The veterinary antibiotics market size is anticipated to surpass USD 11,453.3 million in 2023 and is likely to attain a valuation of USD 20,154.0 million by 2033. The veterinary antibiotics market share is projected to thrive at a CAGR of 5.8% from 2023 to 2033.
An increase in households owns dogs, cats, and other companion animals. Demand for veterinary treatment, particularly the administration of antibiotics, has risen as pet owners try to protect the health and well-being of their animals. Animal welfare knowledge and concerns are increasing on a global level, which has prompted more focus on preventing and diagnosing animal illnesses. This emphasis on the health and welfare of animals promotes the demand for veterinary antibiotics as a component of comprehensive disease control methods, which subsequently amplifies market growth.
Investments in the field of animal healthcare have increased as the significance of animal health is more recognized. New veterinary antibiotics and associated medicines are being developed with funding from pharmaceutical corporations and research organizations, which encourages market expansion.
Growing food quality safety, concerns are likely to proliferate market growth during the forecast period. Consumers are increasingly more concerned about the quality and safety of their food, and they also expect animal products to be free of toxins and diseases. To prevent and cure bacterial infections in livestock, the use of antibiotics in animal production might help assure the safety of the food.
Access to veterinary care and medications, including antibiotics, is improved by the growth of veterinary services, hospitals, and clinics, especially in emerging economies. The veterinary antibiotics industry is expanding as a result of easier accessibility and convenience.
Key Takeaways from Veterinary Antibiotics Market Report:
- In 2022, the global market size stood at USD 10,911.5 million.
- In 2022, tetracyclines segment captured 48.20% of global market shares.
- In 2022, the premixes segment captured 46.10% of global market shares.
- North America held 35.6% shares in the global veterinary antibiotics market in 2022.
- Asia Pacific is projected to thrive at a CAGR of 5.4% from 2023 to 2033.
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Recent Developments Observed by FMI:
- The ‘Nandi’ Portal was launched in June 2023 to allow online licensing of novel veterinary medications and vaccinations in India. New Drug and Immunization Device Approval is referred to by the abbreviation Nandi. The entire form makes it clear that Nandi wants to make it simpler for innovative veterinary drugs and vaccines to get NOCs.
- To improve public and animal health in the country, the Indian Pharmacopoeia Commission (IPC) approved seven new veterinary monographs and eight new chemical monographs for the Indian Pharmacopoeia (IP) 2022. The recently approved veterinary monographs include Carprofen tablets, Pimobendan capsules, Selamectin, Tilmicosin, Tilmicosin injectable, and Triclabendazole.
- In June 2021, the Pride Veterinary Medical Community and the American company Covetous, which specializes in animal health technologies, announced their collaboration. Covetous is located in the United States. This collaboration allows Covetrus to provide cutting-edge veterinary care, empowering veterinary healthcare professionals in the process.
Key Players in the Global Market:
- Zoetis Inc.
- Merck & Co.
- Bayer AG
- Sanofi
- Eli Lilly and Company
- Ceva Sante Animale
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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