7 C
New York
Sunday, December 4, 2022
0 0

Veterinary Medicines Market Size and Share Outlook 2021-2026: Industry Growth Analysis, Sales revenue, CAGR Status, Future Demand and Developments

Read Time:4 Minute, 44 Second

The new report by Expert Market Research titled, ‘Global Veterinary Medicines Market Size, Share, Growth, Analysis, Report and Forecast 2021-2026’, gives an in-depth analysis of the global veterinary medicine market, assessing the market based on its segments like major products, routes of administration, animal type, distribution channel, and major regions. 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.

The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): USD 21.7 billion
  • Forecast CAGR (2021-2026): 4.6%
  • Forecast Market Size (2026): USD 28.4 billion

Pet ownership is on the rise which is driving the veterinary medication business. According to the American Pet Products Association, the United States spent USD 103.6 billion on pets in 2020 alone. The need for veterinary pharmaceuticals is increasing as pet parents spend more money to extend the lives of their pets, moving the market forward. The COVID-19 epidemic has fueled the trend of pet ownership even more, as people increasingly rely on companion animals for emotional support during stay-at-home orders and statewide lockdowns. This is likely to increase demand for veterinary medicines, boosting the veterinary medicines industry’s growth in the next years.

The rising prevalence of animal epidemics and outbreaks is driving up demand for animal vaccinations, which is propelling the business forward. Pet parents are increasingly favoring immunizations as advances in vaccine technology lead to the production of more efficient vaccines. Furthermore, the increased desire for alternative medications for animals to reduce antibiotic use is boosting market growth. As a result, in the forecast term, the development of efficient immunotherapy for animals to treat bacteria-related disorders is expected to boost the veterinary pharmaceuticals industry’s growth.

Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/veterinary-medicines-market/requestsample

Industry Definition and Major Segments

The rising prevalence of animal epidemics and outbreaks is driving up demand for animal vaccinations, which is propelling the business forward. Pet parents are increasingly favouring immunizations as advances in vaccine technology led to the production of more efficient vaccines. The increased desire for alternative medications for animals to reduce antibiotic use is boosting market growth. As a result, in the forecast term, the development of efficient immunotherapy for animals to treat bacteria-related disorders is expected to boost the veterinary pharmaceuticals industry’s growth.

By type of animals, the market is bifurcated into:

  • Companion Animals
  • Livestock Animals

The major products of veterinary medicine are:

  • Drugs
    • Anti-infective
    • Anti-inflammatory
    • Parasiticide
  • Vaccines
    • Inactivated vaccines
    • Attenuated vaccines
    • Recombinant vaccines
  • Medicated Feed Additives
    • Amino acids
    • Antibiotics

The market can be broadly categorised based on its routes of administration into:

  • Oral Route
  • Parenteral Route
  • Topical Route

Based on distribution channels, the market is divided into:

  • Veterinary Hospital Pharmacies
  • Retail Veterinary Pharmacies

The market can be broadly divided into regions including:

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East
  • Africa
  • Others

Market Trends

The market for veterinary medications is being fueled by the adoption of the newest technical breakthroughs and innovations. As a result, the cost-effectiveness of animal therapy is increasing, bolstering market growth. The deployment of effective medications for animals is expanding as veterinarians increasingly embrace technology such as Big Data and artificial intelligence (AI) to deliver optimal medicinal therapy to animals. Furthermore, the development of animal wearable devices is increasing the attention on animal health, enhancing the veterinary drugs industry’s growth. In developing countries, the increased availability of effective animal care is driving up demand for veterinary drugs.

The market is predicted to develop due to the start of numerous research initiatives aimed at improving the quality of life of animals. The development of predictive biomarker techniques that can aid in early diagnosis of pathology or disease is expected to boost demand for veterinary pharmaceuticals, boosting market growth. The trend of preventive care is driving up demand for medicines to reduce the risk of disease transmission and infection in animals, which is expected to propel the veterinary pharmaceuticals market forward during the forecast period.

