The anticoccidial drugs market size in the Asia Pacific region is estimated to reach USD 514.27 million by 2027 from USD 414.86 Million in 2022, growing at a CAGR of 4.39% from 2022 to 2027.
The APAC market for anticoccidial drugs is driven by factors such as the rising incidence of Coccidiosis in food-producing and companion animals, increased prophylactic use of anticoccidial drugs, and increased demand for meat proteins, as well as increased awareness about animal health around the region. Furthermore, fewer rigorous regulations and increased government investment in companion animals aid the anticoccidial medicines market's expansion.
The Anticoccidial drugs market expansion in the Asia Pacific is further fueled by increased coccidiosis prevalence, innovations in veterinary healthcare, and innovative animal healthcare product releases, particularly in the companion animal sector. The increased need for anticoccidial medications is due to the growing popularity of companion animals such as dogs, cats, and even horses, which are susceptible to Coccidiosis and, if left untreated, can result in death. In addition, over the forecast period, increased demand for animal proteins is expected to boost the market. Furthermore, it is due to rapid population expansion, which increased meat exports and, as a result, indirectly raised the demand for veterinary care.
According to the WHO, the cattle sector is under increasing pressure to meet the rising demand for high-value animal protein. The market for anticoccidial drugs in the Asia Pacific was overgrowing due to significant advancements in veterinary care and increased government initiatives. The number of oocytes devoured and the coccidia population defines the severity of the condition. Anticoccidial drugs prevent the spread of Coccidiosis in animals and birds. Anticoccidials are used in feed to avoid disease and lessen the financial impact of subacute infections.
Adopting alternative treatments for Coccidiosis, such as vaccines and herbal cures, is anticipated to stifle the Asia Pacific market for anticoccidial drugs. In addition, the availability of other treatment alternatives on the market, the large sums of money invested in treating and preventing Coccidiosis, and the infections' increasing resistance are all projected to slow market growth.
This report on the Asia Pacific Anticoccidial Drugs Market has been segmented and sub-segmented into the following categories:
By Drug Type:
The ionophore anticoccidials segment is the most lucrative among all and is expected to hold a leading share of the APAC market in the coming years.
By Animal Type:
The poultry segment was the leader among all and is expected to occupy the leading share of the APAC anticoccidial drugs market during the forecast period.
The market for anticoccidial pharmaceuticals in the Asia Pacific is expected to hold a substantial share of the worldwide market during the forecast period owing to the growing advancements in veterinary healthcare and increased government initiatives. As a result, major pharmaceutical companies are now outsourcing medication development to countries like China, Singapore, Malaysia, and India, propelling the anticoccidial drugs market. Furthermore, in expanding economies like India and China, disposable income rises, resulting in a shift in lifestyle and increased demand for animal protein sources like meat and milk. Therefore, veterinary pharmacy needs are projected to increase as disposable income rises.
The China anticoccidial drugs market had a significant share of the APAC market in 2021. However, the Chinese market is characterized by many small players, both in terms of meat production and antimicrobial agent production. As a result, it has sparked a pricing war since these low-cost alternatives give international corporations a run for their money.
KEY MARKET PLAYERS:
Bayer Health care, Zoetis, Merial, Elanco, Virbac, Ceva Santé Animale, Merck Animal Healthcare, Novartis Animal Healthcare, Boehringer Ingelheim Animal Health, and Smartvet Inc. are some of the notable companies in the APAC anticoccidial drugs market.
The APAC anticoccidial drugs market was worth USD 414.8 million in 2022.
The growing demand for animal protein, the rising prevalence of coccidiosis in livestock, and growing awareness about the benefits of using anticoccidial drugs are majorly boosting the APAC anticoccidial drugs market.
Zoetis Inc., Ceva Santé Animale, Boehringer Ingelheim GmbH, Merck & Co., Inc., and Elanco Animal Health are some of the notable companies in the APAC anticoccidial drugs market.
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