In 2023, the value of the worldwide veterinary antibiotics market is projected to reach USD 11,453.3 million. By 2033, the veterinary antibiotics market is projected to have grown at a slow 5.8% CAGR to reach USD 20,154.0 million.
The veterinary antibiotics market is rising due to the growing animal healthcare sector and continuous innovation in the sector. Based on product type, tetracycline is expected to hold a dominant market share in the global demand for veterinary antibiotics. This is a result of its extensive use in animals raised for food.
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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.
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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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