Key Market Players

The major players in the market are Archer-Daniels-Midland Company, Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Evonik Industries AG, Elanco Animal Health Incorporated and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About us

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact

Company Name: Claight Corporation

Contact Person: James Rowan, Business Consultant

Email: [email protected]

Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790

Address: 30 North Gould Street, Sheridan, WY 82801, USA

Website: www.expertmarketresearch.com

Read More Reports:

Core Banking Solutions Market

About Post Author

Mohamed ALi

QB data service is a software development company established in the United States that specialises in offering organisations all over the world with individualised technological solutions. QB data service is a company that specialises in the development of mobile and web-based applications, and it employs over 2,800 skilled software developers. In order to deliver enterprise-grade solutions, the company combines its technological expertise, specific domain experience, and a passion for excellence. Communication Happening in Real Time Our application developers adhere to your time zone so that real-time collaboration and a genuine "branch location" atmosphere may be achieved. This helps to ensure that we are always available during your operating hours. Support and scalability of the system We define strategies and a dedicated team for your software development project based on your objectives, and we work with you to achieve those objectives so that you receive the most value and the quickest return on investment possible. Expertise Pertaining to One's Industry Our software developers are divided into virtual divisions, each of which carries the domain experience and know-how necessary to provide outstanding application development solutions. Who Owns the Source Code and All Other IP After the completion of the project, there will be no need to pay any licencing costs for our totally customisable software solutions. According to the terms of our agreement, you will have full ownership of the source code as well as the intellectual property associated with your proprietary software. QB data service takes great satisfaction in possessing comprehensive industrial and technology experience, which enables the company to design, integrate, and implement genuinely exceptional custom software solutions for its customers. In order to achieve this objective, QB data service has developed a broad ecosystem of connections with the most influential figures in both industry and technology. Our ability to advance our clients' technological goals through the development of bespoke software solutions is entrusted to us by businesses ranging in size from small to mid-sized to those in the Fortune 5000. Hi, I am James Aaron, a professional Data recovery Engineer, working with <a href="https://qbdataservice.com/">Quickbooks Data Services</a> as a consultant from the past five years in the USA. I am a specialized and trained Cloud consultant who helps a small and medium-sized entrepreneur to track & manage their company file and a database online at any time from anywhere. <a href="https://qbdataservice.com/blog/general-questions-linked-to-reset-quickbooks-password/">reset QuickBooks password</a> | <a href="https://qbdataservice.com/blog/quickbooks-2023-error-3371/">QuickBooks Error 3371</a> | <a href="https://qbdataservice.com/blog/quickbooks-error-h202/">QuickBooks Error H202</a> | <a href="https://qbdataservice.com/blog/outlook-is-not-responding-in-quickbooks/">QuickBooks outlook is not responding</a> | <a href="https://qbdataservice.com/blog/quickbooks-2023-unrecoverable-error/">QuickBooks unrecoverable error</a> | <a href="https://qbdataservice.com/blog/quickbooks-tool-hub/">QuickBooks Tool Hub</a> | <a href="https://qbdataservice.com/blog/quickbooks-2023-crashing-how-to-fix-in-different-os/">QuickBooks 2022 keeps crashing</a> | <a href="https://qbdataservice.com/blog/quickbooks-restore-failed/">QuickBooks restore failed</a> | <a href="https://qbdataservice.com/blog/resolve-quickbooks-migration-failed-unexpectedly-like-a-pro/">QuickBooks migration failed unexpectedly</a> | <a href="https://qbdataservice.com/blog/quickbooks-2023-error-1712/">QuickBooks Error 1712</a> | <a href="https://qbdataservice.com/blog/update-quickbooks-2023-company-file/">this company file needs to be updated</a> | <a href="https://qbdataservice.com/blog/quickbooks-error-ps038/">QuickBooks Error PS038</a> | <a