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.
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
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
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.
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.
2: Global Veterinary Therapeutics
Market by Region 2015 - 2023
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.