New York, United States, April 08, 2022 (GLOBE NEWSWIRE) -- The tulathromycin market had a market share of USD 265.72 million in 2020, according to the new report of Straits Research. It is predicted to increase at a CAGR of 5.6% from 2022 to 2030.
Tulathromycin is an antimicrobial utilized to treat respiratory illnesses in dairy cattle and pigs. Zoetis has the Intellectual Property Rights (IPR) of tulathromycin and sells the drug under the name of Draxxin. As of late, the organization lost its patent because of patent expiry in the US and Europe. Thus, the USFDA allowed endorsement for two generic tulathromycin called Macrosyn and Increxxa.
The patent lapsed in February 2021 in the US, Europe, Canada, and Australia. The patent for tulathromycin is safeguarded in Japan until 2023. Aside from this, generic tulathromycin is being used in nations like Colombia, Vietnam, Belarus, Russia, Poland, and Croatia, starting in 2019. Due to patent expiry, these business sectors are creating an open door for conventional details. More players will probably take advantage of this chance as quickly as time permits to tap more of the overall industry.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/tulathromycin-market/request-sample
Key Insights
- According to the market share, cattle held more than 50% of the market's revenue in 2021. It is expected to grow at a CAGR of 6.2% by 2030
- Based on the regional analysis, North America acquired a market share of more than 40% in 2021.
Spur in the Cattle Population to Instigate the Need for Tulathromycin
Draxxin, a tulathromycin drug sold by Zoetis, is used for respiratory diseases in cattle and pigs. The company's patent to sell this drug has expired in the US and Europe. Therefore, USFA has approved two generic tulathromycin, namely Macrosyn and Increxxa.
Bovine Respiratory Disease (BRD) and Swine Respiratory Disease (SRD) are two prevalent diseases affecting cattle and pigs. BRD affects 25% of cattle every year, increasing the fatality rate. SRD impacts the overall health of pigs and can be proven fatal. The death rate in swine has increased to 20% due to the disease.
These diseases affect the cattle and pig population on the farm and lead to a significant financial loss. Meat and dairy farmers have to bear extra expenses due to stunted animal growth, diagnosis and treatment, and higher death rate. However, the increasing rate of BRD and SRD in cattle and swine has positively affected the demand for tulathromycin, expanding the global tulathromycin market.
Draxxin contains an active ingredient of tulathromycin. The major markets of the US, Europe, Canada, and Australia had their formulation patent, which expired in February 2021. Japan has protected this active ingredient till 2023. These products are marketed in the countries like Colombia, Vietnam, Belarus, Russia, Poland, and Croatia. This provides an open door for the players to enter the market.
The growth opportunities are vast, particularly in the US and Europe. They are the most prominent markets for utilizing these anti-infection agents for BRD and SRD. This is due to the higher consumption of meat and dairy products in these regions. These reasons are anticipated to create a passage for numerous new players and offer lucrative growth opportunities, enlarging the global tulathromycin market.
Buy Now Full Report @ https://straitsresearch.com/buy-now/tulathromycin-market/global/
Impact of COVID-19
The coronavirus pandemic has seriously impacted all the sectors across the globe. Over 100 nations were in severe lockdown due to the outbreak. Therefore, the development of businesses was generally affected. According to the discoveries, the meat and dairy industry saw a massive loss in income because of the halfway or complete closure of the dairies or butcheries.
Many dairies were shut down in the United States when they distinguished significant flare-ups. This placed pressure, particularly on pork and beef processing. There was a 45% decrease in meat production at a certain point, leading to animals crowding on the farms. This started to increase the overheads of the farmers with no income in hand because of the lockdown.
These factors subsided the demand for various antibiotics, including tulathromycin, as the farm owners suffered financially. During this period, Zoetis saw a 15% decrease in the income produced from the sale of tulathromycin.
