Veterinary Antibiotics Market
Number of pages: 100 | Report Format: PDF | Published date: March 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 4.76 billion |
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Revenue Forecast in 2031 |
US$ 6.23 billion |
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CAGR |
3.40% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Dosage Form, Animal Type, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global veterinary antibiotics market was valued at US$ 4.76 billion in 2023 and is expected to register a revenue CAGR of 3.40% to reach US$ 6.23 billion by 2031.
Veterinary Antibiotics Market Fundamentals
Veterinary antibiotics are a class of drugs used to treat animal bacterial infections. Antibiotics work by inhibiting bacterial growth and replication. Different types and generations of antibiotics are available in veterinary medicine, including penicillin, cephalosporins, tetracyclines, macrolides, aminoglycosides, and fluoroquinolones. Tetracyclines are the most common veterinary antibiotic used to treat certain infectious diseases caused by bacteria and certain microorganisms in animals.
Veterinary antibiotics are important in treating and preventing bacterial infections in animals. They control infections in pets and livestock, including cows, pigs, chickens, and other animals raised for food. Without veterinary antibiotics, many animals would suffer and die from bacterial infections that could spread to other animals or even humans. In addition to treating bacterial infections, veterinary antibiotics are also used in animal surgical procedures to prevent infections and treat wounds and other injuries that could become infected.
The usage of antibiotics in animals can also have a positive impact on food safety. When treated with antibiotics, animals are less likely to develop infections that could be transmitted to humans through the food chain. Antibiotics in animals can be administered in various ways, including orally, intravenously, and topically. The dosage and duration of treatment depend on the type and severity of the infection, the animal’s age, and weight.
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Veterinary Antibiotics Market Dynamics
The increasing demand for animal-derived food products primarily drives the global veterinary antibiotics market. Animal-derived food products, such as milk, eggs, meat, and other products, are considered major sources of nutrition and important in a human diet. Antibiotics in such animals are used to stimulate growth and maintain optimal health. Additionally, veterinary antibiotics in such animals increase efficiency and growth rate, treat clinically unhealthy animals, and reduce the occurrence of infectious diseases.
The veterinary antibiotics market is also expanding with the increasing frequency of zoonotic diseases, which are contagious diseases brought on by parasites, pathogens, and microscopic organisms that transmit from animals to people. Zoonotic diseases cause a risk to human health as they can spread through the food chain. Furthermore, zoonotic diseases have received priority attention from the World Health Organization (WHO) and other international organizations, such as the Food and Agricultural Organization of the United Nations and the International Organization for Animal Health. As zoonosis affects humans and animals, it demonstrates the one health approach which addresses both animal and human health issues. These organizations collaborate closely, develop collaborative plans, and share responsibility for the multi-sectoral activity.
Increasing awareness of veterinary antibiotics is anticipated to fuel the revenue CAGR of the global market. For instance, Keep Antibiotics Working is a campaign held every year in November. The U.S. Food and Drug Administration launched this campaign to educate the public about the importance of using antibiotics responsibly in both human and veterinary medicine. It encourages and helps people to talk to their healthcare providers and veterinarians about the appropriate use of antibiotics.
However, extensive usage of antibiotics in animals can lead to antibiotic resistance, becoming a major concern in animal health. This can restrain the market revenue growth to some extent.
Veterinary Antibiotics Market Ecosystem
The global veterinary antibiotics market is analyzed from four perspectives: product type, dosage form, animal type, and region.
Veterinary Antibiotics Market by Product Type
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Based on product type, the global veterinary antibiotics market is segmented into tetracycline, penicillin, sulfonamides, macrolides, fluoroquinolones, and other drug classes.
The tetracycline segment dominated the global veterinary antibiotics market with the largest market revenue share in 2022, owing to its high efficacy in treating bacterial infections, such as pneumonia and other respiratory tract infections of the skin, eye, lymphatic, intestinal, genital, and urinary systems, and diseases carried by ticks, lice, mites, and sick animals. Tetracycline is a broad-spectrum antibiotic also effective against certain types of parasites. Additionally, tetracycline is relatively economical and easy to administer.
