Press Release

Veterinary Drugs Market Stand Out as the Biggest Contributor to Global Growth and Will Hit 5.6% CAGR By 2026

Veterinary Drugs Market 2019 Global Industry Share, Size, Top Leading Players, Emerging Trends, Region by Forecast to 2025

The rising demand for advanced drugs is likely to create lucrative growth opportunities for the Global Market, finds Fortune Business Insights in their new study. The study is titled “Veterinary Drugs Market Analysis, Insights, and Forecasts, 2018 – 2025.” According to the study, the Global Veterinary Drugs Market will reach a valuation of US$ 27,570 Mn by 2025 from US$ 17,870.6 Mn in 2017, and exhibit a promising CAGR of 5.6% over the aforementioned forecast period.

The parasiticides segment accounted for the highest share in 2017 with market revenue of 32.2% and is likely to dominate the market in terms of product segmentation. This is because prevention of animals from insects and parasites is extremely important, in order to avoid its devastating impact on the animals and further on humans consuming products derived from such animals such as milk, eggs, and meat.

Segmentation:

By Animal

  • Companion
  • Livestock

By Product

  • Anti-infectives
  • Anti-inflammatory
  • Parasiticides

Distribution Channel

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies & Drug Stores

By Route of Administration

  • Oral
  • Parenteral
  • Topical

Get PDF Brochure of this [email protected] https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/veterinary-drugs-market-100171

Some of the Main Key Players Covered in the Report: 

  • Zoetis
  • Intervet Inc.
  • Boehringer Ingelheim
  • Ceva
  • Elanco
  • Vetoquinol S.A.
  • Bayer AG
  • Other players

Rise in Intake of Meat Consumption to Propel Market

The rise in the prevalence of infectious diseases among animals is driving the demand for veterinary drugs. Increasing poultry farming will bode well for the veterinary drugs market as well. Besides this, the market is likely to witness an increasing demand from pet farm owners. Introduction of cost-effective and advanced drugs will also help the market generate more revenue.

On the flipside, the discovery of new and complex diseases occurring in animals might increase the chances of contracting animal diseases such as bird flu, rabies, African swine flu, and others. Be it as it may, the rising incidence of these diseases are fueling the demand for more effective medicines and vaccines for animals. This might cause concern among animal owners and further propel the market for veterinary drugs.

The Asia Pacific to Exhibit Fastest Growth Rate

The Global Veterinary Drugs Market rate of animal adoption is more in North America as compared to other regions. This, coupled with, the introduction of new animal-related products in the region will help it emerge dominant at a global scale. In 2017, North America held the highest share in the global veterinary drugs market and was valued at US$ 6290.1 Mn. It is also expected to continue dominating the market through the forecast period.

Tags

Dale Martinez

Dale possesses an engineering degree in Electronics from the Georgia Institute of Technology. She is the sole contributor at the Healthcare IT column. Before opting to write, Dale worked at major firms such as Microsoft, Amazon, GE, Raytheon, and so on. She possesses vast knowledge about a variety of fields like IT, IoT, Telecommunications, Health Dialysis, photovoltaic, and many others. Dale is also a ballet dancer.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close