Veterinary Antibiotics Market Growth Analysis With Investment Opportunities For 2024-2033

The Business Research Company’s Veterinary Antibiotics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 17, 2024 /EINPresswire.com/ -- The veterinary antibiotics market has experienced robust growth in recent years, expanding from $2.2 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to 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.

Strong Future Growth Anticipated
The veterinary antibiotics market is projected to continue its strong growth, reaching $3.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to increasing penetration of pet insurance, rise in pet ownership, increase in government initiatives, and growing awareness about animal health.

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Growth Driver Of The Veterinary Antibiotics Market
The rising pet ownership rate is expected to propel the growth of veterinary antibiotics market going forward. Pet ownership is the legally recognized and responsible act of having and caring for domesticated animals as companions, which involves providing for their physical, emotional, and medical needs. As the number of pets increases, there will be a rising the demand for antibiotics to treat and prevent illnesses in pets, as more pets create a larger patient base, necessitating veterinary care, including antibiotics, to maintain their health and well-being.

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Major Players And Market Trends
Key players in the veterinary antibiotics market include Boehringer Ingelheim GmbH, Zoetis, Inc., Merck & Co., Inc., Elanco Animal Health Incorporated, Ceva Santé Animale, 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 Industry Corporation Ltd. (CAHIC), Elanco.

Major companies operating in the veterinary antibiotics market are developing telemedicine platforms for pet healthcare to gain a competitive edge in the market. Telemedicine is a healthcare practice that involves the remote diagnosis, consultation, treatment, and monitoring of patients using telecommunications technology, such as video conferencing, phone calls, or secure messaging platforms.

Segments:
1) By Product: Anti-parasitic, Anti-bacterial, Non-steroidal anti-inflammatory drug, Others
2) By End User: Farm Animals, Companion Animals
3) By Administration: Premixes, Injections, Oral Powders, Oral Solutions, Others

Geographical Insights: North America Leading The Market
North America was the largest region in the veterinary antibiotics market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of veterinary antibiotics.

Veterinary Antibiotics Market Definition
Veterinary antibiotics refer to a class of animal medications that are used to treat infectious diseases in animals by killing microorganisms such as bacteria and parasites by inhibiting the growth of their cell walls to fight infections and diseases in animals caused by bacteria and improve the animals' health conditions.

Veterinary Antibiotics Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Veterinary Antibiotics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on veterinary antibiotics market size, veterinary antibiotics market drivers and trends, veterinary antibiotics market major players, veterinary antibiotics competitors' revenues, veterinary antibiotics market positioning, and veterinary antibiotics market growth across geographies. The veterinary antibiotics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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