The fluoroquinolones segment is anticipated to show high revenue growth during the forecast period. This is attributed to treating many bacterial infections, including those resistant to other antibiotics. Additionally, animals generally tolerate fluoroquinolones and have few side effects. They are also relatively easy to administer and can be used to treat both chronic and acute infections. Overall, fluoroquinolones are an important antibiotic for veterinarians in treating bacterial infections.
Veterinary Antibiotics Market by Dosage Form
Based on the dosage form, the global veterinary antibiotics market is segmented as oral powders, injections, oral powders, oral solutions, and others.
The oral powders segment dominated the global veterinary antibiotics market with the largest market revenue share. Oral powders contain vitamins, microminerals, and other supplements as diluents. The solution comes in a concentrated form; only a small percentage is added to the feed. This animal dosage form provides several advantages, such as improved feed efficiency, reduced wastage, and enhanced animal health. This method allows for precise dosing of nutrients and medications, which can improve the overall health and productivity of the animals. Oral powders can be easily transported and stored, reducing logistical costs and increasing shelf life. Overall, oral powders are a convenient and effective way to ensure optimal animal nutrition and health.
The injections segment is anticipated to register high revenue growth during the forecast period. This is attributed to the fast delivery of drugs directly into the bloodstream, which allows for quick and effective absorption. This method also allows for precise dosing. Additionally, injection antibiotics bypass the digestive system, reducing the risk of adverse reactions or interactions with other medications.
Veterinary Antibiotics Market by Animal Type
Based on animal type, the global veterinary antibiotics market is segmented into food-processing animals and companion animals.
The food-producing animal segment dominated the global veterinary antibiotics market with the largest revenue share in 2022. Veterinary antibiotics are used in food-producing animals to promote growth and treat diseases. However, antibiotics are important in maintaining animal health and welfare. Their usage is regulated to ensure safety and effectiveness. Additionally, antibiotics are extensively utilized in food-producing animals in developing countries to improve animal health and growth. This method has certain economic benefits for both producers and consumers.
Veterinary Antibiotics Market by Region
Based on the region, the global veterinary antibiotics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the highest revenue share of the market in 2022, owing to its increasing population of companion and livestock animals. According to the American Pet Products Association’s 2021-2022 National Pet Owners Survey, about 70% of the U.S. households, or around 90.5 million families, own a pet (APPA). The increasing population is raising health concerns among these animals. Moreover, the growing demand for animal-based food in the region is anticipated to increase the need for veterinary antibiotics during the projected period.
The presence of many top players in this region characterizes the Europe veterinary antibiotics market. These market players are working to develop and market new antibiotics that are effective against a wide range of microorganisms. The global veterinary antibiotics market in Europe is also rising due to increasing awareness about veterinary antibiotics.
The Asia Pacific veterinary antibiotics market is anticipated to register growth with a high revenue share during the forecast period. This is attributed to rising awareness of zoonotic diseases and the need for effective antibiotics. Moreover, rising concerns about animal health in this region, coupled with new initiatives by government and non-government organizations for animal health, are also anticipated to help in the revenue growth of the veterinary antibiotics market in Asia Pacific.
Veterinary Antibiotics Market Competitive Landscape
Several companies emphasize business growth strategies, such as new launches, product approvals, and other activities, such as patents and events. The market observed an increase in acquisitions, partnerships, and cooperation activities as inorganic development strategies. These initiatives have enabled the expansion of future economic business prospects in the global veterinary antibiotics market.
The prominent companies accounting for the largest revenue share in the global veterinary antibiotics market are:
Veterinary Antibiotics Market Strategic Developments
An increase in awareness of veterinary antibiotics and product launches are the key growth opportunities in the global veterinary antibiotics market.
Veterinary antibiotics are a class of drugs used to treat animal bacterial infections. Antibiotics work by inhibiting the growth and replication of bacteria by inhibiting bacterial growth.
The key trend of the global veterinary antibiotics market includes increasing demand for animal-derived food products. Additionally, the veterinary antibiotics market is rising with the increasing prevalence of zoonotic diseases.
The top five players in the global veterinary antibiotics market are Zoetis Services LLC, Phibro Animal Health Corporation, Merck & Co., Bayer AG, and Sanofi S.A.
The tetracycline segment dominates the global veterinary antibiotics market.
*Insights on financial performance are subject to the availability of information in the public domain