The premium Veterinary Medicine Market report provides comprehensive insights into each company's profile, product specifications, capacity, production value, and market shares for the forecast period. It identifies and analyzes emerging trends, along with major drivers, inhibitors, challenges, and opportunities in the Veterinary Medicine Market industry. This global business report is crafted through a combination of industry insights, practical solutions, and the latest tools and technology. The Veterinary Medicine Market report forecasts the market size, providing information on key vendor revenues, industry development upstream and downstream, progress in the industry, key companies, and market segment types and applications.
The reliability of the Veterinary Medicine Market report is evident as all data and information regarding the Veterinary Medicine Market industry are collected from genuine sources such as websites, journals, annual reports of companies, and magazines. This global market research report is expected to demonstrate a significant market growth percentage during the forecast period of 2022-2029. Key insights from the report include a complete and distinct analysis of market drivers and restraints, major players involved in this industry, a detailed analysis of market segmentation, and a competitive analysis of the key players. Estimations about the rise or fall of the CAGR value for a specific forecast period, market drivers, market restraints, and competitive strategies are evaluated in the successful Veterinary Medicine Market business report.
Animals like humans are vulnerable to many diseases such as bacteria, parasites, fungi, and viruses. Veterinary medicine aids agricultural animals and pets live longer and healthier lives. Growing the life expectancy of pets needs a better diet and the development of healthcare facilities. The increasing number of pets leads to a rise in chronic diseases.
Data Bridge Market Research analyses a growth rate in the veterinary medicine market in the forecast period 2023-2030. The expected CAGR of veterinary medicine market is tend to be around 6.90% in the mentioned forecast period. The market was valued at USD 24.97 billion in 2022 and would grow to USD 42.59 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Explore Further Details about This Research Veterinary Medicine Market Report https://www.databridgemarketresearch.com/reports/global-veterinary-medicine-market
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Years | 2021 (Customizable to 2015 - 2020) |
| Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
| Segments Covered | Product (Biologics, Pharmaceuticals, Medicated Feed Additives), Animal Type (Production, Companion), Route of Administration (Oral, Parenteral, Others), End-User (Reference Laboratories, Point-of-Care Testing/In-House Testing, Veterinary Hospitals and Clinics, Others) |
| Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
| Market Players Covered | Merck & Co., Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim International GmbH. (Germany), Vetoquinol (France), Zoetis (U.S.), Ceva (France), Cargill, Incorporated (U.S.), Nutreco (Netherlands), Virbac (France), Kindred Biosciences, Inc. (U.S.), NEOGEN Corporation (U.S.), Hester Biosciences Limited. (India), ADM (U.S.), Norbrook (U.K.), Dechra Pharmaceuticals PLC (U.K.), Evonik Industries AG (Germany) |
| Market Opportunities |
|
Market Definition
Veterinary medicine includes drugs such as anti-infectives and parasiticides that are provided to animals orally. Vaccines are also used in veterinary medicine to help immunity in animals against viral diseases such as equine influenza (EIV) and parainfluenza 3-respiratory syncytial virus. Medicated feed additives are mixed with animal feed to produce medicinal benefits in animals. Veterinary medicine is also used in a number of species, which includes companion animals such as dogs and cats along with livestock animals including cattle, pigs, and chickens
Veterinary Medicine Market Dynamics
Drivers
- Rising demand for pet insurance policies
The increasing use of pet health insurance to pay for veterinarian services in several industrialized countries is anticipated to boost the market growth. Canada, the U.K., and Sweden all have a flourishing pet health insurance sector. The wide use of pet health insurance has increased intensely in China. The increasing awareness and wide understanding of pet health and the increasing popularity of pets are two important parts that have aided in the adoption of pet healthcare insurance.
