Animal Pharmaceuticals Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies

The animal pharmaceuticals industry has garnered $40.07 billion in 2021, and it is expected to rise at the rate of 6.8% from 2021 to 2030, to generate $72.74 billion in 2030. It is attributed to the increasing consumption of milk and meat, surging pet adoption trend, and rising incidence of chronic and zoonotic diseases.

Under the product segment, the anti-infectives category has captured a 35% industry share in 2021, led by the surging prevalence of bacterial infections in production and companion animals.

Moreover, the owners of animals are required to abide by the prevalent veterinary health standards, led by the growing demand for dairy products, including meat and animal-based nutritional supplements, that boost the application of anti-infectives on animals.

Furthermore, the availability of anti-bacterial drugs for animals, including tetracyclines, macrolides, quinolones, cephalosporins, sulphonamides, polymyxins, and macrolides propel the industry.

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APAC is projected to rise to experience faster growth, at the rate of 8.2% in the coming years, led by growing expenses on animal health, and surging cattle population in the region.

In addition, the shifting lifestyles in developing countries, such as India and China, propels the production animal adoption. It would result in an expansion of the industry in the coming years. The improving life standards in these nations, are projected to proliferate the industry.

The major players operating in the industry are; Merck & Co. Inc., Boehringer Ingelheim International GmbH, Virbac, Elanco, Bimeda Inc., Laboratories Calier S.A., and Prodivet Pharmaceuticals sa/nv.

Therefore, the industry is projected to rise due to surging demand for meat and other animal-derived nutritional products.