The Global Enrofloxacin Market Growth Is Driven By Growing...

The Global Enrofloxacin Market Growth Is Driven By Growing Prevalence Of Bacterial Infections

Posted 2024-02-21 10:14:23

Key Takeaways

Key players operating in the Enrofloxacin market are Sunny Optical Technology Group Co. Ltd., Foxconn Technology Co. Ltd., STMicroelectronics N.V., OmniVision Technologies Inc., Chicony Electronics Co. Ltd., Sharp Corporation, LG Innotek Company Ltd, Partron Co. Ltd., Lite-On Technology Corp., LuxVisions Innovation, and Samsung Electro-Mechanics Co. Ltd. These players are focusing on expanding their production facilities and developing new formulations to cater to the growing demand.

The rising demand for animal-derived food products is contributing to the growth of global livestock industry. This has increased the risk of infectious diseases among livestock, thereby driving the demand for animal antibiotics like enrofloxacin.

Several pharmaceutical companies are also focusing on expanding their presence in emerging markets of Asia Pacific, Latin America, and Middle East & Africa to tap the potential opportunities in these regions. Improving standards of veterinary healthcare and rising awareness about animal welfare are some factors supporting the growth of enrofloxacin market globally.

Market drivers

The Enrofloxacin Market growing prevalence of zoonotic diseases that can transmit from animals to humans is a major factor accelerating the demand for enrofloxacin. Enrofloxacin helps control zoonotic infections at the animal level itself and reduce the risk of transmission. As per the estimates, around 75% of emerging infectious diseases affecting humans have an animal origin. Thus, the increasing risk of pandemics is prompting governments worldwide to strengthen veterinary healthcare systems. This will continue creating high demand for effective antibiotics like enrofloxacin over the coming years.

The current geopolitical situation is impacting the growth of the Enrofloxacin market. The Russia-Ukraine war has disrupted supply chains and made raw materials more expensive. This affects the manufacturing and distribution of Enrofloxacin used in livestock. Restrictions in transportation due to lockdowns during the pandemic also hindered access to markets. Rising energy costs globally have increased operational expenses for Enrofloxacin producers. Currency fluctuations have made international trade volatile as well. To deal with these challenges, companies need to diversify their supplier networks, build strategic inventory, and consider local sourcing and manufacturing where possible. Co-operation between governments can help stabilize markets through coordination on trade policies and pandemic responses.

Get more insights on Enrofloxacin Market