Chlortetracycline Market - Size, Share, Trends, and Forecast 2019 - 2027

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

The global chlortetracycline market size is expected to reach US$ 296 million by 2027, and register a CAGR of 13.1% over the forecast period (2019 - 2027).

Market Overview

Chlortetracycline belongs to the tetracycline class. It is isolated from S.aureofaciens and used as an antiprotozoal and antibacterial drug. Appearance wise, chlortetracycline has the texture of a fine yellowish powder, which is produced through the process of fermentation. Chlortetracycline is sold commercially under the trade name 'Aureomycin', and has major application as an antibiotic for treating cattle, livestock, and poultry. It is used for treating and curbing health issues in animals, such as infections in sheep, cattle, pigs, as well as infections in the respiratory tracts of chickens, pigs, and calves.

Market Dynamics

Rising occurrence of infections in animals and increasing demand for animal products is expected to drive demand for antibiotics for treating animal diseases. Moreover, demand for food is also growing in the animal husbandry and poultry sectors which is also estimated to play a role in the growth of the global Chlortetracycline market over the forecast period.

Chlortetracycline, both as a therapeutic and prophylactic agent, is expected to find major application in the animal husbandry and poultry sectors. It is also widely used as a veterinary medicine, and most commonly for the treatment of conjunctivitis in large animals such as horses, as well as in cats and dogs. Chlortetracycline is used to improve growth and feeding efficiency in turkeys and chicken, and for preventing respiratory tract infections in sheep and cattle. However, chlortetracycline has been reported to have adverse health effects in animals such as inhibiting tooth and bone mineralisation in the fetus or growing animals. Furthermore, it has been known to cause liver and kidney impairments, even though allergic reactions are comparatively rare. These factors may restrain growth of the chlortetracycline market in the future.

Market Outlook

In terms of market share, the Asia Pacific region is expected to account for the largest share, and projected to grow steadily over the forecast period. Growing presence of key players in the region, combined with a rise in demand for antibiotics in the poultry industry of emerging economies such as India and China will contribute to the growing demand for animal feed in the region. The number of pet owners, and livestock in major economies in the region is expected to expand over the forecast period, which in turn will benefit the overall growth of the chlortetracycline market. Other regions such as Latin America, Africa, and Middle East are also expected to show potential as a result of rising industrialisation and economic progress by GCC countries. At the same time Europe and North America are also slowly emerging from the economic slump and are expected to account for a significant revenue generated for the chlortetracycline market in the region. Factors such as rising disposable income, increasing demand for animal feed, and growing awareness regarding animal health, is projected to positively impact the global chlortetracycline market. The competitive landscape in key regions such as Asia Pacific is another promising factor, as key player in the region are engaged in expanding their footprints in untapped regional markets, thereby strengthening their position in the global market. All of these factors are expected to facilitate growth of the global chlortetracycline market in the near future.

Key Players

Some of the prominent players in the global chlortetracycline market include Hebei New Century Pharmaceutical Co., Ltd., Zoetis Inc., Weifang Union Biochemistry Co., Ltd., Qingdao Dacon Trading Co., Ltd., and Jiaxing Suns Intl Trade Co., Ltd. among others.

Research Methodology

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In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

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Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

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Data Validation

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