Veterinary Antibiotics Market, by Product Type (Anti-parasitic, Anti-bacterial, Non-steroidal anti-inflammatory drug, and Others), by End-use (Dairy Farm, Poultry Farm, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
An antimicrobial can be described as a natural, semi-synthetic, or synthetic substance that kills or inhibits most microorganisms but causes little or no loss to the host. All antibiotics are antimicrobials; however, not all antimicrobials are antibiotics. Antimicrobial products have remarkable food safety benefits for both animals and humans. Veterinary antibiotics can be used in animals and can contribute to the spread of antibiotic resistance in bacteria that can be transmitted to humans; henceforth, it decreases the effectiveness of antimicrobial drugs used to treat human diseases.
There are studies that have shown that an increase in the rate of disease in animals leads to a higher rate of disease in humans. Therefore, livestock traders rely on animal antibiotics to deliver safe food. Antimicrobial and antibiotic treatments for animals are sold to various end-use segments such as dairy market, animal meat market, pet market, livestock market and animal feed market.
Market Dynamics
Increasing adoption of inorganic strategies by key players in market such as acquisition is expected to drive market growth over the forecast period. For instance, in August 2020, Elanco Animal Health Incorporated, a global leader in animal health announced the acquisition of Bayer Animal Health. The companies had signed a definitive agreement to acquire and transaction was completed after fulfillment of the closing conditions, including the receipt of regulatory approvals. This agreement will help in the expansion of Elanco's portfolio of leading global brands and strengthens its innovation capabilities and R&D pipeline.
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