Report : Middle East and Africa Farm Animal Drugs Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Anti-Infective, Parasiticides, Anti-inflammatory, Anesthetics, Analgesics, Hormones and Related Product, and Others), Animal Type (Livestock Animal, and Equine), Route of Administration (Oral, Parenteral, Topical, and Others), Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores, and Others)
Parasiticides Segment has the Largest Share of Product Type in the Middle East & Africa Farm Animal Drugs Market during 2021–2028
According to our latest study on “Middle East & Africa Farm Animal Drugs Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type, Animal Type, Route of Administration, and Distribution Channel,” the market is projected to reach US$ 893.5 million by 2028 from US$ 609.7 million in 2021; it is expected to grow at a CAGR of 5.6% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the changing perception toward use of farm animal drugs products and increasing investments by market players that drive the market growth. However, side effects associated with the use of farm animal drugs hampers the market growth.
The Middle East countries have registered a growth in COVID cases in the last few days. The demand for animal drugs decreased for a certain period until the new spread of the virus in animals hasn’t been confirmed. When the cases of several animals tested positive for the virus were reported in various parts of the region, a mix of established pharmaceutical companies involved in animal drugs have mounted up R&D and manufacturing efforts to produce and develop vaccines, and drugs against the SARS-CoV-2 virus. The current animal pharmaceutical markets in the MENA region differ considerably between the various nations. For example, high purchasing power and a cultural predilection for expensive foreign brands in Saudi Arabia have resulted in 85% of pharmaceuticals being imported. South Africa has increasingly turned to generics in recent years, which is an excellent opportunity for domestic and foreign manufacturers. The demand for animal drugs has been increasing due to the prevalence of various infectious diseases, but the supply chain and service providers cannot satisfy the needs and have impacted largely. However, manufacturers, service providers, and the government made new guidelines to work safely in the new normal and combat the demands. Therefore, several measures are taken by the market players to improve the business and quality of their services.
Based on product type, the Middle East & Africa farm animal drugs market is bifurcated into anti-infective, parasiticides, anti-inflammatory, anesthetics, analgesics, hormones and related product, and others. In 2021, the parasiticides segment is estimated to account for the largest market share owing to the growing incidence of zoonotic diseases, the rise in animal welfare laws, and the increasing number of government initiatives are driving the growth of the parasiticides segment.
PHIBRO ANIMAL HEALTH CORPORATION, Zoetis Inc., Ceva, Elanco, Virbac, INTAS PHARMACEUTICALS LTD., Alembic Pharmaceuticals Limited, Boehringer Ingelheim International GmbH, and MSD Animal Health are among the leading companies in the Middle East & Africa farm animal drugs market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for farm animal drugs market is segmented into product type, animal type, route of administration, and distribution channel. Based on product type, the Middle East & Africa farm animal drugs market is segmented into anti-infective, parasiticides, anti-inflammatory, anesthetics, analgesics, hormones and related product, and others. Based on animal type, the farm animal drugs market is segmented into livestock animal, and equine. Based on route of administration, the farm animal drugs market is segmented into oral, parenteral, topical, and others. Based on distribution channel, the farm animal drugs market is segmented into veterinary hospitals, veterinary clinics, pharmacies and drug stores, and others. Geographically, the farm animal drugs market is segmented into Middle East & Africa (UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa).
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