Anticoccidial Drugs Market to Reach USD 257.8 Million, Globally, by 2031 at 4.2% CAGR: Allied Market Research
Rise in the development of advanced anticoccidial drugs and surge in government initiatives for infusing awareness about coccidiosis and its medications drive the growth of the global anticoccidial drugs market.
PORTLAND, Ore., Dec. 6, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Anticoccidial Drugs Market by Drug Class (Ionophore, Synthetic Drugs), by Drug Action (Coccidiostatic, Coccidiocidal), by Animal Type (Poultry, Cattle, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global anticoccidial drugs industry was estimated at $171.3 million in 2021, and is anticipated to hit $257.8 million by 2031, registering a CAGR of 4.2% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.
Determinants of growth-
Rise in the development of advanced anticoccidial drugs and surge in government initiatives for infusing awareness about coccidiosis and its medications drive the growth of the global anticoccidial drugs market. On the other hand, stringent government guidelines that restrict the usage of anticoccidial drugs in livestock and the use of alternative medicines such as vaccines and herbal medicines to treat coccidiosis impede the growth to some extent. However, availability of new products at affordable rates is anticipated to create lucrative opportunities in the industry.
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Covid-19 scenario-
- The transport or travel restrictions and several social distancing measures made it difficult for animal owners to collect the medications and treatments they need from veterinary practices. The government and other authorities imposed strict measures for containing the Covid-19 pandemic. These factors impacted the global anticoccidial drugs market.
- However, the market has now recovered slowly and got back on track.
The synthetic drugs segment to rule the roost-
By drug class, the synthetic drugs segment contributed to nearly three-fifths of the global anticoccidial drugs market revenue in 2021, and is projected to dominate by 2031. Increasing use of synthetic drugs in the control & prevention of diseases and surge in the prevalence of coccidiosis diseases fuel the segment growth. The lonophore segment, simultaneosuly, would showcase the fastest CAGR of 4.5% from 2022 to 2031.
The coccidiostatic segment to maintain the highest share-
By drug action, the coccidiostatic segment garnered the highest market share in 2021, accounting for more than three-fifths of the global anticoccidial drugs market revenue. The same segment would also cite the fastest CAGR of 4.5% from 2022 to 2031. This is due to surge in adoption of drugs with coccidiostatic mode of action and rise in research & development activities for the development of coccidiostatic medicines.
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The others segment dominated the market-
By animal type, the others segment garnered more than two-fifths of the global anticoccidial drugs market revenue in 2021, and is expected to rule the roost by 2031, due to rise in demand for pet animals. The cattle segment, however, would showcase the fastest CAGR of 4.6% during the forecast period.
North America grabbed the lion's share-
By region, the anticoccidial drugs market across North America held the major share in 2021, contributing to more than two-fifths of the global market revenue, owing to high prevalence of coccidiosis, increase in the number market players and surge in the population of meat producers across the region. The Asia-Pacific region, on the other hand, would cite the fastest CAGR of 5.6% during the forecast period. The presence of high populace countries such as India and China heightens the prevalence rate of coccidiosis diseases, which propels the market growth. Also, increasing number of strategies and trends adopted by the market players has supplemented the market growth.
Key players in the industry-
- Boehringer Ingelheim International GmbH
- Ceva sante animale
- Dosh Pharmaceuticals Private Limited
- Huvepharma EOOD
- Merck & Co., Inc.
- Zoetis Inc.
- Bayer AG
- Venkateshwara hatcheries Private Limited
- Vetoquinol SA
- Virbac SA
The report analyzes these key players in the global anticoccidial drugs market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
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