Veterinary Antibiotics Market to Surpass US$ 1.7 billion by 2026

Published On : Dec 01, 2018

The Global Veterinary Antibiotics Market, by Product Type (Anti-parasitic, Anti-bacterial, Non-steroidal anti-inflammatory drug, and Others), by End Use (Dairy Farm, Poultry Farm, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1.2 billion in 2017, and is projected to exhibit a CAGR of 3.8% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.

The animal health sector is constantly innovating to provide more comprehensive range of products to support animals’ well-being. These include more nutritional feed, immune stimulants to help boost natural defenses, and parasiticides to protect against common tick-borne diseases. Antibiotics are used in food animal production to prevent, control, and treat diseases in animals.

Increasing demand for meat and dairy products is the major factor for increased use of antibiotics in animals. According to the Food and Drug Administration (FDA), the fluid milk consumption in India was recorded at 67.7 million metric tons in 2018, which was around 4% higher than 2017. According to the MIT Center for Collective Intelligence 2016 report, the demand for animal products is projected to increase by 50% from 2013 to 2025.

However, antibiotic resistance in animal agriculture due to overuse of antibiotics is threatening animal health, as well as human health. Therefore, many global organizations have started tackling the challenge of antibiotics resistance. For instance, in 2015, the World Health Organization (WHO) released a global action plan for strategic initiatives such as improving the surveillance of emerging antibiotics-resistant bugs. Antibiotics undergo a rigorous review process by the Food and Drug Administration (FDA), which approves all antibiotics used for food producing animals.

Furthermore, growing demand for organic animal food is expected to limit the requirement of veterinary antibiotics. According to a study published by NCBI in 2016, sales of foods labeled organic have increased from US$ 11 billion in 2004, to around US$ 32 billion in 2013. Products labeled as organic by the USDA must be produced without antibiotics fed or administered to the animal at any point in its life.

Manufacturers in the veterinary antibiotics market are taking efforts to develop antibiotics alternatives such as vaccines. For instance, in 2015, Elanco, announced the research on 25 antibiotics alternatives and in June 2016, the company formed a research alliance with EnBiotix to develop pathogen-fighting bacteriophages.

Browse 23 Market Data Tables and 18 Figures spread through 165 Pages and in-depth TOC on "Veterinary Antibiotics Market, by Product Type (Anti-parasitic, Anti-bacterial, Non-steroidal anti-inflammatory drug, and Others), by End Use (Dairy Farm, Poultry Farm, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"

To know the latest trends and insights related to veterinary antibiotics market, click the link below:

https://www.coherentmarketinsights.com/market-insight/veterinary-antibiotics-market-2324

Key Takeaways of the Veterinary Antibiotics Market:

  • The global veterinary antibiotics market is expected to expand at a CAGR of 3.8% during the forecast period (2018–2026), owing to increasing meat, poultry, and dairy consumption globally. According to the Science Magazine, the average amount of meat consumed per person globally has nearly doubled in the past 50 years, from around 23kg in 1961 to 43kg in 2014
  • 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.

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