Press Release

Veterinary Therapeutics Market 2020: Global Industry Trends, Growth, Size, Future Demands, Sales Revenue by Regional Forecast to 2025

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.

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In 2017, the global market for veterinary therapeutics was valued at US$ 35,005.2 Mn and is projected to reach a value of US$ 54,968.3 Mn by 2025. Furthermore, the report predicts the global market to expand at a CAGR of 5.8% during the forecast period.

Some of the Main Key Players Covered in the Report: 

  • Merck Animal Health
  • Zoetis Inc.
  • Elanco
  • Merial
  • Bayer Pharmaceuticals
  • Bayer
  • Boehringer Ingelheim
  • CEVA LogisticsVetoquinol S.A.
  • IDEXX
  • Virbac

In addition to this, fast approval on new products is also driving the therapeutic drugs segment. However, increasing number of restrictions on the use of antibiotics may offset the segment’s growth. Vaccines are also projected to gain popularity among other veterinary therapeutic products in the upcoming years. The rising need for treating diseases in animals is the major factor driving this segment. Among regions, North America is expected to lead the global veterinary therapeutics market.

Veterinary therapeutic drugs are expected to emerge dominant in the global veterinary therapeutics market by 2025. The segment covered a share of 51.1% in the year 2017 in the global market. This is ascribable to the rising use of therapeutic drugs on pets and growing awareness about animal health.

The region market was valued at US$ 11,124.6 Mn in the year 2017. The increasing adoption of veterinary products in this region is likely to create ample growth opportunities for the veterinary therapeutics market until 2025. Besides North America, Asia Pacific is anticipated to show considerable growth in response to growing demand for of vaccines and drugs in the region. Rising livestock population in countries such as China and India will drive the veterinary therapeutics and medicine in Asia Pacific.

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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.

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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.

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