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A recent report published by Infinium Global Research on veterinary therapeutics market provides in-depth analysis of segments and sub-segments in the global as well as regional veterinary therapeutics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional veterinary therapeutics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global veterinary therapeutics market.
Veterinary therapeutics are used to diagnose different disease conditions in animals. Along with this veterinary therapeutics are also used to prevent, and cure a disease or infection caused by a pest, or injury suffered by animals. It is a branch of animal healthcare that deals with drugs for the treatment of animal diseases, vaccines for the prevention of various pathological conditions, and maintaining the overall health of animals. A variety of vaccines such as inactivated vaccines live attenuated vaccines, recombinant vaccines, and others play crucial roles in the treatment of veterinary disorders. This therapeutics plays an important role in providing all the necessary nutrients which are required to lead a healthy life for the animals.
The veterinary therapeutics market is witnessing growth owing to the rising numerous diseases among animals. Veterinary drugs play an important role in the treatment of several types of diseases in animals. Veterinary drugs are developed for lowering and controlling the attack of harmful viruses in animals. Additionally, an increase in ownership of animals due to many reasons such as small family structures increased need for companionship, and many people living alone at their working place or city, which is directly boosting the growth of the veterinary therapeutics market. In addition, the introduction and development of a new drug are also considered major driving factors for the veterinary therapeutics market globally. However, less awareness among people regarding animal health is hampering the growth of the market. Although, increasing research and development activities in the field of veterinary therapeutics for effective drug development is providing a lucrative opportunity for the growth of the market.
The veterinary therapeutics market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to hold a maximum share of the veterinary therapeutics market. The growth of the market in the region is driven by the high presence of an advanced, well-equipped animal health care base. Most of the population in the region is highly educated and well aware of the importance of animal health. The region is economically advanced and a strong economic base along with increasing gross disposable income is providing high growth opportunities to the market. Additionally, Europe is the second largest market in terms of revenue generation for veterinary therapeutics owing to the presence of countries like the UK and Germany which are significantly contributing to the regional growth of the market. The availability of cost-effective drugs and the adoption of advanced veterinary drugs are propelling the growth of the market in the region.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 42128.39 Million |
| Market Size by 2030 | USD 72379.12 Million |
| Growth Rate from 2023 to 2030 | CAGR of 7.20% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Product Type, By Animal Type, and By Route of Administration |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global veterinary therapeutics market covers segments such as product type, animal type, and route of administration. On the basis of product type, the sub-markets include drugs, vaccines, and medicated feed additives. On the basis of animal type, the sub-markets include companion animal, and livestock animal. On the basis of route of administration, the sub-markets include oral, parenteral, and topical.
The report provides profiles of the companies in the market such as Boehringer Ingelheim, Bayer AG, Dechra Pharmaceuticals, Ceva Santé Animale, Elanco, Merck Animal Health, Virbac, Merial (acquired by Boehringer Ingelheim), Zoetis Services LLC, and Vetoquinol.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the veterinary therapeutics market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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