The global veterinary antibiotics market is on a steady growth trajectory, with forecasts indicating a projected value of US$ 20,154.0 million by 2033, reflecting a compound annual growth rate (CAGR) of 5.8%. From a valuation of US$11,453.3 million in 2023, the market is expected to experience gradual but significant expansion driven by the continuous evolution of the animal healthcare sector and ongoing innovation in veterinary medicine.
The veterinary antibiotics market is witnessing steady growth, fueled by the increasing demand for animal healthcare services and the relentless pursuit of advancements in veterinary therapeutics. As the global population continues to grow, so does the demand for animal-derived products, driving the need for effective antibiotics to ensure the health and well-being of livestock and companion animals.
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Innovation and Expanding Animal Care Fuel Market Growth
The veterinary antibiotics market is poised for consistent growth, reaching an estimated value of US$20.2 billion by 2033. This growth is attributed to the continuous innovation within the animal healthcare industry and the increasing emphasis on pet health.
Tetracycline Reigns Supreme in Food Animal Production
Tetracycline antibiotics are expected to maintain their leading position within the veterinary antibiotics market. Their broad-spectrum effectiveness makes them a popular choice for treating infections in animals raised for food production.
Rising Pet Ownership and Zoonotic Disease Concerns Drive Demand
The growing number of pet owners worldwide is leading to a heightened awareness of pet health. Additionally, the increasing concern about zoonotic diseases, which can be transmitted from animals to humans, is driving the demand for effective veterinary antibiotics.
Key Takeaways:
- The global veterinary antibiotics market is expected to reach US$20,154.0 million by 2033, reflecting a steady growth at a CAGR of 5.8%.
- The expanding animal healthcare industry, rising pet ownership, and increasing awareness of zoonotic diseases are key drivers for market growth.
- The dominance of tetracycline antibiotics used in food production animals is anticipated to continue.
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How Key Players are Contributing to the Veterinary Antibiotics Market:
The veterinary antibiotics market is seeing an increase in collaboration between players. The primary reason is that collaborations provide companies access to a greater range of products and a more diverse technology set. Antibiotics generated as a result of this cooperation are of higher quality and manufactured faster.
Recent Developments Observed by FMI:
- The ‘Nandi’ Portal was introduced in June 2023 to enable online approval of new veterinary drugs and vaccines in India. Nandi is an acronym for New Drug and Immunization Device Approval. As the entire form indicates, Nandi intends to make it easier for novel veterinary medications and vaccinations to receive NOCs.
- For the Indian Pharmacopoeia (IP) 2022, the Indian Pharmacopoeia Commission (IPC) introduced seven new veterinary monographs and eight new chemical monographs with the intention of boosting both public and animal health in the nation. Carprofen pills, Pimobendan capsules, Selamectin, Tilmicosin, Tilmicosin injectable, and Triclabendazole are among the recently released veterinary monographs.
- A partnership between the Pride Veterinary Medical Community and the United States-based animal health technology business Covetous was announced in June of 2021. Covetrus is situated in the United States. With the help of this partnership, Covetrus can offer cutting-edge veterinary medicine, which in turn empowers veterinary healthcare professionals.
- Adiva GmbH and Bayer AG partnered to produce therapeutic antibodies for veterinary medicine in April 2019.
Key Players in the Global Market:
- Zoetis Inc.
- Merck & Co.
- Bayer AG
- Sanofi
- Eli Lilly and Company
- Ceva Sante Animale
- Others
Veterinary Antibiotics Market Segmentation:
By Product Type:
- Tetracyclines
- Penicillins
- Macrolides
- Sulphonamides
- Aminoglycosides
- Others
By Route of Administration:
- Premixes
- Injections
- Oral Powders
- Oral Solutions
- Others
By Animal Type:
- Food-processing Animals
- Companion Animals
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
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