Veterinary Antibiotic Market Primed to Soar Past US$ 20,154.0 Million by 2033

After surpassing US$ 11,453.3 million in 2023, the veterinary antibiotics market sector is predicted to achieve a valuation of US$ 20,154.0 million by 2033. The market share of veterinary antibiotics is projected to increase at a compound annual growth rate (CAGR) of 5.8% between 2023 and 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.

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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 :

• In 2022, the global market size stood at US$ 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.

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.

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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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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