0
2020
Veterinary Medicine Market

Veterinary Medicine Market

by Product (Drugs, Vaccines, and Medicated Feed Additives), Route of Administration (Oral Route, Parenteral Route, and Topical Route), Animal Type (Companion Animals and Livestock Animals), and Distribution Channel (Veterinary Hospitals Pharmacies, and Retail Veterinary Pharmacies): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A03026
Pages: 307
Jul 2020 | 16593 Views
Author(s) : Sanjivan G , Onkar S
Tables: 156
Charts: 61
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Veterinary Medicine Market

Request Now !

Veterinary Medicine Market Overview:

The veterinary medicine market accounted for $22,973 million in 2019, and is expected to reach $29,698 million by 2027, registering a CAGR of 4.6% from 2020 to 2027. 

Veterinary medicine is termed as any product used to treat various medical conditions in animals. For instance, veterinary medicine include drugs such as anti-infective drugs and parasiticides, which are administered orally in animals. Similarly, veterinary medicine also includes vaccines, which are used to build immunity in animals against various infectious diseases such as equine influenza (EIV) and parainfluenza 3-respiratory syncytial. In addition, they also include medicated feed additives, which are mixed with animal feed to provide pharmaceutical effects in animals. Moreover, veterinary medicine is used in various type of animals including companion animals such as dogs and cats and livestock animals such as cattle, pigs, and poultry. Furthermore, the medicine is administered in animals via different routes such as drugs are manly administered through oral route, vaccines are given through parenteral route, and some parasiticidal drug preparations are administered through topical route. 

Veterinary-Medicine-Market-2020-2027

Some medical conditions in animals that are treated using veterinary medicine include pain and inflammation associated with osteoarthritis, hookworm, whipworm, infections, and others.

The major factors that contribute toward the growth of the veterinary medicine market include rise in number of pet owners and surge in livestock population across the globe. Furthermore, factors such as surge in prevalence of various medical conditions in animals and rise in demand for livestock products also boost the veterinary medicine market growth. In addition, rise in animal healthcare expenditure is another major factor that fuels growth of the market. However, lack of veterinary infrastructure facilities in underdeveloped nations and stringent regulations associated with medicate feed additives restrict veterinary medicine market growth. Conversely, increase in awareness toward animal health offers a lucrative opportunity for the veterinary medicine market.

Moreover, COVID-19 pandemic has also affected the market adversely. For instance, after COVID-19 was declared as a pandemic by WHO, countries worldwide adopted nationwide lockdowns to observe social distancing as a measure to contain the spread. This lead to disruption, limitation, challenges and changes in each sector of every industry. Similarly, veterinary medicines industry was also impacted by the pandemic. For instance, veterinary organizations across the globe have recommended limiting animal patient care to acutely ill animals and emergencies. Furthermore, the lockdowns have led to rescheduling of annual checkup exams and elective procedures. However, various key players have ensured the supply of veterinary medicines as the governmental institutions across the globe are taking strict measures to maintain the supply. Therefore, overall impact of COVID-19 on the veterinary market remains fairly negative, owing to fall in demand as veterinary visits are limited and animal healthcare approach is changed to providing care to emergency cases and critically ill animals.

Veterinary Medicine Market Segmentation  

The global veterinary medicine market is segmented on the basis of product, route of administration, animal type, distribution channel, and region to provide a detailed assessment of the market. By product, it is divided into drugs, vaccines, and medicated feed additives. The drugs segment is further divided into anti-infective, anti-inflammatory, and parasiticide. In addition, the vaccines segment is divided into inactivated vaccines, attenuated vaccines, and recombinant vaccines. Similarly, the medicated feed additives segment is divided into amino acids and antibiotics.

By route of administration, the market is classified into oral route, parenteral route, and topical route. By animal type, it is divided into companion animals and livestock animals. By distribution channel, it is classified into veterinary hospitals, veterinary clinics, and pharmacies & drug stores. By region, the veterinary medicine market size is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment Review

On the basis of product, the drugs segment held a dominant share in 2019, owing to factors such as rise in prevalence of parasites in animals and surge in prevalence of various infections, which are treated using anti-infective drugs. Furthermore, other factors that contribute to growth of the market include surge in awareness related to use of drugs in animals and rise in adoption of veterinary drugs across the globe.

