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(MoneyNewsWire.Net, July 10, 2017 ) The Asia-Pacific market for anticoccidial drugs is estimated to reach $598million by 2020 from $466 Million in 2015 at a CAGR of 5.12%. Coccidiosis is a parasitic infection of the intestinal tract of animals, which is caused by coccidian protozoa. The disease spreads from one animal to another by any means of contact with infected faeces or consumption of infected tissue which is responsible for devastating mislay in meat production. To overcome this condition, anticoccidial drugs play a vital role in the prevention and treatment of coccidiosis.
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Growing demand for meat proteins is increasing the usage of anticoccidial drugs and is acting as major driving force for Asia-Pacific anticoccidial drugs market. Besides, less stringent regulations in these regions and increasing expenditure on companion animals are also assisting in growth of market. Further, the trend of owning companion animals is causative to the growing usage of anticoccidials in developing regions.
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The Asia-Pacific anticoccidial drugs market is classified based on various types of animals and by type of drugs used for treatment. The animal segment is sub-categorised into fish, swine, cattle, poultry and companion animals. The companion animal further includes dogs and cats. The livestock industry in the Asian countries has seen steady growth over the past two decades. And on the basis of drug type the market is segmented into antibiotic anticoccidials, Ionophore anticoccidials and chemical derivative anticoccidials. The antibiotic segment has high potential to grow in coming few years. Furthermore, on the basis of geography, the Asia-Pacific Market is analysed under various regions namely, India, China, Japan and South Korea.
Anticoccidial industry is currently facing diverse challenges related to microbial resistance build-up to drugs and increasing government regulations, consequently the major players in the industry are focusing on less regulated markets present in the Asia Pacific regions. Some of the key players operating in the market are Bayer Health care, Zoetis, Merial, Elanco, Virbac, Ceva Santé Animale, Merck Animal Healthcare, Novartis Animal Healthcare, Boehringer Ingelheim Animal Health and Smartvet Inc.
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