The global veterinary antibiotics market is poised for steady growth, with forecasts indicating a significant expansion to reach USD 20,154.0 million by 2033. This projection represents a Compound Annual Growth Rate (CAGR) of 5.8% from its anticipated valuation of USD 11,453.3 million in 2023.
Veterinary antibiotics play a crucial role in animal health and welfare, providing essential treatment for bacterial infections across various species. As livestock production intensifies and pet ownership rises worldwide, the demand for effective veterinary antibiotics continues to escalate.
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Furthermore, the growing awareness of the importance of giving their dogs basic medical care is driving the demand for veterinary antibiotics. The veterinary antibiotics market has grown dramatically as a result of a number of causes, including the prevalence of zoonotic infections and the introduction of laws meant to curb the spread of animal diseases.
Both the growing demand for pet insurance and the rising costs associated with animal healthcare are expected to fuel this market’s expansion. The veterinary antibiotics market players are likely to have substantial growth potential in the upcoming years due to the expansion of the companion animal population and unexplored growing countries like China, India, and Brazil.
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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