The global veterinary antibiotics market is projected to experience steady growth over the next decade, according to recent market analysis. Valued at approximately USD 11.45 billion in 2023, the market is expected to expand at a compound annual growth rate (CAGR) of 5.8%, reaching an estimated USD 20.15 billion by 2033.
The anticipated growth, although considered sluggish, reflects the increasing demand for veterinary antibiotics driven by the rising incidence of animal diseases and the growing emphasis on animal health and welfare. This market expansion underscores the critical role of veterinary antibiotics in maintaining the health of livestock and pets, which is vital for ensuring food security and public health.
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Industry stakeholders are closely monitoring this trend, as the market’s gradual growth presents both challenges and opportunities for innovation and improvement in veterinary healthcare. The need for effective antibiotics in the veterinary sector continues to be a significant factor in driving research and development efforts aimed at enhancing the efficacy and safety of these medications.
As the market evolves, key players are expected to focus on strategic collaborations, advanced product development, and regulatory compliance to navigate the complexities of the veterinary antibiotics landscape.
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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