The Enrofloxacin Market is estimated to be valued at US$ 470.4 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Enrofloxacin is an antimicrobial fluoroquinolone agent that is used to treat infections in animals such as cattle, chickens, and pigs. It helps combat bacterial infections in the respiratory, alimentary, genital, and urinary tracts of animals. Enrofloxacin is administered orally or parenterally and is available in the form of tablets, capsules, solutions, and powders. Its broad spectrum of activity makes it effective against both gram-positive and gram-negative bacteria. It is commonly used to treat respiratory diseases like pneumonia in animals.
Market Dynamics:
The growing demand for meat and poultry is fueling the livestock industry. Antimicrobial drugs play a crucial role in disease prevention and treatment in livestock animals to ensure optimum health and productivity. Enrofloxacin is often the first line of treatment for respiratory infections in cattle and pigs. Moreover, increasing instances of diseases like foot and mouth disease among livestock are further propelling the demand for veterinary therapeutics like enrofloxacin. However, overuse and misuse of antimicrobial drugs is leading to antimicrobial resistance, which has emerged as a major concern. Stringent regulations have been implemented on the use of antimicrobials in food animals. Manufacturers are investing in research to develop advanced formulations and combinations with reduced exposure time to minimize resistance development.
Segment Analysis
The global enrofloxacin market is segmented based on form, dosage form, application, and end-user. The injectable segment currently dominates the market due to the easy availability and administration of enrofloxacin in the injectable form for livestock. The injectable form ensures accurate dosing and higher bioavailability of the drug in animals.
PEST Analysis
Political: The regulation of veterinary drugs is governed by regulatory bodies in various countries and regions to ensure animal welfare and safety of meat and dairy products for human consumption. Strict norms regarding the use of antibiotics in livestock are positively impacting the demand for effective alternatives like enrofloxacin.
Economic: Rising meat consumption globally owing to population and income growth is driving the commercial livestock farming industry. This has increased the demand for veterinary drugs like enrofloxacin for disease prevention and treatment in farm animals.
Social: Growing awareness about zoonotic diseases and their impact on public health has increased focus on livestock health management. This drives the use of antibiotics and therapeutic drugs like enrofloxacin in a responsible manner.
Technological: Advancements in drug delivery systems are helping increase the efficacy and bioavailability of antibiotics. Some players are focusing on developing longer-acting injectable formulations and oral suspensions of enrofloxacin with improved stability and tolerability in animals.
Key Takeaways
The Global Enrofloxacin Market Size was valued at US$ 470.4 million in 2023 and is expected to reach over US$ 670 million by 2030, expanding at a CAGR of 4.1% during the forecast period.
The market is witnessing high growth in the Asia Pacific region, which currently accounts for around 35-40% of global demand for enrofloxacin. Rapid expansion of the poultry and aquaculture industries mainly in China, India, and Southeast Asian countries is driving the demand.
Key players operating in the enrofloxacin market are Bayer AG, Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co., Inc., Virbac S.A., Ceva Santé Animale, Elanco Animal Health, Bimeda, Aurobindo Pharma Limited, and Teva Pharmaceutical Industries Ltd. Merck & Co., Bayer, and Zoetis collectively account for over 50% market share due to their strong product portfolio and global distribution networks.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
