The animal medicines and vaccines sector is estimated to represent a global market of $30 billion. Rapid population growth, increased urbanization and rising per capita income in emerging markets is increasing the demand for animal protein.
100 million tonnes of poultry meat (equivalent to approximately 60 billion chickens) was produced in 2015. This is expected to grow by 24% over the next decade. The wholesale value of poultry shipments in the US alone (approx. 15% of world market) in 2016 is estimated to be $60bn. The economic losses to poultry diseases are currently estimated to be between 10 to 20 percent of gross value of production in developed countries and higher in developing ones.
78 million tonnes of aquaculture produce were farmed in 2014, worth approximately $160bn. Captured fish is stagnating but demand is expected to increase to 150 million tonnes in the next 35 years. Medicalization rates for fish rank at the lowest level of any livestock category. At least $6bn are lost annually to disease in aquaculture.
Infections caused by drug resistant bacteria now kill more than 700,000 people per year. By 2050 drug-resistant infections could cost between 1.1% and 3.8% of global GDP and kill as many as 10m people per year. Approximately 70% of all antibiotics administered are used in livestock, Axitan’s technology render the use of much antibiotics redundant.