According to the report Latin America Anticoccidial Drugs Market, published by Market Data Forecast, The market is estimated to grow from $186.4 million in 2015 to $225 Million by 2020 at a CAGR of 3.81%.
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.
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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, increase in consumer awareness for a healthy diet containing meat proteins is causing a demand for meat production.
This has created a need for adoption of antibiotics (Anticoccidial drugs) by farmers to meet the growing demand for meat production.
Further, the trend of owning companion animals is causative to the growing usage of anticoccidials in developing regions.
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Latin America Anticoccidial Drugs Market: Segmentation
By Drug Type
- Antibiotic anticoccidials
- Ionophore anticoccidials
- Chemical derivative anticoccidials
By Animal Type
- Companion Animal
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 being 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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