The global veterinary antibiotics market is anticipated to be worth USD 11,453.3 million in 2023. The veterinary antibiotics market is expected to expand at a sluggish CAGR of 5.8% and reach USD 20,154.0 million by 2033.
The expanding animal healthcare industry, combined with the industry's ongoing innovation, is driving growth in the veterinary antibiotics market. Tetracycline is anticipated to hold a leading market share in the global demand for veterinary antibiotics based on product type. This is due to its widespread application in animals used for food production.
Additionally, the demand for veterinary antibiotics is facilitated by people's increased knowledge of how critical providing basic medical care for their pets is. The prevalence of zoonotic diseases and the implementation of legislation intended to stop the spread of animal diseases are just a few factors that have contributed significantly to the growth of the veterinary antibiotics market.
The growth of this market is anticipated to be further propelled by rising expenditures on animal healthcare, as well as increasing demand for pet insurance. It is anticipated that in the coming years, the untapped emerging markets such as China, India, and Brazil, as well as growth in the overall companion animal population, are expected to offer significant growth opportunities to the veterinary antibiotics market players.
| Attribute | Details |
|---|---|
| Veterinary Antibiotics Market Share (2022) | USD 10,911.5 million |
| Veterinary Antibiotics Market Share (2023) | USD 11,453.3 million |
| Veterinary Antibiotics Market Share (2033) | USD 20,154.0 million |
| Veterinary Antibiotics Market Share (2023 to 2033) | 5.8% |
On the other hand, only a limited amount of new antibiotics are being developed, there is a growing resistance to antimicrobials and antibiotics, and there is an increasing focus on good husbandry and hygiene practices. All of these factors are expected to impede the growth of the veterinary antibiotics market.
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Drivers:
It is anticipated that factors such as rising awareness about zoonotic disease, rising incidence of disease outbreaks in animals, and rising demand for food products derived from animals, promoting the veterinary antibiotics market share.
Moreover, the implementation of stringent regulations to prevent animal diseases, elevating the animal population, and increasing pet adoption are likely to drive the demand for veterinary antibiotics across the globe.
The sales of veterinary antibiotics are being driven upwards on a global scale by several factors, including the expanding market for pet health insurance and the rising cost of medical care.
Restraints:
In livestock, the spread of antibiotic-resistant microorganisms is a key concern. Pathogens found in food-producing animals can be transmitted to humans by direct contact between humans and animals or through the food chain and environmental exposure. An increase in people are dying as a result of antimicrobial-resistant diseases in the human population.
According to the World Health Organization, more than one-third of food-borne illness-related deaths occur in children under the age of five. Microbes, such as bacteria, are to blame for the majority of food-borne infections.
Infections caused by bacteria that are resistant to more than one class of antibiotics are becoming increasingly difficult to cure. As a result, veterinarians advise treating animals with lower concentrations of antibiotics.
As a result of these measures, antibiotic use around the world may be greatly reduced. This is expected to restrain the veterinary antibiotics market.
Opportunities:
Reduced anxiety, normalized blood pressure, fewer cardiac arrhythmias, and increased psychological well-being are all linked to the adoption of companion animals. These advantages have helped pet owners worldwide.
Since 2014, the United States dog population has grown from 77.8 million to 89.4 million, and the cat population has grown from 85.8 million to 95.6 million. The growth of allied sectors, such as animal antimicrobials and antibiotics, is anticipated to boost the need for veterinary antibiotics as pet owners' desire to invest in the health and well-being of their pets increases.
Threats:
An antimicrobial or an antibiotic is used to improve the health and productivity of livestock and companion animals. For the sake of animal health and efficacy, numerous authorities have established strict rules to approve animal pharmaceutical goods.
Veterinarian pharmaceutical products must meet rigorous standards set by these regulatory agencies before they may be approved. New veterinary pharmaceutical products, such as antimicrobials, vaccinations, parasiticides, and other pharmaceutical goods, are subject to strict regulatory criteria in countries such as Australia, Japan, and China.
Typically, it can take up to 11 years and cost 75 to 100 million dollars to have a veterinary drug approved in the United States and Europe (from product development to commercialization).
