Albany, New York, December 22, 2016: Market Research Reports Search Engine (MRRSE) has announced that its repository now features a new report, titled “Poultry Pharmaceuticals Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” The report by Transparency Market Research (TMR), predicts that the global poultry pharmaceuticals market valued at US$3.7 bn in 2015 and is predicted to touch US$7.8 bn by 2024, rising at a healthy 8.50% CAGR from 2016 to 2024.
On the basis of product, the poultry pharmaceuticals market is segmented into feed additive medication, vaccines, and drugs. Drugs are further segmented into VETRIMOXIN and other drug products. On the other hand, vaccines are further segmented into Poulvac, INNOVAX, NOBILIS, and other vaccine products, while feed additive medication is further segmented into Amnovit, VIGOSINE, and other feed additive medication. The segment of vaccines amongst the product types held a top position in the market in 2015 because of the increasing utilization of vaccines in poultry farmers for poultry animals’ immunization owing to their instant effect. On the other hand, the use of feed additive medication in poultry animals is also rising due to their ability to dissolve in feed fed to animals. The segment of drugs is also predicted to rise at a swift CAGR over the forecast horizon.
High Protein Content in Duck Eggs to Drive their Demand
In terms of animal, the segment of chicken experienced the maximum demand in the market in 2015. The reason for the increasing superiority of this segment include the rising inclination toward chicken amongst non-vegetarians globally. The health benefits related with the consumption of chicken will boost the demand in forthcoming years. On the other hand, the segment of duck meat will also hold a prominent share in the market owing to it being tender, lean, and its fatty liver. The eggs of ducks have also gained prominence due to the high protein content.
In terms of geography, the report segments the market into Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa (MEA). Of these, North America held the most dominant share in the market in 2015 because of the increasing adoption of poultry pharmaceuticals within this region. Also, the growing concerns about re-occurring poultry diseases fuel the market for poultry pharmaceuticals in North America. In North America, the U.S is a top contributors in the market within North America. On the other hand, Latin America is poised to emerge as one of the most swiftly developing markets in North America.
Rising Epidemic of Poultry Diseases to Raise Demand for Poultry Pharmaceuticals
The global poultry pharmaceuticals market is fuelled by the increasing epidemic of poultry diseases and the increased inclination over the wellness and prevention of poultry animals by owners and veterinarians and the growing consumption of animal proteins by individuals globally. In addition, the rising poultry franchisees in developing regions and the increasing private and government initiatives for vaccination programs in poultry farms will also provide impetus to the development of the market for poultry pharmaceuticals.
Zoetis, Inc., Merck Animal Health, Ceva Sante Animale, Merial Animal Health, and Elanco Animal Health, Bayer AG, Virbac, and Bimeda, among others, are the prime players operating in the global poultry pharmaceuticals market.
Browse Full Global Poultry Pharmaceuticals Market Report with TOC:http://www.mrrse.com/poultry-pharmaceuticals-market
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