The new report by Expert Market Research titled, ‘Global Veterinary Drugs Market Size, Share, Price, Trends, Report and Forecast 2021-2026’, gives an in-depth analysis of the global veterinary drugs market, assessing the market based on its segments like product, animal, route of administration, distribution channel, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2021-2026)
• Historical Market Size (2020): USD 16 Billion
• Forecast CAGR (2021-2026): 6.2%
• Forecast Market Size (2026): USD 23 Billion
The growth of veterinary drug market is primarily driven by the demand from domestic and livestock animals. Additionally, increasing number of pet adoption and rising livestock farms are pushing the growth of the market. The increasing awareness for animal diseases and growing research and development activities in veterinary drug market is expected to aid the growth. However, the lack of veterinary infrastructure in underdeveloped nations may constrain the growth of market in the forecast period.
Industry Definition and Major Segments
Veterinary drugs are used in treatment of animals. They can be administered orally, intravenous, or topically. These drugs are used to increase immunity, fight infection, relieve pain, and remove parasites, among others.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/veterinary-drugs-market
Based on product, the market is divided into:
• Biologics
o Vaccines
o Others
• Pharmaceuticals
o Parasiticides
o Anti-infectives
o Anti-inflammatory
o Analgesics
o Other
• Medicinal Feed Additives
Based on animal, the market is bifurcated into:
• Companion
• Livestock
Based on route of administration, the market is categorised into:
• Oral
• Parental
• Topical
Based on distribution channel, the market is segmented into:
• Veterinary Hospitals and Clinics
• Pharmacies and Drug Stores
• Online
• Others
The regional markets for veterinary drugs include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Regionally, North America is the largest shareholder in the global veterinary drug market. This can be attributed to rising number of pet owners in the region. Moreover, factors such as large disposable income and increasing awareness of animal healthcare are expected to boost growth of the veterinary medicine market in the region. Meanwhile, Asia-Pacific is projected to show fastest growth rate, owing to growing awareness of animal healthcare, easy availability of veterinary medicines, and developing veterinary infrastructure.
Key Market Players
The major players in the market are Bayer AG, Vetoquinol S.A., Boehringer Ingelheim International GmbH, Kindred Biosciences, Inc., Zoetis Inc., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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