- Rising occurrences of zoonotic diseases among livestock animals
The rise in occurrences of zoonotic diseases among livestock animals will increase the numerous opportunities for the market's growth and influence market dynamics. The increased occurrence and financial burden of zoonotic illnesses among livestock animals boosted the livestock animals sector to occupy more than 63 % of the animal pharmaceuticals market share in the year 2020. Furthermore, bacterial parasites thrive by preying on farm animals, that causes huge sickness and financial hardship.
Opportunities
- Increasing Rate of Pet Owners
A major increase in the number of pet owners is boosting the need for better treatment options for companion animals, resulting in increased health expenditure on pets. As per the American Pet Products Association, the total spending in the U.S. pet industry rise to USD 103.6 billion in 2020 from USD 97.1 billion in 2019, and it is assessed to reach more than USD 109.6 billion in 2022.Furthermore, around 67% of households in the U.S. owned a pet, that is equal to approximately 84.9 million homes in 2020.
Answers That the Veterinary Medicine Market Acknowledges:
- Veterinary Medicine Market size and growth rate during forecast period
- Key factors driving the Veterinary Medicine Market
- Key market trends cracking up the growth of the Veterinary Medicine Market.
- Challenges to Veterinary Medicine Market growth
- Key vendors of Veterinary Medicine Market
- Opportunities and threats faces by the existing vendors in Global Veterinary Medicine Market
- Trending factors influencing the market in the geographical regions
- Strategic initiatives focusing the leading vendors
- PEST analysis of the Veterinary Medicine Market in the five major regions
Browse Related Reports:
Tropical Disease Testing Products Market to Notice Prominent CAGR Growth by Size, Share, Trends, Demand, Growth and Competitive Outlook
https://www.databridgemarketresearch.com/reports/global-tropical-disease-testing-products-market
Activated Clotting Time Testing Market to Observe Utmost Growth of Billion by Size, Share, Trends, Demand, Key Players and Growth Factors
https://www.databridgemarketresearch.com/reports/global-activated-clotting-time-testing-market
Flu Vaccines Market is Probable to Influence the Value of Billion by Size, Share, Trends, Growth and Competitive Outlook
https://www.databridgemarketresearch.com/reports/global-flu-vaccines-market
Platelet-Rich Plasma Therapy Market is Likely to Upsurge at Billion Globally by Size, Share, Trends, Demand, Growth and Opportunity Analysis
https://www.databridgemarketresearch.com/reports/global-platelet-rich-plasma-therapy-market
Medical Waste Disposal Services Market To Perceive Highest Growth of Billion by Size, Share, Trends, Key Growth Drivers and Opportunity Analysis
https://www.databridgemarketresearch.com/reports/global-medical-waste-disposal-services-market
Prenatal Genetic Counselling Market to Receive Billion by Size, Shares, Trends, Demand, Growth Opportunities and Revenue Analysis
https://www.databridgemarketresearch.com/reports/global-prenatal-genetic-counselling-market
Genetic Material Market to Experience Substantial Growth of Billion by Size, Share, Demand, Opportunities, Growth Rate and Key Players Analysis
https://www.databridgemarketresearch.com/reports/global-genetic-material-market
Bariatric Patient Care Handling Equipment Market is expected to Reach the Valuation Billion by Size, Share, Growth, Trends, Demand and Opportunity Analysis
Competent Cells Market to Grasp Outstanding Growth of Million by, Size, Share, Trends, Opportunities, Key Drivers and Revenue Forecast
https://www.databridgemarketresearch.com/reports/global-competent-cells-market
Photoacoustic Tomography Market to Exhibit an Incredible Growth of Billion by Size, Share, Trends, Key Drivers, Demand and Opportunity Analysis
https://www.databridgemarketresearch.com/reports/global-photoacoustic-tomography-market
About Data Bridge Market Research:
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
Email – corporatesales@databridgemarketresearch.com
French (Français)
Spanish (Español)
Arabic
Portuguese (Português)
Deutsch
Turkish (Türk)
Dutch (Nederlands)
Italiano
Romaian (Română)
Português (Brasil)
Greek (Ελληνικά)
Russian (русский)