The global veterinary zinc bacitracin market size was USD 1.251 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with veterinary zinc bacitracin experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1.705 billion in 2028, exhibiting a CAGR of 5.3 % during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A combination of high-molecular-weight polypeptides constitutes zinc bacitracin (bacitracin A, B, C, and several minor components). Zinc bacitracin is a powder that ranges in colour from grey-brown to brown. It smells as it should. It is easily soluble in water, pyridine, methol, diluted hydrochloric acid, etc. In addition to having a significant antibacterial impact on Gram-positive bacteria, bacitracin also has an antibacterial effect on actinomycetes, leptospirae, and Gram-negative bacteria. On pigs, cattle, and poultry (especially broilers), it has a growth-promoting effect. In contrast to other commercially available antibiotics, bacitracin works bactericidally by attaching to isoprenyl pyrophosphate, the lipid carrier that transports N-acetylmuramyl-N-acetylglucosamyl-amino acid cell wall building blocks across the cytoplasmic membrane. It is not widespread, however acquired resistance is known, for instance in S. aureus. The susceptibility of some species, such enterococci, appears to have fluctuated throughout time. There isn't any antibiotic-to-antibiotic resistance.
In the near future, it's anticipated that the expanding animal feed industry will increase demand for zinc bacitracin. The need for animal feed has been driven up by the rising popularity of pig, calf, and poultry farming. The veterinary zinc bacitracin market share has increased as a result. Government initiatives to promote animal husbandry are projected to increase demand for animal feed. In consequence, it is predicted that throughout the projected period, this will increase demand for veterinary zinc bacitracin. Due to the rising number of poultry farms, the poultry sector held a sizable portion of the veterinary zinc bacitracin market share. The need for calve farming has grown in response to the rising milk demand. This has increased demand for zinc bacitracin market as a result.
COVID-19 Impact: Market kinetics were challenged by virus outbreak interruptions.
The veterinary zinc bacitracin market has been affected by the COVID-19 pandemic. With disastrous consequences on the global market in almost every nation, it has also seriously harmed our food supply networks, lives, economies, and systems for raising animals. These elements are all inextricably intertwined. A fresh piece of evidence supporting the necessity for a persistent and long-lasting One Health partnership has been presented by the COVID-19 pandemic. The COVID-19 pandemic's development had a significant impact on how the healthcare industry as a whole operated. Many vital goods and services had a multi-fold surge in demand, whilst their non-essential equivalents experienced a decline globally. It was reported that the COVID-19 pandemic had marginally hindered the market's growth for veterinary zinc bacitracin.
"Partnerships And Strategic Collaborations to Drive Innovations "
In order to promote product developments, businesses in the veterinary zinc bacitracin market are actively cooperating and partnering with other companies. Veterinary pharmaceutical businesses are expanding into new geographies and creating unique products by collaborating with other competitors in order to compete in the fiercely competitive veterinary drugs industry. A new immunotherapeutic treatment option for veterinary medicine was discovered and developed in collaboration by the German animal pharmaceutical business Bayer Animal Health and the Spanish animal pharmaceutical company VLPbio in October 2019. In order to create therapeutic antibodies for veterinary medicine, Bayer also partnered with Adivo GmbH, a German biotech business that creates therapeutic antibodies for companion animals, in April 2019.
- By Type Analysis
According to type, the market can be segmented into 10% Zinc Bacitracin and 15% Zinc Bacitracin. The 10% Zinc Bacitracin type will capture the maximum market share through 2028.
- By Application Analysis
Based on application, the market can be divided into Pigs, Chicken and Others. The global veterinary zinc bacitracin players in cover segment like Pigs will dominate the market share during 2022-2028.
"The segmental revenue is anticipated to grow as a result of improvements in diagnostic and imaging technology for veterinary services. "
The market for diagnostic tests and imaging services generated over USD 34 billion in revenue in 2021, and it is expected to continue to dominate over the forecast period with a sizable market growth rate. Animals who get infectious illnesses run the risk of dying, and farm animals are frequently less productive as a result. The potential of disease invasion is exacerbated by the globalisation of the animal and allied product trade. The detection, control, and eradication of such illnesses depend on accurate and timely diagnostic procedures. As a result, veterinary services including diagnostic testing and imaging have increased. The development of equipment and auxiliary instruments for the quick and simple identification of animal diseases has been prompted by the requirement of imaging and diagnostic tests. The creation of prototype diagnostic tests for a variety of zoonotic illnesses is made possible by the revolutionary technological technologies for personalised human medicine. A veterinary clinic also uses cutting-edge imaging technologies in its radiology and imaging rooms to identify and treat illnesses in animals. Therefore, as a result of the aforementioned factors, the market for veterinary services is anticipated to continue to grow over the projected period.
