Anticoccidial Drugs Market Size To Hike At 3.61% CAGR Between 2020 to 2025
Anticoccidial Drugs Market Size
As per the report published by Market Data Forecast, the size of the global anticoccidial drugs market is forecasted to be growing at a CAGR of 3.61% between 2020 to 2025 and worth USD 1511 million by 2025.
Key Market Drivers:
The growing prevalence of the development of new drugs for animals is propelling the growth rate of the market. Increasing incidences of the various infectious diseases and a rise in the demand from pet owners to improve the quality of the drugs are likely to bolster the growth rate of the market. Prevalence for the organized farming and increasing demand for poultry foods are greatly evaluating the growth rate of the anticoccidial drugs market. Government initiatives to improve veterinary medicines are also surging the demand of the market globally. Huge investments in the development of vaccines by popular companies in various countries are additionally anticipated to propel the demand of the market to the extent. Creating awareness through campaigns, even in undeveloped countries, is ascribed to bolster the growth rate of this market. The adoption of prevention and wellness techniques by veterinarians is enhancing the market demand eventually.
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However, fluctuations in the availability of raw materials and the increasing cost of these products are slowly hindering the growth rate of the market. Also, lack of standardization and dearth in the availability of skilled professionals in the laboratories to develop effective vaccines or drugs impedes the demand of anticoccidial drugs market.
COVID-19 Impact on global anticoccidial drugs market:
Due to COVID 19 pandemic, the growth curve has flattened in the first half of 2020. The lockdown restrictions and ban on international flights showed a negative impact on the shares of the market. However, increasing clinical trials in developing drugs or vaccines for the animals to avoid infections is surging the growth rate of this market to the extent. Also, key strategies and growing awareness in following social distancing and wearing masks among market players are deemed to escalate the demand of the anticoccidial drugs market in 2021. The spread of coronavirus from humans to animals in some countries is also enhancing the growth rate of the market during these tough times.
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This research report on the global anticoccidial drugs market has been segmented and sub-segmented based on the drug type, animal type and region.
By Drug Type:
- Antibiotic Anticoccidials
- Ionophore Anticoccidials
- Chemical Derivative Anticoccidials
By Animal Type:
- Companion Animal
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
North America is the one leading with the dominant shares of the market. Increasing pet ownership and the rising number of chronic illness among animals are likely to bolster the growth rate of the market in this region. In addition, escalating expenditure on veterinary healthcare and growing disposable income in urban areas are leveling up the demand of the market. The US is holding with the largest shares of the market, where Mexico and Canada are following the US in ruling the market shares. Europe is representing the second-largest shares in the market. Increasing the economy and growing investments in veterinary healthcare services are expanding the demand of the anticoccidial drugs market. Also, the increasing prevalence of meat consumption is leveraging the growth rate of the market in this region.
The Asia Pacific is witnessed in having the highest shares of the market with the rising awareness to maintain a healthy diet by taking meat proteins. India and China are the major countries contributing to the largest shares.
TOP COMPANIES IN THIS MARKET
Companies that are playing a promising role in the global anticoccidial drugs market analyzed in this report are Bayer Health care, Zoetis, Elanco, Merial, Merck Animal Healthcare, Ceva Santé Animale, Virbac, Boehringer Ingelheim Animal Health, Novartis Animal Healthcare and Smartvet Inc.
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List of Tables and Figures of the report:
- Global Anticoccidials Drugs Market By Region, From 2020 to 2025 (USD Million)
- Global Anticoccidials Drugs Market By Drug Type, From 2020 to 2025 (USD Million)
- Global Antibiotic anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Ionophore anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Chemical derivative anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Anticoccidials Drugs Market By Animal Type, From 2020 to 2025 (USD Million)
- Global Poultry anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Swine anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Fish anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Cattle anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- Global Companion Animal anticoccidials Market By Region, From 2020 to 2025 (USD Million)
- 90+ More
Browse Regional Reports:
- North America Anticoccidials Drugs Market
- Europe Anticoccidials Drugs Market
- Asia Pacific Anticoccidials Drugs Market
- Latin America Anticoccidials Drugs Market
- Middle East and Africa Anticoccidials Drugs Market
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