NEW YORK, Aug. 28, 2017 /PRNewswire/ -- Europe and Asia Pacific are growing regions in this market, but North America is the most lucrative among the other regions. This can be attributed to an increase in pet ownership and soaring demand for improved nutrition, especially animal protein. Widened focus on food safety also contributes to the higher demand. Another trend that is followed in North America is pet insurance. Currently less than one percent of pets are covered by insurance, however the enrollment is growing at 10% per year in the United States. The United States market is the largest in North America, expected to represent more than 75% share during the forecast period with a 3.6% CAGR likely to be registered during 2017 to 2025. Canada is projected to exhibit a 4% CAGR during the forecasted period. By 2025, the North America region is expected to reach a value share of more than US$ 1500 Mn.
APAC expected to show higher growth during the forecasted period
The fast growth in the Asia Pacific (APAC) region can be attributed to trends such as promotion of small animal care, the livestock segment fueling the market for veterinary therapeutics, and key players focusing on distribution partnerships in India. China is the largest contributor in the Asia Pacific region and is expected to represent a market value of a little more than US$ 240 Mn in 2017 and this number is expected to increase to about US$ 368 Mn by 2025. The CAGR of China over the forecasted period is 5.4%. Following China, Japan is the second biggest market for veterinary anti-infectives and India takes the third position.
Global Veterinary Anti-Infectives Market Forecast by Drug Class
In the drug class segment, the antimicrobial agents sub-segment is estimated to account for over 50% market value share during the forecast period and will witness a CAGR of 4.4%. The antimicrobial agents segment is the largest segment in the global market followed by antiviral agents. Within the antimicrobial agents category, Penicillins, Cephalosporins and Tetracyclines account for a higher growth rate. The antimicrobial agents segment dominated the global veterinary anti-infectives market in terms of revenue in 2016, and it is expected that this trend will continue throughout the forecast period. The antiviral agents segment is expected to be the second most lucrative segment by drug class in the global veterinary anti-infectives market, recording a market attractiveness index of 1.2 during the period of assessment.
Potential opportunities for the veterinary anti-infectives market over the assessment period
Biologics and specialty care offer huge opportunities for key players to invest in the global veterinary anti-infectives market. The low research and development returns in the past led to an aging product portfolio. This initiates a demand for NPD (New Product Development). Improvisation in research and development and product innovation in areas such as biologics and specialty care provide a huge array of opportunities for this market. Moreover, growing affordability of therapeutics and an increasing consumer awareness for pet care and livestock offer significant growth opportunities for the veterinary anti-infectives market, especially to new market entrants. Trends such as shift in distribution channels, rise in pet insurance, and entry of leading key players launching competing branded products for animal health and entering the generic drugs space are a major facet in this market contributing to its overall attractiveness. The global veterinary anti-infectives market reflected a value of US$ 3,650 Mn in 2016 and is expected to register a CAGR of 4.1% in terms of value to reach a market valuation in excess of US$ 5,200 Mn by the close of 2025.
Valuable insights are essential to plan the next moves
This report on the veterinary anti-infectives market is a comprehensive market research study that focuses on the global scenario and provides actionable insights on various aspects influencing the market with the help of strong data and statistical analyses, and delivers an unbiased view of the market by including segments such as species type, drug class, distribution channel and mode of administration across the geographies of North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA). The gathered data helps in catching the exact rhythm of the market by putting forth a logical format and a deep data mining ensures receipt of all-inclusive information from various sources in the market. The global research report on the veterinary anti-infectives market has a predefined purpose; and all the figures, statistics, graphs etc., are based on a perfect, clear market definition. This will enable the reader to take informed decisions with the help of well-furnished insights by the research analysts and domain experts.
A number of trends, developments, growth fueling factors as well as challenges coexisting in the market are elaborated. An unbiased view of the market helps in calculating the next steps and gives a realistic market scenario considering and exploring all the angles.
For this purpose, we use a strong approach towards research and data gathering and follows a robust research methodology. Leveraging secondary research to gauge the overall market dimensions and the main players involved is just one aspect. Additionally and more importantly, an extensive primary research is carried out and opinions from the key industry experts are obtained. These aspects are coupled to carry out data triangulation and achieve maximum accuracy. The research process includes profiling of the market, identifying and listing respondents, preparing a detailed conversation guide based on overall market understanding, collection of data points, validating the data and analyzing it and providing meaningful insights. The data so gathered undergoes re-evaluation and re-validation to remove any deviations or possible errors. This proves the credibility of the research quality.
The research report on veterinary anti-infectives market covers all the macroeconomic factors, supply chain analysis, regulatory scenario, SWOT analysis, Porter's Five Forces model as well as PESTEL analysis, which rule the global market, thereby gaining influence over the entire sector. The research report covers competitive landscape, which covers the market share, revenue, growth strategies applied, mergers and acquisitions, product portfolio analysis, distribution channels, expansion in several geographies, marketing strategies, etc., of the various key players in the veterinary anti-infectives market. The end user analysis is also available in the report that gives an overview of the end users, their behavior and adoption rate. Such an intelligence framework can be used to make informed decisions and devise appropriate strategies to gain competitive advantage.
The veterinary anti-infectives market research report has a detailed five level segmentation based on which several inferences can be drawn regarding market growth, regional impact, sub segment analysis, etc.
Asia Pacific (APAC)
Middle East and Africa (MEA)
By Species Type
By Drug Class
By Mode of Administration
By Distribution Channel
How can this report help you?
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: [email protected]
Intl: +1 339-368-6001