London, 28 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global animal antimicrobials and antibiotics market 2015-2019, which is expected to grow at a CAGR of 5.25% during the forecast period of 2014-2019.
Market growth is facilitated by advancements made in the field of veterinary therapeutics, preventive medicines, and an increase in disposable income. The recent increase in animal ownership is also a factor that leads to an increased demand for animal health products such as antibiotics and antimicrobials. Also, the recognition of pets as family members by their owners has diverted the focus towards better health services for their animals.
“The market is witnessing an increase in investments by various government and non-government organizations such as animal welfare associations,” says Faisal Ghaus, Vice President of Technavio.
“Increased investments, especially in the underdeveloped markets of Asia and Africa, are expected to double the growth rate of the market in these regions. Key players in the current market are increasing their focus on emerging markets to generate revenue from these untapped markets.”
Key Market Drivers:
- Demand for Protein-rich Diet.
- Increase in Incidence and Prevalence of Zoonotic Diseases.
- Focus on Food Safety.
- Increase in Animal Ownership.
Key Market Trends:
- Increase in M&A.
- Industry-Academia Collaborations.
- Increase in Investments.
Key Market Vendors:
- Bayer AG
- Elanco
- Merck Animal Health
- Merial
- Zoetis Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
