As cited by the research report titled ‘Global Animal Antibiotics and Antimicrobials Market Size study, by Type of Product (Tetracyclines, Penicillin, Sulfonamides, Macrolides, Aminoglycosides, Lincosamide, Fluoroquinolones, Cephalosporins and Other Antimicrobials and Antibiotics), Mode of Delivery (Premixes, Oral Powder, Oral Solution, Injection and Others), By Animal Type (Food-Producing Animals and Companion Animals) and Regional Forecasts 2020-2027’, available with Market Study Report, global animal antibiotics and antimicrobials market was worth USD 4.4 billion in 2019 and is estimated to expand with a CAGR of 3.6% over 2020-2027 to account for USD 5.81 billion by the end of forecast period.
 

Increasing livestock population, rise in demand for dairy products, initiatives relating to animal wellbeing & health, and surging consumption of animal derived food products are the factors driving the global animal antibiotics and antimicrobials market growth.
 

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As cited by the Guardian and the Bureau of Investigative Journalism, the UK witnessed a 7% rise in the number of industrial-sized pig & poultry from 1669 in 2017 to 1786 in 2020, owing to widespread usage of animal antibiotics and antimicrobials. Moreover, according to Statista, volume of global dairy market is estimated to grow from 225 metric tons in 2019 to 234 metric tons by 2021.
 

Rise in companion animal ownership, and boost in consumer demand for animal protein are also augmenting the market outlook.
 

For the record, animal antibiotics and antimicrobials are the products that prevent animals from ailments like pneumonia, skin infections, and other problems by killing or inhibiting the growth of bacteria and increasing the immunity.
 

However, stricter regulations enforced by Food and Drugs Administration (FDA) on excessive use of animal antibiotic and antimicrobial products will hamper the industry remuneration over the forthcoming years.
 

Based on the type of product, global animal antibiotics and antimicrobials industry is segmented into tetracyclines, sulfonamides, penicillin, aminoglycosides, macrolides, fluoroquinolones, lincosamides, cephalosporins, and others. On the basis of mode of delivery, the marketplace is classified into premixes, oral solution, oral powder, and injection among others. Moving on to animal type, the market is classified into food-producing animals, and companion animals.
 

Geographically, North America is slated to be a major growth hub for worldwide animal antibiotics and antimicrobials market over 2020-2027, owing high disposable income, increasing urbanization, and rising demand for animal related products.
 

Whereas, Asia Pacific market is poised to grow substantially over the forecast period, on account of increasing expenditure on animal health, and rise in demand for dairy products.
 

Key contenders profiled in the report are Virbac, Zoetis Inc., Phibro Animal Health Corp., Merck & Co. Inc., Elanco Animal Health Incorporated, Vetoquinol SA, Dechra Pharmaceuticals plc, Ceva Santé Animale, HIPRA, and Boehringer Ingelheim Group.