August 10, 2022 09:11 ET | Source: CMI CMI

Seattle, Aug. 10, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global veterinary antibiotics market is estimated to be valued at US$ 1.43 billion in 2022 and is expected to exhibit a CAGR of 3.8% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Veterinary Antibiotics Market:

Major players operating in the market are focusing on adopting growth strategies such as technological advancements and new product approvals, which is expected to drive the market growth over the forecast period. For instance, in August 2018, Bayer launched i-COWNT BRD, a novel online comparison tool designed to help veterinarians make more informed treatment decisions for bovine respiratory disease (BRD). It is based on an independent meta-analysis comparing mixed treatments from BRD treatment studies. I-COWNT BRD simplifies scientific data analysis to enable veterinarians to select the most effective antibiotic for treatment.

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The global veterinary antibiotics market is expected to exhibit a CAGR of 3.8% during the forecast period due to advances in pet medicine and surgery continue, there will be a increasing demand for appropriate antibiotics.

Among product type, anti-bacterial segment is expected to hold a dominant position over the forecast period, owing to benefits such as prevention and treatment of animal diseases, protection of public health, and increase in animal production.

On the basis of end-use, dairy farm segment is expected to hold a dominant position over the forecast period, owing to the use of antibiotics in food-producing animals has resulted in healthier, more productive animals; reduced incidence of disease and reduced morbidity and mortality in humans and animals; and the production of copious amounts of nutritious, high-quality, and inexpensive food for human consumption.

Key players operating in the global veterinary antibiotics market include Bayer AG, Boehringer Ingelheim GmbH, Ceva Sante Animale, Crystal Pharma, Dechra Pharmaceuticals PLC, Huvepharma AD, Eli Lilly Company, Elanco, Merck & Co., Inc., Sanofi S.A., Vetoquinol S.A., Virbac, and Zoetis, Inc.

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