The Business Research Company’s Veterinary Antibiotics Global Market Report 2020-30: Covid 19 Impact and Recovery. The report covers market size, key players, market share and trends to 2030.
Veterinary Antibiotics Global Market Report 2020-30: Covid 19 Impact and Recovery is one of a series of new reports from The Business Research Company that provide Veterinary Antibiotics market overviews, analyze and forecast market size and growth for the whole market, Veterinary Antibiotics market segments and geographies, Veterinary Antibiotics market trends, Veterinary Antibiotics market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The veterinary antibiotics market consists of sales of veterinary antibiotics and related services. Veterinary antibiotics are used to fight against infections and diseases in animals caused due to bacteria. Veterinary antibiotics industry includes companies involved in the production of antibiotics used for therapeutic and prophylaxis treatment of animals.
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The global veterinary antibiotics market is expected to decline from $1.3 billion in 2019 to $1.2 billion in 2020 at a compound annual growth rate (CAGR) of -14.7%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. COVID-19 pandemic is affecting industries across the globe including the animal sector. The restrictions on non-essential medical services coupled with slowed production of veterinary pharmaceuticals due to extended factory closures in various countries, shortage of APIs and other chemicals, and rise in prices of key ingredients are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 6.7% from 2021 and reach $1.7 billion in 2023.
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