Veterinary Antibiotics Market – Insights
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).
Global Animal Products Consumption (Kg Per Capita) 2015 & 2030
Source: Food and Agriculture Organization
Increasing demand for meat and poultry is expected to drive the veterinary antibiotics market revenue
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.
Veterinary Antibiotics Market Restraints
Although antibiotics are important for treating infections, using antibiotics can lead to antibiotic-resistant infections in animals and humans consuming them. Factors such as side effects of antibiotics and stringent government regulations for antibiotics use in emerging economies are expected to hamper veterinary antibiotics market growth during the forecast period. According to the new guidelines published by the World Health Organization (WHO), in 2017, the farmers and the food industry is recommended to stop using antibiotics routinely to promote growth and prevent disease in healthy animals.
Veterinary antibiotics undergo a rigorous review process by the Food and Drug Administration (FDA), which approves all antibiotics used for food producing animals. All products approved by the FDA for use in food-producing animals must pass significant human- and food-safety benchmarks.
Furthermore, demand for organic livestock is another major factor restraining market growth. According to the U.S. Department of Agriculture National Agricultural Statistics Service (USDA NASS), the U.S. organic broiler chicken inventories grew 145% by 2016. This demand for organic products is attributed to increased consumer concern about health.
Veterinary Antibiotics Market - Regional Insights
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.
Global Veterinary Antibiotics Market Value (US$ Bn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2018)
Veterinary Antibiotics Market - Competitive Landscape
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.
Antibiotics are used in livestock production to treat diseases in animals, to control infection of disease among healthy animals, to prevent disease in animals, and to increase animal productivity. Antibiotics keep poultry and livestock healthy, thereby reducing the chance of bacterial transmission from animals to humans. Majority of antibiotics drugs approved for use in food-producing animals through their feed or water are available over-the-counter.
Increasing demand for animal protein and growing demand for food production from animal source is leading driver for use of antibiotics in animal agriculture. Several countries across the world produce meat and aquaculture products. According to Organization for Economic Co-Operation and Development (OECD), an average U.S. adult consumed 198 pounds of meat in 2014. According to the WHO 2015 report, South East Asia region (SEAR) has developed intensive farming systems, leading to the rising consumption of fertilisers, antibiotics, and pesticides.
However, over-use and misuse of antibiotics in animals and humans is rising threat of antibiotic resistance. Therefore, governments across the globe are banning or limiting use of antibiotics in animal production and growth. For instance, in November 2018, European Union (EU) approved restrictions on Veterinary Antibiotics. The new legislation, which is expected to become law by 2022, bans use of antibiotics for animals, which are important for human medicine and prohibits use of any antimicrobials in livestock without a prescription from a veterinary doctor. In 2016, the United Nations General Assembly (UNGA) brought together the global community in declaring antimicrobial resistance (AMR) as a major concern and a global commitment to fight an issue through multi-pronged approaches.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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