PUBLISHER: The Business Research Company | PRODUCT CODE: 1429680
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429680
Veterinary antibiotics constitute a category of animal medications designed to combat infectious diseases in animals. They achieve this by eliminating microorganisms such as bacteria and parasites, hindering the growth of their cell walls to effectively combat infections and diseases in animals, thereby enhancing the health conditions of the animals.
The primary product types within veterinary antibiotics encompass anti-parasitic drugs, anti-bacterial medications, non-steroidal anti-inflammatory drugs (NSAIDs), and other related products. NSAIDs serve as a connection point between the production and activity of prostaglandins (enzymes) involved in inflammation. Approved veterinary NSAIDs find application in companion animal care, specifically in mitigating pain and swelling associated with osteoarthritis in dogs and horses. The administration of veterinary antibiotics includes various methods such as premixes, injections, oral powders, oral solutions, and other forms, catering to both farm animals and companion animals.
The veterinary antibiotics research report is one of a series of new reports from The Business Research Company that provides veterinary antibiotics statistics, including veterinary antibiotics industry global market size, regional shares, competitors with veterinary antibiotics share, detailed veterinary antibiotics segments, market trends and opportunities, and any further data you may need to thrive in the veterinary antibiotics industry. The veterinary antibiotics research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The veterinary antibiotics market size has grown rapidly in recent years. It will grow from $2.2 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The expansion observed in the historical period can be attributed to heightened spending on pets and shortages of generic medicines. Factors that had an adverse impact on growth during the historical period included shortages of veterinarians, insufficient awareness, improper use of medicines, and stringent regulatory measures.
The veterinary antibiotics market size is expected to see strong growth in the next few years. It will grow to $3.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period can be ascribed to the rising penetration of pet insurance, an increase in pet ownership, growing government initiatives, and heightened awareness about animal health. Key trends in the forecast period involve strategic collaborations and partnerships, the development of new chewable medicines, the creation of combination parasiticides, advancements in treatments for arthritis, and the production of generic drugs for animal care.
The veterinary antibiotics market is experiencing growth due to an increase in the prevalence of zoonotic diseases. Zoonotic diseases are infectious conditions caused by microorganisms, infections, and parasites that can be transmitted between animals and humans. Common zoonotic pathogens such as salmonella and campylobacter, found in the intestines of animals, pose a potential threat to humans through the food chain. A study by FoodNet (Centers for Disease Control and Prevention, USA) revealed that zoonotic diseases cause 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths. The need for early diagnosis in animals to prevent the transmission of these diseases to humans is a significant driver of the veterinary antibiotics market.
The growth of the veterinary antibiotics market is further propelled by the rising rate of pet ownership. Pet ownership involves the responsible care of domesticated animals, meeting their physical, emotional, and medical needs. With an increasing number of pets, the demand for antibiotics to treat and prevent illnesses in pets is on the rise. The growth in pet ownership is evident, as reported by the North American Pet Health Insurance Association, which noted a substantial increase in insured pets from 4.4 million in 2021 to 5.36 million by the end of 2022. This surge in pet ownership contributes to the expanding patient base requiring veterinary care and antibiotics, thus fostering the growth of the veterinary antibiotics market.
An emerging trend in the veterinary antibiotics market is the increasing collaboration between companies. Collaboration allows companies to combine technologies, diversify their product range, and enhance the quality and speed of antibiotic production. Notably, GlobalVetLink, a US-based provider of software services, collaborated with Veterinary Innovative Partners to implement the GlobalVetLink Compliance Assistant, a comprehensive SaaS platform simplifying animal health.
Major players in the veterinary antibiotics market are gaining a competitive edge by developing telemedicine platforms for pet healthcare. Telemedicine involves remote diagnosis, consultation, treatment, and monitoring of patients using telecommunications technology. Cargill Inc., a US-based food corporation, launched Zoonivet, a digital pet-care app in June 2023, facilitating pet healthcare through video calls, with plans to offer surgery, home diagnostic services, medication, pet food, and boarding in key Indian markets.
The veterinary antibiotics prescription drugs market operates under the regulatory framework of Section 503(f) of the Food, Drug, and Cosmetic Act by the FDA. This regulation mandates cautionary statements on veterinary antibiotic drug labels, emphasizing that these drugs can only be used with the permission of a licensed veterinarian. Stricter actions are taken against the sale and use of antibiotic prescription drugs without proper authorization, ensuring compliance with regulations governing veterinary antibiotic manufacturers and sellers.
Major companies operating in the veterinary antibiotics market report are Boehringer Ingelheim GmbH, Zoetis, Inc., Merck & Co., Inc., Elanco Animal Health Incorporated, Ceva Sante Animale, Virbac Group, Vetoquinol S.A., Phibro Animal Health Corporation, Kyoritsu Seiyaku Corporation, Dechra Pharmaceuticals PLC, Merck/MSD Animal Health , Bayer Animal Health China , China Animal Healthcare Ltd., China Animal Husbandry Industry Corporation Ltd. (CAHIC) , Elanco, Guangdong Wens Dahuanong Biotechnology Co. Ltd. , IDEXX Laboratories , Merial Pusuch as Biological Engineering, Ceva Sante Animale , Nimrod Veterinary Products Ltd., Bimeda , VIRBAC SA , Orion Animal Health , Laboratorios Calier, SA , Petmedix , Eco Animal Health , Teknofarma , Farmavet , Candioli Pharma , Suanfarma , Marino Ibericamed , MPA veterinary , Lamons Laboratories SA , SUPER'S DIANA , Swetrade Pharmaceuticals AB, Animalcare, VIC Animal Health , AVZ animal health , Provet Group , VitOMEK LCC , Micro-plus , Biowet , Bioveta , Brovapharma , Evrovet , Ukrvetprompostach , VELELEK d.o.o , Veterinarski Zavod Subotica , VetPlanet , Delos Medica, Vetro Solutions , Belfarmacom, IDT Biologika, UCBVET, Syntec , Sauvet , Vetanco , Chemo Argentina , Brouwer , Agrovet Market Animal Health , Lemavet, Saudi Pharmaceutical Industries (SPI) , DBK Pharma S.A.E., MSD Animal Health South Africa
North America was the largest region in the veterinary antibiotics market in 2023. Asia-Pacific was the second-largest region in the global veterinary antibiotics market share. The regions covered in the veterinary antibiotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the veterinary antibiotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The veterinary antibiotics market consists of sales of antivirals, antiprotozoals, antifungals, aminoglycosides, beta-lactams, fluoroquinolones, glycopeptides, and lipopeptides. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Veterinary Antibiotics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary antibiotics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary antibiotics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The veterinary antibiotics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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