 and is forecasted to reach US$ 7.47 billion by the end of 2034, with a compound annual growth rate (CAGR) of 4% from 2024 to 2034.
Anti-infectives are medications that help prevent the spread or transmission of diseases. Moreover, veterinary anti-infectives are healthcare products that prevent or treat the spread of infectious diseases between humans and animals.
Growing emphasis on the prevention and treatment of fatal animal diseases are key market indicators for veterinary antibiotics. The veterinary anti-infective market is expanding at a moderate pace due to several factors, including the rising prevalence of foodborne and zoonotic illnesses, the popularity of pets, and the expansion of animal healthcare research and development.
Increasing concerns about pet health and the rising incidence of bacterial infections, especially in dogs, along with an increase in pet adoption are expected to contribute to the steady demand growth for veterinary anti-infective solution.
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Key Takeaways from Veterinary Anti-Infective Market Study:
- The market is forecasted to reach US$ 7.47 billion by the end of 2034.
- The market in the United States is set to reach a value of US$ 1.17 billion in 2024.
- Brazil is estimated to account for 48.8% share of the Latin America market in 2024.
- Revenue from the sales of veterinary anti-infectives in Chile is poised to reach US$ 183 million in 2024.
- The market in Latin America is forecasted to expand at a CAGR of 4.4% from 2024 to 2034.
“Rise in foodborne infections, often originating from animals, is posing a threat to human health. This is a significant driver boosting demand for veterinary anti-infective medications,” says a Fact.MR analyst.
Veterinary Anti-infective Industry News:
The Food and Agriculture Organization of the United Nations (FAO), the United Nations Environment Programme (UNEP), the World Health Organization (WHO), and the World Organization for Animal Health (WOAH), collectively known as the Quadripartite, introduced the Antimicrobial Resistance Multi-Stakeholder Partnership Platform in November 2022. This project aims to raise awareness of the threat that antimicrobial resistance (AMR) poses to humans, animals, plants, ecosystems, and livelihoods, in addition to ensuring that the repercussions of AMR are addressed internationally.
- Elanco Animal Health Incorporated, a pharmaceutical firm based in the United States that manufactures vaccines and treatments for pets and livestock, released Increxxa, the recently approved drug for cattle respiratory disease, in February 2021.
- Cattle are given injections of tularathromycin, the active ingredient of Increxxa, to rapidly reach the lung infection location. The cattle have more time to develop a strong defense because of its quick action and lengthy half-life. Tulathromycin, the active ingredient in Increxxa, which is meant for veterinary usage, helps minimize the negative effects of bovine respiratory illness.
Increasing Government Efforts Promoting Veterinary Health Services in Hospitals and Clinics
The growth of the market for veterinary anti-infectives is driven by stricter regulations enacted to prevent animal diseases and increased awareness of veterinary healthcare. Government initiatives to encourage veterinary services in hospitals and clinics are driving market growth.
Rising demand for premium meat in the United States means that diseases are effectively avoided in cattle and treated when they do occur. With consumers growing more health conscious, it is imperative to ensure the welfare of farm animals. To maintain animal health and food safety, veterinary anti-infectives are crucial.
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Leading Players Driving Innovation in the Veterinary Anti-infective Market:
Key industry participants like Neogen Corporation; Phibro Animal Health Corporation; Sanofi (Merial Animal Health); Vetoquinol S.A.; Virbac S.A.; Zoetis, Inc.; Boehringer Ingelheim GmbH; Ceva Santé Animale; Indian Immunologicals Limited; Intas Pharmaceuticals Limited; Norbrook Laboratories Limited; Ashish Life Science Private; Zydus Animal Health Limited., etc. are driving the veterinary anti-infective industry.
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the veterinary anti-infective market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the veterinary anti-infective market based on species (livestock animals, companion animals), drug class (antimicrobial agents, antiviral agents, antifungal agents, antiparasitic agents), mode of administration (oral, parenteral, topical), and distribution channel (veterinary hospitals, veterinary clinics, pharmacies), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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