Market Trends of Veterinary Infectious Disease Therapeutics Industry
This section covers the major market trends shaping the Veterinary Infectious Disease Therapeutics Market according to our research experts:
Antibiotics Segment is Expected to Hold a Major Market Share in the Veterinary Infectious Disease Therapeutics Market
Antibiotic drugs are generally used in veterinary medicine to treat infectious diseases that are caused by bacteria and other microorganisms. Different classes of antibiotics are available for the treatment of infectious diseases in animals, including penicillins, cephalosporins, cephamycins, aminoglycosides, etc. Zoonotic diseases are infectious diseases caused by infections, organisms, and parasites that spread between animals and humans. According to the Centers for Disease Control and Prevention, in the year 2017, found that 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths are caused due to zoonotic diseases.
Hence, owing to the rising number of zoonotic diseases, along with rising pet ownership and increasing research and development (R&D) activities in the veterinary therapeutics are expected to drive the market growth.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America expected to hold a major market share in the global veterinary infectious disease therapeutics market due to the rising prevalence of veterinary infectious disease, rising companion animal healthcare expenditure in this region. As per the American Heartworm Society, the number of dogs diagnosed with heartworm per clinic has risen by 21 percent in the United States and its territories between 2013 and 2016. Moreover, increasing the adoption of veterinary products and advancements in veterinary infectious disease therapeutics technology is fueling the growth of the overall regional market to a large extent.
