The international Veterinary Medicine Market research report provides extensive analysis of the market structure as well as estimates of various market segments and sub-segments. If the reports are accompanied by the right tools and technology, they also help overcome uncertain challenges for businesses. The report is based on market type, organization size, local availability, end-user organization type, and availability in regions such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. A superior Veterinary Medicine Market Report also highlights various product market barriers and drivers both quantitatively and qualitatively so that users get the right information.
To achieve tremendous business growth, Veterinary Medicine Market research reports play a very important role. This worldwide report helps to know how the market will perform in the forecast years by providing information on definition, classification, application, and involvement of the market. Moreover, market share analysis as well as key trends analysis are the major determining factors in this market report. Furthermore, this business report provides a detailed explanation of the market analysis with inputs from industry experts. By truly understanding the client’s requirements completely and following them strictly, the Veterinary Medicine Market research report has been prepared.
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.
Explore Further Details about This Research Veterinary Medicine Market Report https://www.databridgemarketresearch.com/reports/global-veterinary-medicine-market
Veterinary Medicine Market Scope and Segmentation
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REPORT METRIC |
DETAILS |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015 – 2020) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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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) |
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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 |
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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) |
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Market Opportunities |
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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
Key Offerings:
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- Past Market Size and Competitive Landscape (2018 to 2022)
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- Past Pricing and price curve by region (2018 to 2022)
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- Market Size, Share, Size & Forecast by different segment | 2023−2029
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- Veterinary Medicine Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
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- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
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- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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- Competitive landscape – Market Leaders, Market Followers, Regional player
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- Competitive benchmarking of key players by region
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- PESTLE Analysis
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- PORTER’s analysis
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- Value chain and supply chain analysis
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- Legal Aspects of Business by Region
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- Lucrative business opportunities with SWOT analysis
- Recommendations
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