by The global 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 a fluoroquinolone antibiotic used to treat certain bacterial infections in humans and animals. It is active against both Gram-positive and Gram-negative bacteria. It inhibits bacterial DNA replication and transcription, which makes it an effective broad-spectrum antibiotic. Enrofloxacin is commonly used to treat respiratory infections, skin infections, and urinary tract infections in pets and food-producing animals.
Market key trends:
One of the key trends in the enrofloxacin market is the rising regulations regarding the use of antibiotic drugs in food-producing animals. Several regulatory bodies and organizations are imposing restrictions on the non-therapeutic use of antibiotics in food animals due to growing concerns of antimicrobial resistance. For instance, in December 2015, the FDA banned the use of antibiotics for growth promotion and feed efficiency in livestock. This has significantly impacted the sales of antibiotic products such as enrofloxacin meant for veterinary therapeutic use. At the same time, the demand for effective alternative treatment options for animal infections is also increasing, which is fueling research & development activities in this market.
SWOT Analysis
Strength: Enrofloxacin has a broad antimicrobial spectrum against both Gram-positive and Gram-negative bacteria. It is effective against a wide range of respiratory, gastro-intestinal, and dermal/soft tissue infections in animals.
Weakness: Enrofloxacin is banned for use in poultry in the European Union due to concerns regarding antimicrobial resistance. Strict regulations on the use of antibiotics in livestock may hamper the market growth.
Opportunity: Rising demand for animal-derived food products and increasing expenditure on animal health and welfare open potential growth opportunities. The outbreak of infectious diseases in animals also drives the need for effective antimicrobial drugs.
Threats: Growing preference for alternative treatment options and herbal medicines poses threats. Stringent regulations on the approved dosage may also restrict the market scope.
Key Takeaways
The Global Enrofloxacin Market Growth is expected to witness high, exhibiting CAGR of 4.1% over the forecast period, due to increasing prevalence of bacterial infections in food-producing animals.
Regional analysis
North America dominated the global market in 2022 and is expected to maintain its leading position throughout the forecast period. This can be attributed to expansion of livestock farming and rising veterinary healthcare spending in the region. Asia Pacific is projected to be the fastest-growing regional market due to growing meat consumption and increasing awareness about animal health.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
