In 2023, the Global Veterinary Antibiotics Market Revenue is expected to be worth US$ 11,453.3 million. The Veterinary Antibiotics market is predicted to grow at a slow 5.8% CAGR to US$ 20,154.0 million by 2033.
The growing animal healthcare business, together with continued innovation, is propelling the Veterinary Antibiotics market forward. Based on product type, tetracycline is expected to have the largest market share in the global demand for Veterinary Antibiotics. This is owing to its widespread use in livestock used for food production.
Furthermore, people’s greater awareness of the importance of providing basic medical care for their pets contributes to an increase in demand for Veterinary Antibiotics. The prevalence of zoonotic diseases, as well as the execution of regulations aimed at preventing the transmission of animal diseases, are only a few of the causes that have greatly contributed to the expansion of the Veterinary Antibiotics industry.
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Rising expenditures on animal healthcare, as well as increased demand for pet insurance, are expected to drive additional expansion in this market. Untapped growing markets such as China, India, and Brazil, as well as expansion in the overall companion animal population, are predicted to offer considerable growth potential to Veterinary Antibiotics market competitors in the future years.
Veterinary Antibiotics Market: Drivers and Restraints
increased awareness of zoonotic disease, increased incidence of disease outbreaks in animals, and rising demand for animal-derived food products are expected to boost the Veterinary Antibiotics market share.
Furthermore, stricter laws to avoid animal infections, increased animal population, and increased pet adoption are projected to drive global demand for Veterinary Antibiotics.
Several factors, including the burgeoning market for pet health insurance and the rising cost of medical care, are driving up global sales of Veterinary Antibiotics.
The rise of antibiotic-resistant bacteria in livestock is a major concern. Pathogens found in food-producing animals can be transmitted to humans through direct contact, the food chain, or environmental exposure. Antimicrobial-resistant infections are killing an increasing number of persons in the human population.
According to the World Health Organisation, children under the age of five account for more than one-third of all food-borne illness-related deaths. The majority of food-borne diseases are caused by microbes such as bacteria.
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Veterinary Antibiotics Market: Regional Overview
North America maintained the dominant revenue share of 35.6% in the worldwide Veterinary Antibiotics market in 2022, owing to expanding animal farming, rising expenditures on animal healthcare, and rising demand for animal-derived food products. This was due to the increased need for animal food items in the region.
The Asia Pacific area is predicted to grow at a CAGR of 5.4% over the forecast period. The APAC market for animal-derived food is rising as a consequence of factors such as increased demand for animal-derived food items and an expanding animal population.
The Asia Pacific Veterinary Antibiotics market is predicted to grow at a higher rate in the region due to rising poultry, meat, and dairy consumption and increased awareness of animal health in growing nations such as India.
Veterinary Antibiotics Market: Key Players
Some of the key players in the Veterinary Antibiotics market involves Zoetis, Inc., Merck & Co., Inc., Bayer AG, Sanofi, Eli Lilly and Company, Ceva Sante Animale and others.
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