According to the new market research report 'Animal Antibiotics and Antimicrobials Market by Product', published by MarketsandMarkets, the global Animal Antimicrobials Market is projected to reach USD 5.6 billion by 2026 from USD 4.7 billion in 2021, at a CAGR of 3.6% from 2021 to 2026.
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The animal antibiotics market growth can largely be attributed to the rising demand for animal-derived food products, increasing incidence of zoonotic diseases, and the implementation of regulations to prevent the spread of animal diseases.
Rising animal healthcare spending and the growing demand for pet insurance are further expected to drive the growth of this market.
The untapped emerging markets such as China, India, and Brazil and growth in the overall companion animal population are also expected to offer significant growth opportunities to market players in the coming years.
However, the limited number of new antibiotics, growing resistance to antimicrobials and antibiotics, and increasing good husbandry and hygiene practices are expected to hinder the growth of this market to a certain extent.
Based on products, the global animal antimicrobials and antibiotics market is segmented into tetracyclines, penicillins, sulfonamides, macrolides, aminoglycosides, lincosamides, fluoroquinolones, cephalosporins, and other antimicrobial and antibiotic products.
In 2020, the tetracyclines segment accounted for 48.9% of the global animal antimicrobials market.
Tetracyclines exhibit advantages such as the highest potency against pathogenic microorganisms, are well-absorbed, show low toxicity, and are relatively inexpensive compared to other animal antimicrobial and antibiotic products.
These advantages contribute to the large share of this product segment.
The fluoroquinolones segment is expected to grow at the highest CAGR of 8.0% during the forecast period.
Advantages such as higher efficacy at low concentrations, quick penetration through tissues, and the availability of variations in the route of administration result in the higher adoption of fluoroquinolones among end users.
Based on the mode of delivery, the global animal antimicrobials and antibiotics market is segmented into premixes, oral powders, oral solutions, injections, and other modes of delivery.
In 2020, the premixes segment accounted for the largest share of 46.3% of the global animal antibiotics market.
The large share of this segment can be attributed to the advantages of premixes, such as simplified mode of administration and lower instability and hygroscopicity of formulations.
The injections segment is expected to witness the highest CAGR of 4.9% during the forecast period. Advantages such as immediate delivery of drugs and rapid onset of drug effects are expected to drive growth in this market.
Based on animal type, the global animal antimicrobials and antibiotics market is categorized into food-producing animals and companion animals.
In 2020, the food-producing animals segment accounted for the largest share of around 73.4%.
This segment is also expected to register the highest CAGR of 3.9% during the forecast period.
The large share of this segment is mainly due to the rising demand for animal-derived food products, increase in animal healthcare expenditure, and greater concerns about zoonotic diseases.
The animal antimicrobials and antibiotics market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
In 2020, North America accounted for the largest share of 30.3% of the global animal antimicrobials market.
The large share of this region is mainly due to the increase in the region's animal population, rising demand for animal-derived food products, growth in pet insurance, and rising animal health expenditure compared to other regions.
The Asia Pacific region is projected to grow at the highest CAGR of 5.4% during the forecast period.
Factors such as the rapidly increasing animal population and rising demand for animal-derived food products are driving the growth of this market in the APAC.