Veterinary Medicine Market
The Veterinary Medicine Market accounted for $22,973 million in 2019, and is expected to reach $29,698 million by 2027
PORTLAND, OR, UNITED STATES, June 20, 2023/EINPresswire.com/ — The Veterinary Medicine Market accounted for $22,973 million in 2019, and is expected to reach $29,698 million by 2027, registering a CAGR of 4.6% from 2020 to 2027.
The veterinary medicine market refers to the industry involved in the development, production, and distribution of pharmaceuticals, vaccines, diagnostics, and other healthcare products for animals. It encompasses a wide range of products and services aimed at promoting animal health, preventing and treating diseases, and improving the overall well-being of animals.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/3366
𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬-
Rise in ownership of companion animals, increase in livestock population across the globe, and surge in animal healthcare expenditure boost the growth of the global veterinary medicine market. In addition, surge in prevalence of various medical conditions in animals fuels the market growth. On the other hand, stringent regulatory approvals related to veterinary drugs and vaccines and lack of veterinary infrastructure facilities in underdeveloped nations impede the growth to certain extent. However, surge in awareness related to animal healthcare is expected to create multiple opportunities in the industry.
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐏𝐚𝐧𝐝𝐞𝐦𝐢𝐜 𝐨𝐧 𝐕𝐞𝐭𝐞𝐫𝐢𝐧𝐚𝐫𝐲 𝐌𝐞𝐝𝐢𝐜𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐥𝐨𝐛𝐚𝐥𝐥𝐲?
The production of veterinary medicines has not been impacted during Covid-19 , as most of the regions have included veterinary medicines under essential services.
The Indian dairy industry has promoted the use of “Pashu Ayurveda” or ethno-veterinary medicine, in order to curb animal diseases as well as to control the chances of pathogens jumping from them to humans.
The supply chain disruptions, however, have been a major issue behind shortage of raw materials. Whereas, the government in several regions have eased on certain restrictions, in order to maintain economic benefits.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/ec3c364ed95fb488832ba26afcdb99f8
𝐓𝐡𝐞 𝐝𝐫𝐮𝐠𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐥𝐞𝐚𝐝 𝐭𝐡𝐞 𝐭𝐫𝐚𝐢𝐥 𝐛𝐲 𝟐𝟎𝟐𝟕-
Based on type, the drugs segment contributed to more than half of the global veterinary medicine market revenue in 2019, and is expected to rule the roost by the end of 2027. This is owing to prevalence of parasites in both companion as well as livestock animals. However, the vaccines segment would portray the fastest CAGR of 5.7% during the study period. This is due to surge in prevalence of various infectious diseases among companion animals and livestock animals.
𝐓𝐡𝐞 𝐩𝐚𝐫𝐞𝐧𝐭𝐚𝐥 𝐫𝐨𝐮𝐭𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧’𝐬 𝐬𝐡𝐚𝐫𝐞-
Based on route of administration, the parental route segment accounted for more than half of the global veterinary medicine market share in 2019, and is anticipated to retain its top status till 2027. The same segment is also projected to manifest the fastest CAGR of 5.2% throughout the forecast period. Parenteral route of administration leads to greater drug efficacy associated with use of parenteral route, higher bioavailability, and avoid first pass metabolism, which in turn, drives the segment growth.
𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐚𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/3366
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐫𝐞𝐦𝐚𝐢𝐧 𝐥𝐮𝐜𝐫𝐚𝐭𝐢𝐯𝐞 𝐢𝐧 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐫𝐞𝐯𝐞𝐧𝐮𝐞-
Based on geography, North America held the largest share in 2019, holding more than two-fifths of the global veterinary medicine market. This is due to easy availability of veterinary medicines, surge in pet ownership, and increase in awareness about the importance of immunization in both livestock and companion animals. On the other hand, the Asia-Pacific region would also grow at the fastest CAGR of 6.3% by 2027. Surge in awareness related to use of veterinary medicines to manage medical conditions in animals in this region drive the growth of the market.
𝐕𝐞𝐭𝐞𝐫𝐢𝐧𝐚𝐫𝐲 𝐌𝐞𝐝𝐢𝐜𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬:
Zoetis, Inc.
Merck & Co., Inc. (Intervet International B.V.)
Elanco Animal Health
Dechra Pharmaceuticals PLC
Ceva Santé Animale
Virbac., Vetoquinol S.A.
Boehringer Ingelheim International GmbH.
ADM Animal Nutrition
Evonik Industries AG.
𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
Central Lab Market Size: https://www.alliedmarketresearch.com/central-lab-market-A15406
Gene Synthesis Market Share: https://www.alliedmarketresearch.com/gene-synthesis-market-A39015
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
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