VETERINARY ANTIBIOTICS MARKET ANALYSIS

Veterinary antibiotics combat infections are 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.

Global veterinary antibiotics market is estimated to be valued at US$ 1.43 billion in 2022 and is expected to exhibit a CAGR of 3.8 % during the forecast period (2022-2030).

Figure 1. Global Veterinary Antibiotics Market Share (%), by End-use, 2022

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Increasing demand for livestock products are expected to drive growth of the veterinary antibiotics market

 Increasing demand for livestock products including meat, milk, and other animal food products worldwide is expected to boost the global veterinary antibiotics market growth. Moreover, increasing incidence of diseases in livestock is likely to aid in expansion of this market. For instance, according to Food and Agriculture Organization Corporate Statistical Database (FAOSTAT) production data 2020, in India egg production has increased from 78.48 billion in 2014-15 to 122.11 billion in 2020-21. The per capita availability of egg is at 91 eggs per annum in 2020-21.

Figure 2. Global Veterinary Antibiotics Market Share (%), by Region, 2022

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Increasing adoption of companion animals are expected to drive market growth during the forecast period.

Increasing adoption of companion animals has been linked to positive health benefits, such as: cardiac arrhythmia, normalization of blood pressure, less anxiety, greater psychological stability and improved well-being. These benefits have increased the number of pet owners worldwide over the years. For instance, According to the APPA National Pet Owners Survey 2018–19, the U.S. dog population increased from 77.8 million in 2014 to 89.4 million in 2017, while the cat population increased from 85.8 million in 2014 to 95.6 million in 2014.

Global Veterinary Antibiotics Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

However, the COVID-19 pandemic had a negative impact on the global veterinary antibiotics market, owing to decrease in demand for veterinary antibiotics due to COVID-19. In this case, there was a limited access to current and potential customers has severely restricted  the ability of market participants to sell new antimicrobial susceptibility testing systems and implement systems already sold, thereby reducing the growth of antibiotic production.

Global Veterinary Antibiotics Market: Key Developments

In July 2020, Trianni, Inc., a biotechnology company and Zoetis, an American drug company announced a collaboration to develop transgenic monoclonal antibody platforms for the discovery of new veterinary treatments.

In June 2019, Elanco Animal Health Incorporated, an American pharmaceutical company announced a new global R&D collaboration with AgBiome, Inc., a biotech company to develop nutritional health products for swine. The collaboration further demonstrates Elanco’s commitment to antibiotic stewardship and bringing alternatives to producers’ most difficult challenges.

The research and development collaboration with AgBiome is intended to deliver innovative probiotic solutions to some of swine producers’ greatest gut health challenges. The collaboration will leverage AgBiome’s proprietary strain identification system and provide Elanco access to AgBiome’s extensive and growing collection of bacteria, viral and fungal strains.

Global Veterinary Antibiotics Market: Restraint

The major factors that hinder growth of the global veterinary antibiotics market include overuse of antibiotics in veterinary products. Growing concern with overuse has led to stricter regulations on the use of antibiotics in food animal production, increasing demand for food grown without antibiotics, and wider application of disease reduction methods. For instance, in 2022, new EU legislation will prohibit all forms of routine antibiotic use in farming, including preventative group treatments.

Key Players

Major 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.