Visiongain Publishes Animal Antibiotics & Antimicrobial Market Report to 2031
01 March 2021
Visiongain has published a new report on Animal Antibiotics & Antimicrobial Market Report to 2031: Forecasts by Product Type (Penicillins, Tetracyclines, Macrolides, Aminoglycosides, Sulfanomides, Fluroquinolones, Lincosamides, Cephalosporins, Others), By Mode of Administration (Premixes, Oral Powders, Oral Solutions, Injections, Others), By Animal Class (Bovine, Swine, Poultry, Ovies Aries, Equine, Canine, Feline, Others) PLUS Profiles of Leading Almond Protein Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios
Global Animal Antibiotics and Antimicrobial Market was valued at US$ 4344.3 million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Growing demand for animal based food products is one of the key factors supporting market growth of animal antibiotics and antimicrobial market.
COVID-19 Impact on Animal Antibiotics and Antimicrobial Market
The healthcare industry is one of the few industries least affected by the coronavirus pandemic, although a moderate slowdown has been noted. This is mainly due to the overwhelming situation of the COVID-19 pandemic, and hospitals flooding with coronavirus infected patients. Available doctors are tending to patients, infected with coronavirus. Consequently, demand for medicines and devices that are being used to treat coronavirus has skyrocketed. Allied sectors in the healthcare industry witnessed a slow growth till the time new strategies came into action. For, instance, the veterinary practitioners have come with a strategy of asking clients to wait in their cars during animal examination and treatment. Tracking medical records of the animals virtually, contactless payments, and drive-thru pick and drop facilities have been implemented by the veterinary practitioners that have become an instant hit. More than 30% of the veterinary practices are done through telemedicine, while approximately 20% veterinary practitioners are handling emergency cases. On the pharmaceutical front, pharmacies were and is allowed to operate 24*7 during the pandemic, to ensure uninterrupted supply of medicines. However, decline in demand for less than necessary medicines disrupted the supply chain, creating a slight gap in the demand and supply.
Growing Pet Adoption
The rising trend of pet adoption is one of the major factors driving market growth of animal antibiotics and antimicrobials. Pet ownership in the U.S. has always marinated a growth trajectory. This is because of the higher presence of nuclear families in the country, and also due to the continuing trend of living alone. Parents often do not live their kids after reaching a certain point in their lives. This is when they begin adopting companion animals, to get rid of loneliness. Further, the COVID-19 pandemic is expected augment pet ownership, since majority of the population is now isolated, and staying at home. Further, they are also aware about the physical and mental benefits of owning a pet. Further, population aging 18-24 years has emerged as the newest pet parents, thereby further supporting the trend of pet ownership. Growth in pet adoption in the U.S. is also supporting market growth of pet products such as pet food, pet accessories, medications, insurance, etc. Pet owners are becoming more educated about how to keep their pets healthy, and the importance of pet insurance. According to The North American Pet Health Insurance Association (NAPHIA), the gross written premium of the pet health insurance sector in U.S. and Canada amounted to US$ 1.42 billion in 2018, and the number is slated to reach higher in the coming years. The growing demand for pet insurance is a major factor supporting market growth of animal antibiotics and antimicrobial market in the U.S.
Growing Meat Consumption
Meat consumption is another factor supporting market growth of animal antibiotics and antimicrobial market. The U.S., Australia, Argentina, China, Russia and the EU are the major consumers of meat products, with per capita ranging between 60-70 kilograms per year. Per capita beef consumption in the U.S. stood at 58 kilograms in 2019, while per capita pork consumption in the country stood at 51.6 kilograms in the same year. Meat in the U.S. is mainly consumed through fast food channels such as QSR’s. Close to 40% of Americans consumed fast food on a regular basis in 2019. Common fast food meal purchased was lunch, followed by dinner and breakfast. Most of the fast foods consumed by the Americans consist of meat products such as pork and beef among others. This factor is greatly supporting market growth of animal antibiotics and antimicrobial in the country. Further, in emerging nations such as India, meat consumption is increasing steadily. Poultry meat consumption stood at 3819.2 thousand metric tons in 2019, up from 3,700.4 thousand metric tons from the previous year. Growing consumption of meat has also come with the growing awareness about the spread of animal diseases, which in turn is driving market growth of animal antibiotics and antimicrobial in major countries.
Shifting Preference Towards Vegan Diet
Growing concerns about obesity and cardiovascular diseases associated with them, has sparked a concern among consumers, especially in nations such as the U.S., Canada, Germany, France and U.K. among others. Consumers in these countries are becoming conscious about the health issues associated with consumption of red meat. This concern has led the consumers to change their feeding habits, with an inclination towards vegan items. Consumption of beef & pork is linked to health complications such as cardiovascular diseases and diabetes among others. Due to this, a certain of the population in these countries can be seen drifting away from meat products, and switching to a vegan diet. This factor is expected to continue hindering the market growth animal antibiotics and antimicrobial in these countries.
Some of the companies profiled in the report include Zoetis Inc., Eli Lilly & Company, Merck Group, Bayer AG, and Sanofi SA among others. These companies are involved in several organic and inorganic strategies in order to ensure long term sustenance in the Animal Antibiotics and Antimicrobial Market. For instance, in March 2019, Boehringer Ingelheim and Novozymes announced a collaboration in probiotics for poultry hatcheries in order to develop and sell probiotics for poultry production across the globe.
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