href="https://qbdataservice.com/blog/quickbooks-error-ol-222/">QuickBooks Error OL 222</a> | <a href="https://qbdataservice.com/blog/download-quickbooks-print-and-pdf-repair-tool-now/">QuickBooks missing pdf component</a> | <a href="https://qbdataservice.com/blog/quickbooks-desktop-2023-update-error/">QuickBooks update error</a> | <a href="https://qbdataservice.com/blog/quickbooks-2020-discontinued/">QuickBooks 2020 discontinued</a> | <a href="https://qbdataservice.com/blog/quickbooks-transactions-not-updating/">QuickBooks Bank transactions not updating</a> | <a href="https://qbdataservice.com/blog/quickbooks-update-error-1603/">QuickBooks Error 1603</a> | <a href="https://qbdataservice.com/quickbooks-data-migration-services/">QuickBooks Data migration services</a> | <a href="https://qbdataservice.com/quickbooks-data-conversion-services/">QuickBooks Data Conversion services</a> | <a href="https://qbdataservice.com/quickbooks-data-recovery-services/">QuickBooks Data Recovery services</a> | <a href="https://qbdataservice.com/blog/quickbooks-crashes-when-importing-accountants-changes/">QuickBooks crashes when importing accountant's changes</a>
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Mohamed ALi
Mohamed ALihttps://qbdataservice.com/sage-50-cloud-hosting/
QB data service is a software development company established in the United States that specialises in offering organisations all over the world with individualised technological solutions. QB data service is a company that specialises in the development of mobile and web-based applications, and it employs over 2,800 skilled software developers. In order to deliver enterprise-grade solutions, the company combines its technological expertise, specific domain experience, and a passion for excellence. Communication Happening in Real Time Our application developers adhere to your time zone so that real-time collaboration and a genuine "branch location" atmosphere may be achieved. This helps to ensure that we are always available during your operating hours. Support and scalability of the system We define strategies and a dedicated team for your software development project based on your objectives, and we work with you to achieve those objectives so that you receive the most value and the quickest return on investment possible. Expertise Pertaining to One's Industry Our software developers are divided into virtual divisions, each of which carries the domain experience and know-how necessary to provide outstanding application development solutions. Who Owns the Source Code and All Other IP After the completion of the project, there will be no need to pay any licencing costs for our totally customisable software solutions. According to the terms of our agreement, you will have full ownership of the source code as well as the intellectual property associated with your proprietary software. QB data service takes great satisfaction in possessing comprehensive industrial and technology experience, which enables the company to design, integrate, and implement genuinely exceptional custom software solutions for its customers. In order to achieve this objective, QB data service has developed a broad ecosystem of connections with the most influential figures in both industry and technology. Our ability to advance our clients' technological goals through the development of bespoke software solutions is entrusted to us by businesses ranging in size from small to mid-sized to those in the Fortune 5000. Hi, I am James Aaron, a professional Data recovery Engineer, working with Quickbooks Data Services as a consultant from the past five years in the USA. I am a specialized and trained Cloud consultant who helps a small and medium-sized entrepreneur to track & manage their company file and a database online at any time from anywhere. reset QuickBooks password | QuickBooks Error 3371 | QuickBooks Error H202 | QuickBooks outlook is not responding | QuickBooks unrecoverable error | QuickBooks Tool Hub | QuickBooks 2022 keeps crashing | QuickBooks restore failed | QuickBooks migration failed unexpectedly | QuickBooks Error 1712 | this company file needs to be updated | QuickBooks Error PS038 | QuickBooks Error OL 222 | QuickBooks missing pdf component | QuickBooks update error | QuickBooks 2020 discontinued | QuickBooks Bank transactions not updating | QuickBooks Error 1603 | QuickBooks Data migration services | QuickBooks Data Conversion services | QuickBooks Data Recovery services | QuickBooks crashes when importing accountant's changes

Related Articles

Stay Connected

0FansLike
3,592FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles