Market Size Analysis:
According to a report by Altus Market Research titled, “Veterinary Antibiotics Global Market 2022 Opportunities And Strategies To 2030: COVID-19 Growth And Change Including: By Product: (Anti-parasitic; Anti-bacterial; Others); By End User: (Livestock; Companion Animals); By Administration”, the global veterinary antibiotics market reached a value of nearly $14,688.6 million in 2020, having increased at a compound annual growth rate (CAGR) of 7.5% since 2015. The market is expected to grow at a CAGR of 15.6% from 2020 to reach $30,295.9 million in 2025. The global veterinary antibiotics market is expected to reach $59,560.3 million in 2030, at a CAGR of 14.5%.
Market Growth Drivers:
Growth in the historic period resulted from increased pet spending and shortages of generic medicines. Factors that negatively affected growth in the historic period were shortages of veterinarians, lack of awareness, inappropriate use of medicines, and stringent regulations. Going forward, increasing penetration of pet insurance, rise in pet ownership, increase in government initiatives, and growing awareness about animal health will drive the growth of the market. Factors that could hinder the growth of the veterinary antibiotics market in the future include growth in the organic market, awareness of neurological side effects of some drugs in companion animals, rising threat of antibiotic resistance, consolidation of customers and distributors, reductions in free trade, increasing influx of counterfeit drugs, and COVID-19 pandemic impact.
Market Growth by Key Players:
The global veterinary antibiotics market is fairly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 26.24% of the total market in 2020. Major players in the market include Boehringer Ingelheim GmbH, Zoetis Inc., Merck & Co., Inc., Elanco Animal Health Incorporated, and Ceva Santé Animale.
Request Research Sample with Latest Industry Insights (242+ Pages Report): https://altusmarketresearch.com/reports/sample/43183
Market Growth by Segments:
The veterinary antibiotics market is segmented by product into anti-parasitics, anti-bacterials, and others. The anti-parasitics market was the largest segment of the veterinary antibiotics market segmented by product, accounting for 62.0% of the total in 2020 and is expected to be the fastest growing segment going forward, at a CAGR of 16.1% during 2020-2025.
Market Growth by End Users:
The veterinary antibiotics market is also segmented by end user into livestock and companion animals. The livestock market was the largest segment of the veterinary antibiotics market segmented by end user, accounting for 52.3% of the total in 2020. Companion animal is expected to be the fastest growing segment going forward, at a CAGR of 19.0% during 2020-2025.
The veterinary antibiotics market is also segmented by route of administration into oral and others. The oral market was the largest segment of the veterinary antibiotics market segmented by route of administration, accounting for 51.1% of the total in 2020 and is expected to be the fastest growing segment going forward, at a CAGR of 15.8% during 2020-2025.
Market Growth by Region:
North America was the largest region in the global veterinary antibiotics market, accounting for 45.8% of the total in 2020. It was followed by Asia Pacific, Western Europe, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the veterinary antibiotics market will be Africa, Eastern Europe where growth will be at CAGRs of 22.98% and 20.59% respectively. These will be followed by South America, Asia Pacific where the markets are expected to grow at CAGRs of 20.58% and 20.09% respectively, during 2020-2025.
Future Investment Opportunities:
The top opportunities in the veterinary antibiotics market segmented by product will arise in the anti-parasitics segment, which will gain $10,091.7 million of global annual sales by 2025. The top opportunities in the veterinary antibiotics market segmented by end user will arise in the companion animal segment, which will gain $9,690.9 million of global annual sales by 2025. The top opportunities in the veterinary antibiotics market segmented by route of administration will arise in the oral, which will gain $8,103.2 million of global annual sales by 2025. The veterinary antibiotics market size will gain the most in the USA at $4,967.7 million.
Market: Trend-based Strategies
Market-trend-based strategies for the veterinary antibiotics market include strategic collaborations and partnerships, development of new chewable medicines, combination parasiticides, new improved treatments for arthritis and production of generic drugs for animal care. Player-adopted strategies in the veterinary antibiotics market include innovative new therapies to improve the health of animals, advancing the health and well-being of animals, expanding the product portfolio and business operations and developing new therapeutics through collaborations.
Growth Strategies by Altus Market Research for Companies in the Market:
To take advantage of the opportunities, Altus Market Research recommends the veterinary antibiotics companies to focus on production of generic drugs, produce easy to consume antibiotics, produce combination parasiticides antibiotics, scale up through collaborations, expansion into developing countries, offer skimming pricing, offer competitive pricing, initiate animal health awareness campaigns, use direct-to-consumer (DTC) advertising, focus on pet owners and focus on the agriculture industry.
Competitive Landscape –
Major Players covered in the report include, Virbac Group, Vetoquinol S.A., Phibro Animal Health Corporation, Kyoritsu Seiyaku Corporation, Dechra Pharmaceuticals PLC, Merck/MSD Animal Health, Bayer Animal Health China, China Animal Healthcare Ltd., China Animal Husbandry Group, China Animal Husbandry Industry Corporation Ltd. (CAHIC), Elanco, Guangdong Wens Dahuanong Biotechnology Co. Ltd., IDEXX Laboratories, Merial Pulike Biological Engineering, Ceva Santé Animale, Boehringer Ingelheim, Nimrod Veterinary Products Ltd., Bimeda, VIRBAC SA, Vetoquinol SA, Orion Animal Health, Laboratorios Calier, SA, Dechra Pharmaceuticals, Petmedix, Eco Animal Health, Teknofarma, Farmavet, Candioli Pharma, Suanfarma, Marino Ibericamed, MPA veterinary, Lamons Laboratories SA, SUPER’S DIANA, Swetrade Pharmaceuticals AB, Animalcare, VIC Animal Health, AVZ animal health, Provet Group, VitOMEK LCC, Micro-plus, Biowet, Bioveta, Brovapharma, Evrovet, Ukrvetprompostach, VELELEK d.o.o, Veterinarski Zavod Subotica, VetPlanet, Delos Medica, Vetro Solutions, Belfarmacom, Zoetis, IDT Biologika, Merck Animal Health, Boehringer Ingelheim Animal Health USA Inc., Ceva Animal Health Inc., UCBVET, Syntec, Sauvet, Vetanco, Chemo Argentina, Brouwer, Agrovet Market Animal Health, Lemavet, Boehringer Ingelheim MENA, Saudi Pharmaceutical Industries (SPI), DBK Pharma S.A.E., MSD Animal Health South Africa, Elanco Animal Health, Zoetis, Ceva Animal Health (Pty) Ltd, Virbac RSA
