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The Veterinary Antibiotics Market Size is valued at USD 4898.48 Million in 2023 and is predicted to reach USD 6316.37 Million by the year 2031 at a 3.34 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The market is in great demand due to the increasing number of pet diseases worldwide, which leads to market growth.
- The need for efficient veterinary antibiotic treatments is driven by the rising incidence of infectious diseases in both domestic and farm animals, which is driving market expansion.
- North America dominated the market and accounted for a global revenue share in 2023.
- One significant concern is restraining the need for a strict evaluation method and the scarcity of expertise in veterinary antibiotics.
Antibiotics can be used to treat a single animal with clinical disease or a large group of animals. In many countries, antibiotics are commonly added to commercial feed for growth promotion in chickens. Antibiotics have effectively improved the rate and efficiency of gain in swine, cattle, and poultry. The different applications of antibiotics in food animals have been described as therapeutic use, prophylactic use, and subtherapeutic use. The global Veterinary antibiotics market is driven by end-use verticals consisting of dairy, meat industry applications. The increasing consumer preference for various dairy products and the rise in companion animal ownership is expected to increase the demand. Increasing animal disease outbreaks and increasing initiatives concerning animal health and welfare is anticipated to further strengthen its demand over the forecast period.
Market Segmentation
The Global Veterinary Antibiotics market is categorized on the basis of Product Type, Mode Of Delivery, Animal Type, and region. On the basis of Product Type, the market is segmented into Tetracyclines, Penicillins, Sulfonamides, Macrolides, Aminoglycosides, Lincosamides, Fluoroquinolones, Other Antimicrobials and Antibiotics. Based on Mode of delivery, the market is segmented into Premixes, Oral Powder, Oral Solution, Injection, and Others. Whereas Animal type segment includes Food-Producing Animals (Cattle, Pigs, Poultry, Sheep and Goats, Other Food-producing Animals) and Companion Animals (Dogs, Cats, Horses, Other Companion Animals). Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. On the other hand, North America is expected to dominate the market during the analysis of the forecast period.
Recent Developments:
- In Aug 2023, Bayer introduced the AMR Action Fund, an innovative collaboration aimed at delivering 2-4 novel antibiotics to patients by 2030. These medicines are necessary in order to combat the exponential increase of antibiotic-resistant infections, often known as antimicrobial resistance or AMR.
- In March 2022, Merck Animal Health got approval from the U.S. Food and Drug Administration for NUFLOR-S (florfenicol) Injectable Solution and AROVYN (tulathromycin injection). These are prescription antibiotics with a wide range of uses that kill the main bacteria that cause pig respiratory disease.
Competitive Landscape
Some of The Key Players in The Veterinary Antibiotics Market:
- Bayer AG
- Boehringer Ingelheim GmbH
- Ceva Sante Animale S.A.
- Crystal Pharma
- Dechra Pharmaceuticals PLC
- Huvepharma AD
- Eli Lilly Company
- Elanco
- Merck & Co., Inc.
- Sanofi S.A.
- Vetoquinol S.A.
- Virbac
- Zoetis, Inc.
- Inovet Group
- Dopharma
- Other Prominent Players
The Veterinary Antibiotics Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 4898.48 Million |
|
Revenue Forecast In 2031 |
USD 6316.37 Million |
|
Growth Rate CAGR |
CAGR of 3.34 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product Type, By Mode Of Delivery, By Animal Type |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Bayer AG, Boehringer Ingelheim GmbH, Ceva Sante Animale S.A., Crystal Pharma, Dechra Pharmaceuticals PLC, Huvepharma AD, Eli Lilly Company, Elanco, Merck & Co., Inc., Sanofi S.A., Vetoquinol S.A., Virbac, Zoetis, Inc., Inovet Group, Dopharma, and Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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