It possesses broad-spectrum antibacterial activity against both Gram-positive and Gram-negative bacteria. Enrofloxacin is commonly administered to animals such as cattle, pig, chickens, and dogs to treat gastrointestinal, respiratory, skin and soft tissue infections. With growing livestock farming practices globally to meet the rising demand for animal products, healthcare and treatment of livestock has also become important. This has propelled the demand for enrofloxacin antibiotics. The global Enrofloxacin Market is estimated to be valued at US$ 500 million in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising awareness regarding animal healthcare and treatment of various bacterial infections among livestock farmers and pet owners has emerged as a key trend propelling the growth of the Global Enrofloxacin Market Size over the forecast period. According to studies, bacterial infections account for over 20% of direct livestock mortality globally each year. Enrofloxacin acts as an effective antibacterial remedy to treat various infections affecting livestock. Its high efficiency and ease of usage through various administration routes have contributed to its increasing uptake among end-users. The growing awareness regarding economic benefits of ensuring good animal health is encouraging farmers and vets to opt for advanced veterinary drugs including enrofloxacin. This will continue to present lucrative opportunities for market players during the forecast period.
Segment Analysis
The global enrofloxacin market is dominated by the livestock segment. Within the livestock segment, the poultry sub-segment accounts for the major market share. Poultry is one of the major applications of enrofloxacin as it is used for controlling bacterial infections among chicken. Its high efficacy and affordability have made it the treatment of choice for bacterial diseases in poultry.
Key Takeaways
The global enrofloxacin market is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: The Asia Pacific region currently dominates the global enrofloxacin market and is expected to remain the highest revenue generating region during the forecast period. This is owing to rising antibiotics consumption for livestock in major markets of China and India. Rapid expansion of broiler and layer farms has augmented the application of enrofloxacin across India and China. Additionally, the regional governments are supporting livestock sector development through incentives and subsidies, which is expected to further drive the demand for enrofloxacin in Asia Pacific.
Key players operating in the enrofloxacin market are Zoetis Inc, Merck Animal Health, Hisoar Pharmaceutical, Purechem, and Lupin Pharmaceuticals.
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