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According to a latest study by Future Market Insights (FMI), the global farm animal drug market is projected to grow at over 6% CAGR during the period 2017-2027. Increased production of anti-infectives and penetration of parasiticides production in Latin America is expected to offer growth opportunities to players in this market.
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, 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, 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, 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.
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Competitive Landscape
Key companies profiled in the report are Bayer AG, Boehringer Ingelheim GmbH, Zoetis, Inc., Ceva Santé Animale, Dechra Pharmaceuticals PLC, Elanco Animal Health (Sub. Eli Lilly), Merck Animal Health, Virbac SA, Vetoquinol SA, Intas Animal Health, Alembic Animal Health, Sequent Scientific, Hester Biosciences, Ashish Life Sciences, Ouro Fino Saude Animal (Ourofino), Zydus Animal Health (Sub. Cadila Healthcare Ltd), Phibro Animal Health Corporation, Nippon Zenyaku Kogyo Co., Ltd, Norbrook, Kyoritsu Seiyaku Corporation.
About Us
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.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com/
(Added: Tue Dec 11 2018 Hits: 0 Rating: 0.00 Votes: 0) Rate ItBioabsorbable stents function like normal medical stents. The main difference between regular stents and bioabsorbable stents is the material which is used in their manufacturing; bioabsorbable stents use material which is easily absorbed in the body.
The growth of the global bioabsorbable stents market is influenced by factors such as rise in cardiovascular surgeries on a global scale, lower treatment cost, and exact stent placement. These factors are reinforced with technological developments, which are again intensifying thereby fuelling the growth of the global bioabsorbable stent market. However, there are certain limiting factors which offer challenge to the growth of the global market, such as possibilities of complications during insertion or post surgery and less awareness about bioabsorbable stents.
The global bioabsorbable stents market is poised to reach a value of around US$ 350 Mn by the end of 2022 and is anticipated to grow at a robust CAGR during the period of forecast of 2017 to 2022.
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6 Forecast Highlights on Global Bioabsorbable Stents Market
By product type, polymeric stents segment is expected to dominate the global market. As of 2017 statistics, this segment reflected a higher market share of 57.6% thus portraying dominance and is expected to continue to dominate the global market throughout the forecast period
Polymeric-coated metallic stents product segment is anticipated to reflect the highest growth rate to register an exponential CAGR of 12.2% throughout the period of forecast 2017-2022. This segment is also poised to gain the highest BPS by the end of 2022
Europe region is the most lucrative region and dominates the global market. This region is poised to grow at a significant CAGR during the forecast period. North America region is anticipated to show the highest growth rate to register a CAGR of 10.2% throughout the period of forecast of 2017-2022
Hospitals segment by end user shows higher market share of 62.1% and also grows at a higher growth rate during the forecast period. Following this segment, cardiac catheterization labs segment has secured second place with respect to market share and growth rate throughout the forecast period of 2017 to 2022
Coronary artery disease segment by disease indication is anticipated to grow at a significantly higher growth rate to register a CAGR of 10% and also poised to hold higher market share thereby dominating the global market. This segment is also expected to gain higher BPs by the end of 2022
Slow absorption rate segment by absorption rate is poised to register a CAGR of 10.3% throughout the period of forecast of 2017 to 2022 and also portrays dominance by reflecting a higher market share during the forecast period
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The report has also profiled key leading players in the global bioabsorbable stents market, which would remain active through 2022. These include players like Lepu Medical Technology (Beijing) Co., Ltd., Becton Dickinson and Company, Boston Scientific Corporation, Kyoto Medical Planning Co., Ltd., Tepha, Inc., REVA Medical, Inc., Elixir Medical Corporation, BIOTRONIK SE & Co. KG, Amaranth Medical, Inc., and Abbott Laboratories.
About Us
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.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com/
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