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The report on global veterinary drugs market provides qualitative and quantitative analysis for the period of 2017 to 2023. According to the report the global veterinary drugs market value is projected to reach USD 26.2 billion by 2023, growing with a CAGR between 5.0 % to 5.5% from 2017 to 2023. The global veterinary drugs market size was totaled 18.07 Billion in 2016.
Figure 1: Global Veterinary Drugs Market by Value 2015 - 2023
Market
Insights
Globally, the veterinary drugs market
has registered progressive growth over the past few years. Owing to numerous disease
conditions growing in the animals, veterinary drugs have gains vital importance
while generating significant demand. Epidemic disorders in animal has created
necessity and surged demand for veterinary drugs in global market. While, veterinary drugs including amino acids and antibiotics are developed in order to fight
against attack of harmful viruses and bacterial parasites in animal. Growth in veterinary drugs market is highly attributed to introduction of advanced cost effective veterinary drugs linked with rising clinical animal researches to treat disease and other
disorder. Whereas, increasing safety and effectiveness of these veterinary drugs have consolidated demand across the globe. Furthermore, rising awareness
towards healthcare and well-being of livestock companion and pets along with
introduction of animal immunization policies by the government organization in
developing nations have upkeep demand for veterinary drugs. On the flip side, various
complications pertaining to animal disease likely to hamper veterinary drugs market up to some extent.
The global veterinary drugs market
will provide various growth opportunities in the years to come on account of
rising research and development investment in order to develop more effective
and safe drugs. In addition, increase in pet ownership, rising meat consumption
worldwide, and rising health expenditure in animal will drive global veterinary drugs market.
Segments
Covered:
The report segments the
global veterinary drugs market by drug type, by animal type, by route of
administration and by region. On the basis of drug type global market has been
segmented into anti-infective, anti-inflammatory and paraciticides. Moreover,
market segmentation on the basis animal type includes companion animal and
livestock animal. Based on route of administration, market segmented into Oral,
Parenteral and topical.
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 Drugs Market by Region 2015 - 2023
With
over 30% of global markets share in 2015, North America emerged as dominant
region in terms of value. The region anticipated to retain its dominance
throughout the forecast period owing to higher prevalence of pet ownership as
compared to other regions. U.S. drives North American veterinary drugs market
majorly due to increasing gross disposable income of population which leads to
higher spending on animal healthcare.
Europe
emerged as second largest market after North America including major markets such
as Germany, UK, Netherland, and France. Growth in this region can be credible
to availability of cost effective and advanced veterinary drugs. On the other
hand, Asia Pacific estimated to fastest growing market over the forecasted
period. This is due to rising initiatives towards animal healthcare and
increasing adoption of medicated feed additives for livestock companion. Also,
increasing incidences of infectious diseases among animal expected to
contribute in great extent in this region.
Companies
Profiled:
The companies covered in the
report include Boehringer
Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva
Santé Animale, Dechra Pharmaceuticals PLC., Merck & Co., Inc., Virbac,
Vetoquinol, and others.
Report
Highlights:
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 drugs 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 drugs.
Moreover, the study highlights current market trends and provides forecast from
2017 to 2023. We also have highlighted future trends in the veterinary drugs 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.
Please Choose One of them.