Anticoccidial Drugs Market Size and Growth Rate:
The market is expected to reach USD 1,511 million by 2024, registering at a CAGR of 3.61% during the forecast period.
Anticoccidial Drugs Market Overview:
Anticoccidial drugs are the medications given to the animals to treat coccidiosis. This disease is an infection occurred in the intestinal tract of animals. Anticoccidial drugs have become very important aspect in veterinary hospitals to prevent spread of diseases and also to reduce death of animals due to effects of coccidiosis.
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Anticoccidial Drugs Market Growth Drivers and Restraints:
Increasing prevalence for the production of quality poultry products globally is key driving factor propelling the demand of the market. Rise in the care towards animals is also one of the factors driving the growth of the market. Growing livestock population and rise in the expenditure on animal healthcare are greatly influencing the demand of the anticoccidial drugs market.
However, lack of skilled persons in manufacturing effective drugs with latest technology is slowly limiting the demand of the market. Availability of alternate treatment methods at low cost comparatively is remained as challenging factor for the market growth.
Rise in the investments by government on pharmaceutical industries is to set up growth opportunities for the market. Increasing concern to lead healthy lifestyle by maintaining proper diet is leveling up the growth of the market. Furthermore, the market is fueled by growing incidences of various health disorders in animals. Increasing support from the pharmaceutical industries in manufacturing the drugs according to the requirement is leveraging the growth of anticoccidial drugs market.
Anticoccidial Drugs Market Geographical Analysis:
Geographically, the market is segmented into North America, Asia Pacific, Europe, Middle East and Africa. North America is accounted in holding highest shares of the market by owing to increasing consumption rate of meat production and poultry products like eggs and others. Following North America, Asia Pacific is ruling with largest shares of the market. Increasing pet lovers and rise in the demand to have effective treatment in veterinary hospitals is boosting up the growth of the market. Europe is to grow at faster rate in coming years with the increasing economy in most of the countries. Middle East and Africa is witnessed in slow growth rate from past few years but it is expected to have slight inclined growth rate in foreseen years.
Key Players of the Anticoccidial Drugs Market:
Elanco, Novartis Animal Health, Merck Animal Health, Bayer Animal Heath, Boehringer Ingelheim, Ceva Santé Animale, Merial, Virbac S.A., and Zoetis are some of the major players in the anticoccidial drugs market.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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