Growing Consumption of Meat Bolsters Growth in Veterinary Antiseptics Market
The rising demand for meat across countries of Asia Pacific, Latin America, and Rest of the World has led to an increased demand for veterinary antiseptics. The growing number of fitness-conscious people shifting their preference towards a protein-rich diet have spurred a high demand for animal healthcare.
Furthermore, the rising disposable income levels that are allowing consumers to spend on various types of meat are also contributing to the revenues of the veterinary antiseptics market in Asia Pacific, Latin America, and Rest of the World in many direct and indirect ways. Antiseptics are used to heal wounds, prevent infections, sepsis, or putrefaction. They are also used to prepare the skin surface before injecting the animal.
Iodine and Iodophors Segment to Exhibit 6.3% CAGR between 2015 and 2023
On the basis of product, the veterinary antiseptics market in Asia Pacific, Latin America, and Rest of the World is segmented into iodine and iodophors, chlorhexidine, alcohol, hydrogen peroxide, and others. Out of these, the iodine and iodophors segment is expected to grow at the fastest CAGR of 6.3% between 2015 and 2023. During this period, revenue from iodine and iodophors will rise to US$149.4 mn. The popular usage of iodine and iodophors is attributable to its mildness. Thus, it is extensively used for treating both small and large animals. For instance, the most commonly used form of iodophors is povidone-iodine as a solution or a scrub under the popular name of Betadine.
During the same period, the chlorhexidine segment is expected to rise at a CAGR of 5.5% between 2015 and 2023. This antiseptic is largely used for cats, sheep, horses, cows, poultry animals, and dogs for treating their cuts, insect stings, and abrasions. Chlorhexidine is known for improving precipitation of salivary minerals, which leads to calculus in companion animals.
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