Latin America market for anticoccidial drugs is estimated to grow from USD 85.72 Million in 2022 to USD 104.85 Million by 2027 at a CAGR of 4.11%. The ban on consumption of antibiotics as a source of animal feed and the upsurge in incidences of antibiotic resistance microbes has seen a reduced growth in the antibiotic market, nevertheless the rising incidence of coccidiosis over the preceding 50 years and its control on the overall cost to benefit ratio for the meat industry has furthered the anticoccidials drug market.
Coccidiosis infects a wide range of animals, such as cattle, poultry species, pigs and sheep which is responsible for the downfall in meat production. Further, an increase in consumer awareness for a healthy diet containing meat proteins is causing a demand for meat production. This has created a need for the adoption of antibiotics (Anticoccidial drugs) by farmers to meet the growing demand for meat production. Besides, less stringent regulations and increased expenditure on companion animals are also assistants in the growth of Latin America anticoccidial drugs market. Further, the trend of owning companion animals is causative to the growing usage of anticoccidials in developing regions.
The Latin America anticoccidial drugs market is classified based on various types of animals and by type of drugs. The animal segment is sub-categorized into poultry, swine, fish, cattle and companion animals. The companion animal segment is divided into dogs and cats. In addition to this, the market is segmented under antibiotic anticoccidials, Ionophore anticoccidials, and chemical derivative anticoccidials. Furthermore, on the basis of geography, the Latin America Market is analyzed under various regions namely, Argentina, Brazil, and Mexico.
The anticoccidial market is facing diverse challenges in form of microbial resistance build-up to antibiotics and stringent government regulations in developed nations, consequently forcing the major players to look for leniently regulated markets in the Latin American regions. These were the regions estimated to grow the most during the forecasted period. Some of the key players operating in the market are Bayer Health care, Zoetis, Elanco, Merial, Merck Animal Healthcare, Virbac, Ceva Santé Animale, Boehringer Ingelheim Animal Health, Novartis Animal Healthcare, and Smartvet Inc.
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