The Veterinary Therapeutics Market is projected to grow at a significant rate on account of rising demand for meat and meat products. Fortune Business Insights in its new report, titled “Veterinary Therapeutics Market Size, Share and Global Trend by Product Type (Drugs, Vaccines), Animal Type (Companion, Livestock), Route of Administration (Oral, Parenteral, Topical), Distribution Channels (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores) and Geography Forecast till 2025” finds that the growing population across the world is positively impacting the veterinary therapeutics market.
Some of the Main Key Players Covered in the Report:
- Merck Animal Health
- Zoetis Inc.
- Bayer Pharmaceuticals
- Boehringer Ingelheim
- CEVA LogisticsVetoquinol S.A.
Strict Government Rules May Restrict the Market
Certain factors may hamper the growth of the veterinary therapeutics market. The chief factor likely to restrict the market’s growth is implementation of stringent government regulations. In addition to this, minimum returns on research and development activities associated with veterinary therapeutic drug monitoring may impede the growth of the veterinary therapeutics market.
Increasing Access to Treatment for Companion Animals to Propel the Market
“The increasing research and development (R&D) activities in the veterinary therapeutics area will create ample opportunities for the market’s growth,” stated a lead analyst at Fortune Business Insights. “This has further resulted in the discovery of novel treatment and surgical capabilities for companion animals, which will positively impact the market’s growth,” he added. Also, the rising population across the world, combined with rising demand for food, will act as a chief growth driver of the global veterinary therapeutics market.
In addition to this, the rising demand for veterinary therapeutics treatment is an outcome of the growing preference among consumers for livestock, dairy products, and meat products. This is further encouraging companies to introduce novel veterinary therapeutics. Pet ownership is increasing in developing and developed countries, paving way for the entry of veterinary therapeutics and pharmacology. Moreover, there is a rising demand for high quality meat protein especially in developing countries.
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