"Rising zoonotic disease cases among farm animals may open up a number of new business prospects."
Numerous chances for market expansion and market dynamics would be boosted by the rise in zoonotic disease occurrences among farm animals. The market for animal medicines would be dominated by livestock animals in 2020, accounting for more than 63 percent of the market share due to the rising incidence and cost burden of zoonotic diseases among livestock animals. Farm animals are the victim of bacterial parasites, which lead to widespread illness and financial suffering. Additionally, during the forecast period of 2022–2028, improvements in medical technology and an increase in R&D efforts will create favourable possibilities for the veterinary zinc bacitracin.
"Growing Risk of Antibiotic Resistance might restrict potential market growth "
The market for veterinary zinc bacitracin is anticipated to have some restraint during the projected period due to the growing concern of animal antibiotic resistance. The capacity of a microorganism to survive the effects of an antibiotic that formerly could effectively treat an illness from the same type of bacteria is known as antibiotic resistance in animals. The misuse of antibiotics may be the cause of this. China banned the use of antibiotics in feeds beginning in 2020 and halted the manufacturing of commercial feed containing pharmaceutical feed additives that promote growth as a response to the threat posed by antibiotic resistance. Additionally, in support of global antibiotic policy, Brazil's Ministry of Agriculture, Livestock and Supply (MAPA) has issued a prohibition on the use of three growth promoters, namely tylosin, tiamulin, and lincomycin, in the production of swine. These restrictions are anticipated to limit the veterinary zinc bacitracin market growth as a whole as well as the market for veterinary antibiotics.
"The Growing Demand for Feed Led Asia Pacific to Lead the Worldwide Veterinary Zinc Bacitracin. "
In 2015, the market for zinc bacitracin was dominated by Asia Pacific, followed by Europe and North America. Because of the rising demand for feeds coming from the region's growing economies, including China, India, and Japan, Asia Pacific is anticipated to dominate the worldwide market throughout the projected period. During the projected period, it is predicted that expansion of the agriculture sector in Asia Pacific would increase demand for zinc bacitracin in the area. Due to the expansion of the feed sector in the region, the market in Asia-Pacific is also probably going to rise. Due to regional governments' initiatives to support the agriculture industry, the zinc bacitracin market in Asia Pacific is expected to experience substantial expansion over the forecast period.
During the projection period, it is also predicted that the Latin American market would grow significantly. In 2015, France accounted for a sizable portion of the European market for zinc bacitracin. It is anticipated that the nation would soon control the market share in the area. In the near future, it is projected that demand for zinc bacitracin would rapidly increase around the world, providing the worldwide market with strong potential prospects. Latin America's veterinary zinc bacitracin market growth is being driven by a sharp rise in demand from end-use applications, competitive production prices, and strong economic expansion. These elements are encouraging businesses to embrace R&D and growth initiatives in the area. To increase their market share, businesses are concentrating on North America.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Zoetis (U.S)
- Ceva Corporate (France)
- Huvepharma (U.S)
- Lifecome Biochemistry (China)
- Qilu Pharmaceutical (China)
- Orion Animal Nutrition (Finland)
- Vega Pharma (China)
- Tianjin Xinxing Veterinary Pharmaceutical (China)
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
|Market Size Value In||US$ 1.251 Billion in 2022|
|Market Size Value By||US$ 1.705 Billion by 2028|
|Growth Rate||CAGR of 5.3% from 2022 to 2028|
|Historical Data Available||Yes|
|Segments Covered||Type & Application|
Frequently Asked Questions
1.What value is the veterinary zinc bacitracin market expected to touch by 2028?
The veterinary zinc bacitracin is expected to touch USD 1.705 billion by 2028.
2.What CAGR is the veterinary zinc bacitracin market expected to exhibit during 2022-2028?
The veterinary zinc bacitracin market is expected to exhibit a CAGR of 5.3 % over 2022-2028.
3.Which are the driving factors of the veterinary zinc bacitracin market
Improvements in diagnostic and imaging technology for veterinary services and rising zoonotic disease cases among farm animals are the driving factors of the veterinary zinc bacitracin market.
4.Which are the top companies operating in the veterinary zinc bacitracin market?
Zoetis, Ceva Corporate, Huvepharma, Lifecome Biochemistry, Qilu Pharmaceutical, Orion Animal Nutrition are the top companies operating in the veterinary zinc bacitracin market