The enrofloxacin market has been witnessing high demand due to the increasing prevalence of zoonotic and foodborne diseases among livestock. Enrofloxacin acts as a broad-spectrum fluoroquinolone antibiotic effective against both gram-positive and gram-negative bacteria. It is commonly used for the treatment of respiratory infections in animals.
The global enrofloxacin market size 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 growing demand for veterinary antibiotics is one of the major factors driving the growth of the enrofloxacin market. According to the Food and Agriculture Organization (FAO), around 50% of antibiotics produced globally are used for disease prevention and growth promotion in livestock. Enrofloxacin is widely used in food-producing animals such as cattle, pigs, and poultry. It aids in preventing and treating respiratory, gastrointestinal, skin, soft tissue, and urinary tract infections in livestock. Moreover, the increasing demand for animal-derived food products is also contributing to the rising consumption of veterinary drugs such as enrofloxacin. As per the FAO, the demand for meat is projected to increase by over 70% by 2050 with Asia and Africa, together, accounting for over 65% of the global increase.
SWOT Analysis
Strength: Enrofloxacin has broad-spectrum activity against both Gram-positive and Gram-negative pathogens which makes it an effective antibiotic for treatment of various bacterial infections in animals. It has good oral bioavailability which allows for convenient oral administration.
Weakness: Enrofloxacin is a fluoroquinolone antibiotic which carries risk of adverse effects with extended or improper usage such as tendon damage. Development of antibiotic resistance among bacterial pathogens is a concern with any antibiotic.
Opportunity: Growing livestock industry globally is driving the demand for veterinary antibiotics including enrofloxacin for treatment and prevention of bacterial diseases in food producing animals. Emerging markets offer significant growth potential.
Threats: Stringent regulations around the usage of antibiotics in food animals can restrict the market growth. Alternative treatment options and natural feed additives also pose a competitive threat.
Key Takeaways
The global enrofloxacin market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is anticipated to reach US$ 470.4 Mn by 2030, expanding at a CAGR of around 13%.
Regional analysis:
Asia Pacific region dominates the global market currently and is expected to maintain its leading position over the forecast period. Countries like China, India and Brazil are among the fastest growing markets owing to rising meat consumption and developing livestock industry.
Key players:
Key players operating in the enrofloxacin market are Amazon.com, Inc., MercadoLibre, Inc., eBay, Inc., Otto Group, Wal-Mart Stores, Inc., Snapdeal.com, Alibaba Group Holding Limited, Tesco PLC, Alibaba Group Holding Limited, Tesco PLC, Rakuten, Inc., and Flipkart Internet Private Limited. Major players are focusing on expanding their geographical presence and introduction of new enrofloxacin formulations for various animal species.
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