Global Veterinary Antibiotics Market Growth, Forecasted to Reach USD 20,154.0 Million by 2033 at a 5.8% of CAGR

Veterinary Antibiotics Market
                                                                      Global Veterinary Antibiotics Market

The global veterinary antibiotics market is set for steady growth over the next decade, with its market value expected to rise from USD 11,453.3 million in 2023 to an estimated USD 20,154.0 million by 2033. This expansion reflects a compound annual growth rate (CAGR) of 5.8% during the forecast period.

Veterinary antibiotics play a crucial role in maintaining animal health by preventing and treating bacterial infections. These antibiotics are essential for ensuring the health and productivity of livestock, as well as the wellbeing of companion animals.

Request Your Detailed Report Sample With Your Work Email :
https://www.futuremarketinsights.com/reports/sample/rep-gb-4295

In addition, the market for veterinary antibiotics is being driven by people’s increasing realization of how important it is to provide their dogs with basic medical care. The market for veterinary antibiotics has experienced significant growth due to several factors, such as the emergence of regulations aimed at preventing the spread of animal illnesses and the frequency of zoonotic infections.

The rise of this market is anticipated to be fueled by the rising costs of animal healthcare as well as the growing demand for pet insurance. Given the development of the companion animal population and the untapped potential of developing nations like China, India, and Brazil, the participants in the veterinary antibiotics market are expected to have significant room to grow in the years to come.

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.

Customization Available:
https://www.futuremarketinsights.com/customization-available/REP-GB-4295

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)

In-Depth Market Overview: Purchase Now to Access:
https://www.futuremarketinsights.com/checkout/4295

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these