Veterinary Antibiotics Market Size, Share & Trends Analysis Report By Animal Type (Pigs, Cattle), By Dosage Form (Oral Powders, Injections), By Drug Class, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Antibiotics Market Size, Share & Trends Analysis Report By Animal Type (Pigs, Cattle), By Dosage Form (Oral Powders, Injections), By Drug Class, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Antibiotics Market Growth & Trends

The global veterinary antibiotics market size is expected to reach USD 6.29 billion by 2030, registering a CAGR of 3.10% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary drivers of market growth include a rising focus on animal-only antibiotics and ionophores, growing initiatives by key companies and the launch of new products, and the increasing incidence of livestock diseases. Key players are significantly launching new antibiotics to meet the demand, as some of the older antibiotics have been associated with resistance. For instance, in January 2023, Norbrook launched Tulieve, a generic tulathromycin injection for treating bacterial infections in beef cattle, nonlactating dairy cattle, and swine.

Similarly, in December 2021, Virbac launched Tulissin, an antibiotic solution for swine and cattle with respiratory pathologies. These products were made available for European veterinarians. Therefore, R&D and manufacturing for antibiotic development are ongoing, which is anticipated to continue without a complete halt anytime soon. This factor is contributing to the market growth.

One of the opportunities to further accelerate market growth in the future is the discovery of novel antibiotics. There is a continuous need for new antibiotics to combat emerging resistant strains in veterinary medicine. Research and development in this area could lead to breakthrough drugs that address unmet needs in treating animal infections. According to the U.S. Department of Agriculture, the development of innovative drugs could reduce resistance and the need for existing antibiotics in the production of food animals. Moreover, the need for medications intended for companion animals may promote the development of novel products for that market rather than for use in food animals. On the other hand, increasing export demand for U.S. meat is intensifying animal illness challenges caused by globalization, and the development of antibiotic resistance in animals could boost the demand for antibiotics and the development of new antibiotics.

Moreover, major veterinary antibiotic manufacturers are facing severe competition from generic drug developers globally. These generic products also create pricing pressure on manufacturers owing to their cost-effectiveness. As the patent for antibiotic products expires, generic drug developers introduce alternative forms of products into the market. For instance, Elanco’s Maxiban (an ionophore/animal-only antibiotic) has no patent protection as of 2021, thus, competitors might begin to develop generic & lower-priced alternatives. Similarly, Zoetis reported in 2021 that the company faces competition from generic product developers once a product’s patent expires. As a result, the company has been compelled to reduce its prices and provide discounts for major products to compete with the lower-priced alternative generic products available in the market. Therefore, increasing generic competition is expected to create challenges in the market in the long run.

In addition, the rising awareness of livestock diseases is predicted to create a demand for veterinary treatment in hospitals & clinics, creating a requirement for veterinary antibiotics. For instance, Ontario has approximately 5,247 veterinarians, followed by 1,650 in British Columbia. Furthermore, antibiotics used for livestock treatment must meet Health Canada’s human & animal safety standards. Veterinarians can choose from various antibiotics designed to help prevent or lower the severity of diseases that threaten animals. Every antibiotic marketed in the country must be licensed by the Canadian Food Inspection Agency. Such factors are likely to propel market growth.

Veterinary Antibiotics Market Report Highlights

• Based on animal type, the cattle segment held the largest share of 39.63% in 2023. Increased consumption of beef and dairy products is a major factor expected to drive the segment.
• Based on drug class, the tetracyclines segment dominated the market with a share of 28.93% in 2023. Tetracyclines are a class of commonly used veterinary antibiotics.
• The oral solutions segment dominated the market with a share of 50.20% in 2023. Oral liquids or solutions are among the easiest dosage forms of veterinary antibiotics to develop and use.
• North America dominated the global market with a share of 32.49% in 2023. This regional market is likely to be driven by the presence of established players and increasing demand for treatment among veterinary practices.
• Asia Pacific is anticipated to grow at the fastest CAGR of 4.10% over the forecast period.

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