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Europe Veterinary Antibiotics Market Size, Share & Trends Analysis Report By Animal Type, By Drug Class, By Dosage Form And Segment Forecasts, 2022 - 2030

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Europe Veterinary Antibiotics Market Size, Share & Trends Analysis Report By Animal Type (Cattle, Poultry), By Drug Class (Macrolides, Penicillins), By Dosage Form (Oral Solution, Oral Powder), And Segment Forecasts, 2022 - 2030

New York, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Veterinary Antibiotics Market Size, Share & Trends Analysis Report By Animal Type, By Drug Class, By Dosage Form And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06360885/?utm_source=GNW

Europe Veterinary Antibiotics Market Growth & Trends

The Europe veterinary antibiotics market size is expected to reach USD 1.31 billion by 2030, registering a CAGR of 3.59% over the forecast period. The rising focus on animal-only antibiotics and ionophores, the launch of new products, and the increasing use of veterinary antibiotics are some of the major factors augmenting the industry’s growth. In addition, the rising prevalence and incidence of livestock diseases and concerns regarding zoonoses are further propelling the industry’s growth. The COVID-19 pandemic has affected the veterinary antibiotic business operations of key players and resulted in declined financial performance during the initial time.

The effect of the pandemic with various production and supply chain bottlenecks delayed the delivery of necessary raw materials or active ingredients and postponed certain research & development activities.However, with the easing of restrictions, manufacturers were able to supply antibiotics to meet the necessary veterinary requirements.

Few major players have reported significant growth in antibiotic sales despite the pandemic. For instance, Virbac’s bovine antibiotic sales grew from USD 66.98 million in 2020 to USD 79.30 million in 2021. The global concern regarding antibiotic resistance is growing in agriculture and veterinary medicine. Despite the regulatory changes implemented by the European Medicines Agency (EMA) for restriction and ban on routine antibiotic use, the overall sales of veterinary antimicrobial active ingredients have observed significant growth in the past few years.

For instance, according to the EMA, overall veterinary antimicrobial active substance sales grew from 5,282 tonnes in 2019 to 5,562 tonnes in 2020.Furthermore, major players, such as Elanco, have shifted their focus to animal-only antibiotics, as a measure to address antibiotic resistance while also protecting animal health.

Key players are implementing various strategic initiatives, such as mergers, partnerships, acquisitions, collaborations, and new product launches, to maintain their competitive edge.For instance, in December 2021, Virbac, in collaboration with Pharmgate, launched Tulissin, an antibiotic solution for swine and cattle with respiratory pathologies.

These activities are expected to intensify the competition between major antibiotic manufacturers in the coming years.

Europe Veterinary Antibiotics Market Report Highlights
• The cattle animal type segment accounted for the largest revenue share in 2021 owing to the easy availability of cattle antibiotics and increased consumption of beef & dairy products
• By drug class, the penicillin segment held the largest revenue share in 2021. Penicillinis one of the most commonly sold antibiotic drug classes in Europe for veterinary application
• According to the EMA, the overall sales of veterinary penicillin accounted for 31.1% in 2020
• The oral solution segment led the market in 2021 owing to the easy & convenient usage of these dosage forms. These solutions are preferably dispensed in the drinking water
• The U.K. accounted for the largest revenue share in 2021 and Poland is expected to grow at the fastest CAGR from 2022 to 2030
• Key factors contributing to the notable share of the U.K. include the easy availability of veterinary antibiotics and an increase in pet ownership & pet insurance rates
• The industry is fairly competitive owing to the presence of major players. Various strategic initiatives implemented by companies are greatly contributing to the growth of the industry
Read the full report: https://www.reportlinker.com/p06360885/?utm_source=GNW

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