Hyderabad, India (PressExposure) May 14, 2015 -- The Global Anticoccidial Drugs Market is expected to reach $2,433 million by the end of 2020 growing at a CAGR of around 3.9% from 2014 to 2020.
The Global Anticoccidial Drugs Market is segmented Coccidiosis in Poultry, Coccidiosis in Cattle, Coccidiosis in Swine, Coccidiosis in companion animals, Anticoccidials market by types of drugs, Regional Analysis of anticoccidial market and segmentation of drugs according the type of animal.
North America and the European Union are the leaders in global pet care. The most lucrative segments of the pet care industry are the pet health care and pet food markets. Health and wellness solutions are gaining pace across the industry, with opportunities for manufacturers with the research and development budget, products innovation and marketing to exploit them. Tightening regulations globally for human food and beverages may also impact health and wellness pet food, further highlighting the importance of food safety for both humans and animals alike. An aging population and declining birth rates have led to a different cultural attitude towards pets, which are increasingly regarded as family members.
Product innovation will continue to reflect the changing place of animals in the home with personalized food bowls, monogrammed sweaters and Halloween costumes becoming popular ways to humanize pets.
Coccidiosis as a disease is present in almost all types of animals ranging from poultry, ruminants to companion animals. In poultry and cattle markets the incidence of coccidiosis has cost millions of dollars in treatment and preventive care being given. Also the trend of owning companion animals is also contributing to the increasing use of anticoccidials, as dogs, cats and occasionally even horses are prone to coccidiosis and if left untreated it could lead to the death of the animal.
The global market for anticoccidials is increasing as the need for more and more meat, milk and milk products are required to feed the ever growing population. These factors make the farm animal market account for nearly 80% of the anticoccidial market.
The drugs market is gaining market is generating growth in the animal drugs market as the awareness regarding economic impact of diseases in livestock improves. On the other hand, the companion animals segment is also witnessing improvements as a result of growing focus on protecting human health by prevention of disease pathogens from animals.
The investments in this sector will reap huge benefits as the market is growing at healthy rate and the trend of owning companion animals is pacing at a good rate.