Enrofloxacin is a broad-spectrum fluoroquinolone antimicrobial agent used for the treatment of bacterial infections in various livestock such as cattle, pigs, and poultry. It provides effective treatment for respiratory and enteric infections caused by Gram-positive and Gram-negative bacteria.
The global enrofloxacin market is estimated to be valued at US$ 470.4 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of livestock diseases globally is one of the major factors fueling the growth of the enrofloxacin market. According to the Food and Agriculture Organization (FAO), livestock diseases lead to 20-40% losses in livestock production every year. Furthermore, changing outbreak patterns of diseases and emergence of new pathogens continue to threaten livestock health and productivity. For instance, in 2018, African swine fever caused losses of over $128 million in China's pig industry. Enrofloxacin effectively treats bacterial infections affecting livestock health and productivity. Thus, the increasing disease burden in livestock is driving the demand for enrofloxacin as a therapeutic agent, thereby accelerating the growth of the market.
Segment Analysis
The global enrofloxacin market size is dominated by the veterinary segment. Veterinary medicine is the main application area of enrofloxacin, as it is primarily used for treating respiratory infections in animals. Within the veterinary segment, poultry accounts for the largest share. Poultry farming is one of the major revenue sources for many countries andensuring the health of poultry is a high priority. This makes enrofloxacin highly popular for treating bacterial infections affecting poultry.
Key Takeaways
The global enrofloxacin market is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to garner a revenue of US$ 470.4 Mn in 2023 and grow at a rapid CAGR of 13% during the forecast period.
Regional analysis: The Asia Pacific region dominates the global market and is expected remain the fastest growing regional market during the forecast period as well. The large number of poultry and livestock farms in countries like China and India is the major factor driving demand for enrofloxacin in the region. Countries like China, India, Indonesia, Vietnam are among the world's largest producers and consumers of poultry and livestock, thereby fueling growth of the enrofloxacin market in Asia Pacific.
Key players: Key players operating in the enrofloxacin market are Amazon.com, Inc., MercadoLibre, Inc., eBay, Inc., Wal-Mart Stores, Inc., Snapdeal.com, Alibaba Group Holding Limited, Rakuten, Inc., and Flipkart Internet Private Limited. These players are focusing on geographic expansion and building efficient supply chains to better serve the growing demand for enrofloxacin drugs globally.
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