Veterinary Antibiotics Market Growth and Business Opportunities for New Market Entrants

Veterinary antibiotics combat infections caused by bacteria. Antibiotics are used for a variety of purposes in the farming of livestock, including therapeutic and prophylaxis or preventative treatment against a number of diseases. Antibiotics are also used in herds or flocks to promote growth. Antibiotic powders and tablets are fed to animals for increasing livestock production and nutritional level.

The global veterinary antibiotics market size was valued at US$ 1.2 billion in 2017, and is expected to witness a CAGR of 3.8% over the forecast period (2018 - 2026).

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Increasing demand for livestock products including meat, milk, and other animal food products worldwide is expected to boost the veterinary antibiotics market growth. Moreover, increasing incidence of diseases in livestock is likely to aid in expansion of this market. According to the United Nations 2015 report, antibiotics consumption in livestock is expected to reach 105,600 tons by 2030, globally due to increases in the number of animals raised for food production.

Furthermore, in order to meet increasing demand for animal protein, majority of the farmers are transitioning to intensive agriculture and often use antibiotics to optimize production. According to the Organisation for Economic Co-operation and Development (OECD) 2015 data, with increase in human population and increased demand for meat, estimated antibiotic use in food animals will increase by 67% globally from 2010 to 2030.

On the basis of region, the global veterinary antibiotics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America held the largest revenue share of the global veterinary antibiotics market in 2017, owing to rising animal farming coupled with increasing expenditure on animal healthcare and growing demand for animal-derivative food products. According to the FDA 2014 report, of all antibiotics sold in the U.S., around 80% were sold for use in animal agriculture. As per the same source, in the U.S., the total amount of antibiotics used in food-producing animals increased by 16% between 2009 and 2012, to 14.61 million kilograms per year.

Asia Pacific veterinary antibiotics market is anticipated to grow at the highest growth rate, due to rising poultry, meat and dairy consumption, and rising awareness about animal health, especially in the emerging economies such as India. According to the study published in Plos Journal in 2016, the national diet of India has radically changed, with increased meat consumption among the young urban generation. This growing demand for animal proteins has resulted in intensive breeding of fish, poultry, and pigs with the routine use of antibiotics as growth promoters. Moreover, according to the Organization for Economic Co-operation and Development (OECD), China is the major producer of pork meat with around 31.3 kg/capita pork meat produced in 2016, followed by poultry and beef.

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Key players operating in the global veterinary antibiotics market include Bayer AG, Boehringer Ingelheim GmbH, Ceva Sante Animale, Crystal Pharma, Dechra Pharmaceuticals PLC, Huvepharma AD, Eli Lilly Company, Elanco, Merck & Co., Inc., Sanofi, Vetoquinol S.A., Virbac, and Zoetis, Inc.

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This release was published on openPR.