Global Tulathromycin Market: Segmentation
By Animal Type
- Cattle
- Swine
Regions Covered
- Americas
- Europe
- Asia-Pacific
- The Middle East and Africa
List of Key Players
- Rochem
- AVF Chemical Industrial
- Zhejiang Genebest Pharmaceutical
- Livzon Group Fuzhou Fuxing Pharmaceutical Co., Ltd
- Hubei Honch Pharmaceutical Co.,ltd
- Wuhan Kemick Biomedical Technology Co., Ltd
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/tulathromycin-market/request-sample
Detailed Table of Content
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Tulathromycin Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Animal Type Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Cattle
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Swine
5.3.1 Market Size & Forecast (Value & Volume)
6 Regional Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 North America
6.2.1 Economic Overview
6.2.2 Market Scenario
6.2.3 U.S.
6.2.4 Canada
6.2.5 Mexico
6.3 Central and South America and the Caribbean
6.3.1 Economic Overview
6.3.2 Market Scenario
6.3.3 Brazil
6.3.4 Argentina
6.3.5 Colombia
6.3.6 Rest of Central and South America and the Caribbean
6.4 Europe
6.4.1 Economic Overview
6.4.2 Market Scenario
6.4.3 Germany
6.4.4 France
6.4.5 The U.K.
6.4.6 Italy
6.4.7 The Rest Of Europe
6.5 Asia-Pacific (APAC)
6.5.1 Economic Overview
6.5.2 Market Scenario
6.5.3 China
6.5.4 Japan
6.5.5 India
6.5.6 Australia
6.5.7 South Korea
6.5.8 Rest Of APAC
6.6 Middle East
6.6.1 Economic Overview
6.6.2 Market Scenario
6.6.3 South Arabia
6.6.4 The UAE
6.6.5 Qatar
6.6.6 Oman
6.6.7 Turkey
6.6.8 The Rest Of Middle East
6.7 Africa
6.7.1 Economic Overview
6.7.2 Market Scenario
6.7.3 Nigeria
6.7.4 South Africa
6.7.5 The Rest Of Africa
7 Competitive Landscape — Manufacturers & Suppliers
7.1 Competition Dashboard
7.2 Industry Structure
7.3 Rochem
7.3.1 Business Overview
7.3.2 Financial Performance
7.3.3 Recent Developments
7.3.4 Portfolio
7.4 AFV Chemical Industries
7.5 Zhejiang Genebest Pharmaceutical
7.6 Livzon Group Fuzhou Fuxing Pharmaceutical Co., Ltd
7.7 Hubei Honch Pharmaceutical Co., Ltd
7.8 Wuhan Kemick Biomedical Technology Co., Ltd
8 Conclusion & Recommendation
9 Acronyms & Abbreviations
For More Information, TOC, Query or Customization Before Buying, Visit @ https://straitsresearch.com/report/tulathromycin-market/toc
Market News
- In December 2021, Virbac announced that Tulissin, a tulathromycin injection, had been approved in the US. It also announced its collaboration with pharmagate.
- In December 2021, Vetoquinol's Tulaven 100, a tulathromycin injection in cattle and swine, and Tulaven 25 in calves and swine were approved.
- In September 2021, Zoetis launched Draxxin KP, a combination drug for BRD treatment.
News Media
Spur in the Cattle Population to Instigate the Need for Tulathromycin
COVID-19 to Severely Impact the Animal Feed Additive Market
Everything That You Need to Know About the Life Sciences Industry in 2020
Have a Look at Related Research Report
Nifedipine Market: Information by Type (Nifedipine Controlled-Release Tablets), Application (Heart Failure), Distribution Channel (Hospital Pharmacies), and Region — Forecast till 2029
Multiple Sclerosis Drugs Market: Information by Drug Class (Immunomodulator, Immunosuppressant, Interferons), Route of Administration (Oral, Injectable), and Region — Forecast till 2029
Lidocaine Market: Information by Mode of Administration (Intramuscular), Application (Epilepsy), Distribution Channels (Hospitals, Retail Pharmacies), and Region — Forecast till 2029
Pharmacogenomics Market: Information by Product and Services (Instruments, Services), Technology (NGS, PCR), Application (CVDs) and End User (Research), and Region — Forecast till 2029
Chemiluminescence Immunoassay Market: Information by Product (Instruments), Application (Oncology), End-User (Pharmaceutical and Biotechnology), and Region — Forecast till 2029
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
So let us put our minds together. We will make your vision a reality and help you grow.
Phone: +1 646 480 7505 (the U.S.)
+91 8087085354 (APAC)
+44 208 068 9665 (the U.K.)
Email: sales@straitsresearch.com
LinkedIn: https://www.linkedin.com/company/straitsresearch/
FB: https://www.facebook.com/straitsresearch/
Instagram: https://www.instagram.com/straitsresearch/
