The global Veterinary Anti-Infective Market reached a value of $6.68 billion in 2022 and is projected to attain $11.09 billion by 2032, with a rapid compound annual growth rate (CAGR) of 5.8% expected during the forecast period. Key drivers of this revenue surge include the growing prevalence of zoonotic diseases, heightened demand for animal-related products, the rising trend of pet ownership, and increased spending on veterinary care.
In recent years, there has been an uptick in the occurrence of zoonotic diseases such as rabies, swine flu, and avian influenza. This has amplified the necessity for veterinary anti-infective medications to prevent and treat these diseases in animals, as they can potentially transmit these illnesses to humans.
Furthermore, the increasing appetite for animal-derived products like milk, meat, and eggs is a pivotal factor propelling market revenue growth. The growing demand for animal protein, driven by population growth and shifting dietary preferences, underscores the heightened need for Animal Health products. Antibiotics and various anti-infective treatments have become essential in livestock farming to prevent disease transmission and uphold the well-being of animals.
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Competitive Landscape:
Some major companies included in the global veterinary anti infective market report are:
- Zoetis
- Merck Animal Health
- Eli Lilly and Company
- Bayer AG
- Boehringer Ingelheim
- Virbac
- Ceva Santé Animale
- Vetoquinol SA
- Norbrook Laboratories Limited
- IDT Biologika
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Driving Factors of the Veterinary Anti-Infective Market:
- Increasing Prevalence of Zoonotic Diseases: The rising incidence of zoonotic diseases, which can be transmitted from animals to humans, necessitates the use of veterinary anti-infective medications for disease prevention and control.
- Growing Demand for Animal Products: Escalating consumer demand for animal-derived products such as meat, milk, and eggs fuels the need for maintaining the health of livestock through anti-infective treatments.
- Changing Dietary Habits: Shifts in dietary preferences, with a greater focus on animal protein consumption, drive the demand for veterinary anti-infective products to ensure the well-being of animals in the food supply chain.
- Pet Ownership Trends: The increasing trend of pet ownership leads to higher spending on veterinary care, including the use of anti-infective medications for the treatment and prevention of diseases in companion animals.
- Population Growth: The expanding global population contributes to the need for efficient animal farming practices and disease control to meet the growing demand for food and agricultural products.
Restraints of the Veterinary Anti-Infective Market:
- Antibiotic Resistance Concerns: The overuse and misuse of antibiotics in animal healthcare can lead to antibiotic resistance, posing a significant threat to both animal and human health. Regulatory measures restrict the use of certain antibiotics in animal agriculture.
- Stringent Regulatory Guidelines: Evolving regulatory requirements and guidelines related to the use of veterinary anti-infective products can increase compliance costs and create challenges for market players.
- Environmental Concerns: The environmental impact of pharmaceutical residues from veterinary anti-infective products in soil and water systems is a growing concern, leading to environmental regulations and scrutiny.
- Alternative Treatment Modalities: Increasing interest in alternative and holistic approaches to animal health and disease prevention may reduce the reliance on traditional veterinary anti-infective medications.
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