The report on global veterinary therapeutics market provides qualitative and quantitative analysis for the period of 2017 to 2023. According to the report the global veterinary therapeutics market value is projected to reach USD 45.02 billion by 2023, growing with a CAGR between 6.0 % to 6.5% from 2017 to 2023. The global veterinary therapeutics market size was totaled 27.02 billion in 2015.
Figure 1: Global Veterinary Therapeutics Market by Value 2015 - 2023
The global veterinary therapeutics market has witnessed significant growth, especially in developed economies over the past few years. Veterinary drugs have established importance in the treatment of numerous diseases growing in animals, and hence veterinary drugs are developed in order to minimize attack of harmful virus in animals. Factors including increase in ownership of companion animal and introduction and development of new drugs considered as major market drivers for veterinary therapeutics market globally. Moreover, rising clinical animal researches in order to treat disease and related disorder as well as increased safety and effectiveness of veterinary drugs have equally contributed in the overall market growth. Whereas, increased affordability of treatments and rising expenditure on animal health expected driving global market during forecast period.
On account of increased research and development investment in order to develop more cost-effective and safe veterinary drugs, this market will have enhanced gains throughout the forecast period. In addition, favourable government policies in developed economies anticipated to provide healthy growth opportunities in the years to come.
The report segments the global veterinary therapeutics market by product type, by route of administration, by animal type, end-user and by region. Market segmentation based on product type is further sub segmented as drugs type, vaccines type and medicated feed additives. The drug type segment includes anti-invectives, anti-inflammatory, and parasiticides. Based on vaccines market has been segmented into inactivated vaccines, attenuated vaccines, and recombinant vaccines. Moreover, On the basis of medicated feed additives market has been divided into amino acids and antibiotics. Based on route of administration segment global market is divided into oral, parenteral, and topical. Furthermore, based on type of animal market is divided into companion animal and livestock animals. whereas end-user segment comprises veterinary hospitals, veterinary clinics, and pharmacies and drug stores.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure 2: Global Veterinary Therapeutics Market by Region 2015 - 2023
North America is the largest market for veterinary therapeutics globally. North America projected to continue its dominance owing to US and Canada’s contribution in the regional growth. Growth in North America region is driven by presence of superior animal health care base, strong economic base along with increasing gross disposable income. On the other hand, Europe is the second largest market in terms of revenue. UK and Germany significantly contributed in the regional growth due to availability of cost-effective and advance veterinary drug. Asia Pacific anticipated emerging as fastest growing market over the forecast period. Rising initiatives towards animal healthcare and increasing adoption of medicated feed additives for livestock companions have made Asia Pacific growth attractive market.
The companies covered in the report include Boehringer Ingelheim Vetmedica, Bayer Animal Health, Inc., Dechra Animal Health, Ceva Sante Animale, Elanco Animal Health, Merck Animal Health, Virbac S.A., Merial Animal Health, Zoetis, Inc., and Vetoquinol S.A.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of veterinary therapeutics globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on 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 veterinary therapeutics. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the veterinary therapeutics Market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the veterinary therapeutics market to understand the present and future trends in this market and formulate their strategies accordingly.
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