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The Poultry Antibiotic Market is Estimated To Witness High Growth Owing To Increased Animal Disease Prevalence

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Saya Bonde
The Poultry Antibiotic Market is Estimated To Witness High Growth Owing To Increased Animal Disease Prevalence

The poultry antibiotic market is estimated to be valued at US$ 2.0 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The poultry antibiotic market consists of various antibiotic products used for treatment of bacterial diseases in poultry. Antibiotics are considered primary treatment for common poultry diseases and infections to assure animal health and welfare. Key products include penicillin, tetracyclines, aminoglycosides, and sulfonamides among others. Antibiotics help improve animal productivity and growth efficiency.

Market key trends:

The poultry antibiotic market is expected to witness high growth owing to increasing prevalence of bacterial diseases in poultry farms. Factors such as overcrowding, stress, and lack of sanitation often lead to outbreaks of diseases like colibacillosis, salmonellosis, and mycoplasmosis among others. This drives demand for effective treatment and prevention of bacterial infections. Moreover, rising consumption of poultry meat and changing dietary patterns are creating more demand for poultry meat production globally, thereby influencing market growth of antibiotics to maintain animal health and productivity. However, strict regulations on antibiotic usage and increasing preference for organic meat may hamper market growth to some extent.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as the poultry antibiotic market requires high capital investment in R&D and production facilities. Additionally, established players have strong brand recognition and distribution networks.

Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have various product options available from different manufacturers. However, switching costs are low.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials like medicinal plants and chemicals have few substitutes and supply is concentrated among few players globally.

Threat of new substitutes: The threat of new substitutes is low as alternative methods for disease treatment like probiotics and prebiotics are still in development stages and not widely accepted.

Competitive rivalry: Competition in the market is high among major global players.

SWOT Analysis

Strength: The poultry antibiotic market has stable demand due to essential nature of products in poultry farming. Manufacturers have established R&D capabilities and product portfolios.

Weakness: Stringent regulations on antibiotic use and growing consumer preference for antibiotic-free meat pose challenges. High capital requirements and lengthy approval processes increase barriers to entry.

Opportunity: Emerging markets in Asia Pacific and Latin America offer high growth potential due to rising meat consumption. Alternatives like probiotics and vaccines present new areas for product development and market expansion.

Threats: Increased scrutiny over antibiotic resistance and residue levels in meat can potentially lead to product bans. Substitution threat from preventive animal health care tools and precision livestock farming.

Key Takeaways

The global poultry antibiotic market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing meat consumption globally as incomes rise. The market size is projected to reach US$ 3.4 Bn by 2030.

The Asia Pacific region dominates the poultry antibiotic market currently, owing to large poultry meat producers like China and India. The region is estimated to grow at the fastest pace during the forecast period due to rising living standards and Westernization of diets. North America and Europe are also sizable markets, though growth is expected to be moderate due to regulatory curbs on antibiotic usage.

Key players operating in the poultry antibiotic market are Zoetis Inc., Elanco Animal Health, Boehringer Ingelheim Animal Health, Merck & Co. Inc., Bayer AG, Ceva Santé Animale, Virbac, Vetoquinol S.A., Phibro Animal Health Corporation, Huvepharma, Neogen Corporation, Nisseiken Co., Ltd., Venkys India Ltd., Inovio Pharmaceuticals, Inc. Major players are focusing on enhancing their product portfolios and geographic expansion in high growth markets through strategic collaborations 

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