Farm Animal Drugs Market to Reach US$ 23 Justin Simmons Jeysey ,150 Mn by 2027
by factmr · December 11, 2018
The market will continue to be influenced by a slew of macro- and micro-economic factors. Demand for contamination-free meat and proteins and alliances between producers and meat companies will continue to offer growth opportunities.
North America Farm Animal Drugs Market
In North America, the U.S. will continue to be account for the leading revenue share. In 2017, the revenue share of the U.S. is anticipated to reach 58%; however, during the forecast period Jake Butt Jeysey , it will lose slight market share to Canada. Demand for farm animal drugs in North America will continue to be influenced by growing consumption of fresh meat and regulation by the FDA to limit use of antibiotics on farm animals. FMI projects the North America farm animal drugs market to grow at 7% CAGR during the forecast period 2017-2027.
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By product type, anti-infective drugs and parasiticides (endo-parasiticides, ecto-parasiticides, and endectocides). Anti-infectives are not only the largest but also the fastest-growing segment product type segment. By 2027, the anti-infective product type segment is projected to grow at nearly 9% CAGR. By animal type, poultry is the largest segment in North America Garett Bolles Jeysey , whereas ruminants and swine hold significant revenue share.
FMI also offers market forecast and analysis on the basis of route of administration. The oral route of administering drugs remains the most prominent in North America, with revenues projected to grow at over 7% CAGR. The parenteral drug segment, on the other hand, is anticipated to grow at nearly 9% CAGR through 2027.
By distribution channel, veterinary hospitals are the largest segment in North America, accounting for nearly US$ 2 billion in revenues in 2017. This segment is projected to grow at nearly 8% through 2027.
Western Europe Farm Animal Drugs Market
U.K. remains the largest market for farm animal drugs in Western Europe. The country accounts for over 40% revenue share of the market. FMI projects U.K. to remain the largest market for farm animal drugs in Western Europe throughout the forecast period. Germany and France are the other leading markets for farm animal drugs in Western Europe. Overall Courtland Sutton Jeysey , the Western Europe farm animal drugs market is projected to reach US$ 2.83 billion revenues in 2027.
The key factors fuelling demand for farm animal drugs in Western Europe include focus on preventive measures against zoonotic diseases. Use of certain drugs for pain management is also a growing opportunity for manufacturers. As is the case in North America, the anti-infective product type segment is projected to grow at over 6% CAGR through 2027.
In addition to North America and Western Europe, the report also offers market forecast and analysis on Asia Pacific excluding Japan, Middle East & Africa, Latin America, and Japan.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
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