Additionally, it's understandable that the pharmaceutical industry is wary of investing in research and development of antimicrobial and antibiotic drugs to combat novel pathogens and parasite infections. This could be a huge challenge for the veterinary antibiotics market growth.
Principal Consultant
In 2022, 48.20% of the global veterinary antibiotics market for animals was made up of tetracyclines. Tetracyclines have many benefits, such as being the most effective against pathogenic microorganisms, being easily absorbed, having low toxicity, and being cheap compared to other antimicrobial and antibiotic products for animals.
Due to these benefits, this product segment has a large share of the veterinary antibiotics market. During the forecast period, the fluoroquinolones segment is expected to grow at a rate of 8%.
Fluoroquinolones are used more by end users as they work better at low concentrations, get into tissues quickly, and can be given in different ways.
In 2022, 46.10% of the global veterinary antibiotics market came from the premixes segment. The large share of this segment can be explained by the benefits of premixes, such as making it easier to give the medicine and less likely to change shape or absorb water.
During the period of the forecast, the injections segment is expected to have a substantial CAGR, at 4.9%. This veterinary antibiotic market share is expected to grow due to the benefits, like getting drugs right away and seeing their effects quickly.
Owing to the rising animal farming, rising expenditures on animal healthcare, and rising demand for food products derived from animals, North America held the dominant revenue share of 35.6% in the global veterinary antibiotics market in 2022. This was due to the region's growing demand for animal food products.
According to a report published by the FDA in 2014, over 80% of all antibiotics sold in the United States were purchased for application in animal husbandry. According to the same source, the overall quantity of antibiotics administered to animals used for the production of food in the United States climbed by 16.1% between 2009 and 2012, reaching a total of 14.61 million kilos annually.
During the forecast period, the Asia Pacific region is expected to increase at a CAGR of 5.4%. The APAC market for animal-derived food is growing as a result of factors such as an expanding animal population and an increased demand for animal-derived food products.
Due to the expanding poultry, meat, and dairy consumption and increasing awareness of animal health in emerging nations like India, the Asia Pacific veterinary antibiotics market is expected to grow at a faster rate in the region.
The veterinary antibiotics market study shows that national dietary changes in India have been documented. Meat intake among the young urban population has increased significantly over the past few decades.
As a result of the rising demand for animal proteins, fish, poultry, and pigs are now routinely bred with antibiotics to boost growth. In addition, the OECD reports that China is the world's leading producer of pork, with about 31.3 kg/capita produced in 2016, ahead of chicken and beef.
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Companies are increasingly partnering with other players to boost product innovation in the veterinary antibiotics industry. As the veterinary antibiotics industry becomes more competitive, new veterinary medications businesses are expanding into new markets and producing drugs by sharing their knowledge and expertise with other companies.
Growth in the veterinary antibiotics market is anticipated to be fueled by the rising use of pet insurance. The global pet insurance industry is virtually untouched, with exceptionally low penetration rates, giving a tremendous market opportunity for new startups to rise.
New companies are emerging in the veterinary antibiotics market and tapping the market potential.
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:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Product Type, Route of Administration, Animal Type, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is valued at USD 11.4 billion in 2023.
Zoetis Inc., Merck & Co., and Bayer AG are the top market players.
The market is forecast to register a CAGR of 5.8% through 2033.
The Tetracyclines segment is likely to remain preferred through 2033.
Increasing awareness about the zoonotic disease is encouraging sales.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Tetracyclines 5.2. Penicillins 5.3. Macrolides 5.4. Sulphonamides 5.5. Aminoglycosides 5.6. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 6.1. Premixes 6.2. Injections 6.3. Oral Powders 6.4. Oral Solutions 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Animal Type 7.1. Food-producing Animals 7.2. Companion Animals 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Zoetis, Inc. 18.2. Merck & Co. 18.3. Bayer AG 18.4. Sanofi 18.5. Eli Lilly and Company 18.6. Ceva Sante Animale 18.7. Elanco Animal Health 18.8. Virbac 18.9. HIPRA 18.10. Lutim Pharma 19. Assumptions & Acronyms Used 20. Research Methodology
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Veterinary Antibiotics Market
