Major players in the veterinary antibiotics market are Bayer AG, Boehringer Ingelheim GmbH, Ceva Sante Animale, Eli Lilly Company and Elanco. The global veterinary antibiotics market is expected to grow from $1.
New York, May 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Antibiotics Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067879/?utm_source=GNW
12 billion in 2020 to $1.22 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.53 billion in 2025 at a CAGR of 5.8%.
The veterinary antibiotics market consists of sales of veterinary antibiotics and related services.Veterinary antibiotics are used to fight against infections and diseases in animals caused due to bacteria.
The veterinary antibiotics industry includes companies involved in the production of antibiotics used for therapeutic and prophylaxis treatment of animals.
Increasing collaboration between companies is an emerging trend in the veterinary antibiotics market.Collaboration offer companies to combine technologies and a wide range, more diversified portfolio of products to work with, and it also improves the quality of the antibiotics and the speed at which they are producing.
Therefore, companies in the veterinary antibiotics market are focusing on collaborations. For example, in April 2019, Bayer AG entered into a strategic collaboration with Adiva GmbH to develop therapeutic antibodies for veterinary medicine.
The rising threat of antibiotic resistance is a major restraint for the veterinary antibiotics market.Antibiotic resistance in animals is the ability of a microbe to withstand the impact of an antibiotic that once could successfully treat the infection from the same type of microbe.
This can be a result of using antibiotics more than the prescribed limit. In this regard, the European Union (EU) has approved various restrictions on veterinary antibiotics including a ban on antibiotics for animals and prohibiting the usage of antimicrobials in food, which is restricting the growth of the veterinary antibiotics market.
The veterinary antibiotics prescription drugs market is regulated by Section 503(f) of the Food, Drug, and Cosmetic Act of FDA.According to this law, the veterinary antibiotics drug labels are mandated to include a caution statement which states that these drugs can only be used with the permission of a licensed veterinarian.
The sale and use of antibiotics prescription drugs without a prescription are usually reported to the FDA and strict action is taken based on it. Hence, regulations such as these would regulate veterinary antibiotics manufacturers and sellers.
An increase in the number of zoonotic diseases is driving the veterinary antibiotics market.Zoonotic diseases are infectious diseases caused by microscopic organisms, infections, and parasites that spread between animals and humans.
Two of the most common zoonotic pathogens salmonella and campylobacter are present in the intestines of these animals.Zoonotic diseases are also a potential threat to humans as they get transferred through the food chain.
A study conducted by the FoodNet (Centers for Disease Control and Prevention, USA) found that 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths are caused due to zoonotic diseases.In addition, the highest incidences per 100,000 population in the USA are caused due to infectious diseases such as campylobacter, salmonella, and shigella.
Therefore, there is a need to diagnose these diseases in animals at an early stage, which is a major driver of the veterinary antibiotics market.
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