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Meeting the Needs of a Growing Population: The Evolving Global Veterinary Antibiotics Market

Author : Bhushan S | Published On : 24 Apr 2024

The global veterinary antibiotics market is projected to have a value of US$11,453.3 million in 2023. By 2033, the veterinary antibiotics market is projected to have grown at a slow 5.8% CAGR to reach US$ 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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Innovation and Expanding Animal Care Fuel Market Growth

The veterinary antibiotics market is poised for consistent growth, reaching an estimated value of US$20.2 billion by 2033. This growth is attributed to the continuous innovation within the animal healthcare industry and the increasing emphasis on pet health.

Tetracycline Reigns Supreme in Food Animal Production

Tetracycline antibiotics are expected to maintain their leading position within the veterinary antibiotics market. Their broad-spectrum effectiveness makes them a popular choice for treating infections in animals raised for food production.

Rising Pet Ownership and Zoonotic Disease Concerns Drive Demand

The growing number of pet owners worldwide is leading to a heightened awareness of pet health. Additionally, the increasing concern about zoonotic diseases, which can be transmitted from animals to humans, is driving the demand for effective veterinary antibiotics.

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.

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)