Veterinary Medicine Market
By Product

Your browser does not support the canvas element.

Vaccines segment is projected as one of the most lucrative segment.

Get more information on this report : Request Sample Pages

By route of administration, the parenteral segment occupied largest share of the veterinary medicine market in 2019. Growth of this segment is attributed to large number of parenteral formulations offered by key players in the market. In addition, the topical segment exhibited the fastest growth as the key players have increased their focus toward launching novel topical products for treatment of parasites.  

Veterinary Medicine Market
By Route Of Administration

Your browser does not support the canvas element.

Parenteral route segment held a dominant position in 2019 and will continue to maintain the lead over the forecast period.

Get more information on this report : Request Sample Pages

In 2019, North America accounted for major share of the veterinary medicine market size, and is expected to continue this trend, owing to surge in number of companion animal owners and easy availability of veterinary medicines. Moreover, other factors such as surge in animal health expenditure also boost growth of the veterinary medicine market in the region. Asia-Pacific is expected to exhibit fastest growth rate, owing to surge in awareness related to use of veterinary medicines. Other factors that boost growth of the market include surge in awareness related to animal health and rise in ownership of companion animals in the region. 

Veterinary Medicine Market
By Geography

2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific region would exhibit the highest CAGR of 6.3% during 2020-2027.

Get more information on this report : Request Sample Pages

The global veterinary medicine market is highly competitive and the prominent players in the market have adopted various strategies to garner maximum veterinary medicine market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Zoetis, Inc., Merck & Co., Inc. (Intervet International B.V.), Elanco Animal Health, Dechra Pharmaceuticals PLC, Ceva Santé Animale, Virbac., Vetoquinol S.A., Boehringer Ingelheim International GmbH., ADM Animal Nutrition, and Evonik Industries AG.

Key Benefits For Stakeholders

  • This report entails a detailed quantitative analysis along with the current global veterinary medicine market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
  • The veterinary medicine market forecast is studied from 2020 to 2027. 
  • The veterinary medicine market size and estimations are based on a comprehensive analysis of key developments in the industry. 
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

Veterinary Medicine Market Report Highlights

Aspects Details
By Product
  • Drugs
    • Anti-infective
    • Anti-inflammatory
    • Parasiticide
  • Vaccines
    • Inactivated Vaccines
    • Attenuated Vaccines
    • Recombinant Vaccines
  • Medicated Feed Additives
    • Amino Acids
    • Antibiotics
By Route Of Administration
  • Oral Route
  • Parenteral Route
  • Topical Route
By Animal Type
  • Companion Animals
  • Livestock Animals
By Distribution Channel
  • Veterinary Hospital Pharmacies
  • Retail Veterinary Pharmacies
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, .Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Archer Daniels Midland, Boehringer Ingelheim International GmbH, Ceva Santé Animale, Dechra Pharmaceuticals PLC., Elanco Animal Health Incorporated., Evonik Industries AG (RAG Stiftung), Merck & Co., Inc., Soparfin SCA., Virbac SA., Zoetis Inc.
 

Loading Table Of Content...


 
 

In accordance to several interviews conducted, the utilization of veterinary medicine is likely to witness a significant rise due to factors such as surge in prevalence of various medical conditions in animals, which require the use of veterinary medicines. Furthermore, experts of key companies believe that factors such as surge in population of livestock animals across the globe, rise in demand for livestock animal products, and increase in animal healthcare expenditure also fuel growth of the market. 

The other major factors that contribute toward the growth of the market include rise in awareness associated with animal healthcare and launch of novel and advanced veterinary products in the market. Moreover, on the basis of region, the North America veterinary medicine market acquired majority share, owing to rise in animal healthcare expenditure and easy availability of veterinary medicines. Similarly, Asia-Pacific is expected to exhibit fastest growth rate during the forecast period, owing to factors such as surge in awareness associated with the use of veterinary medicine and rise in population of livestock and companion animals.


 

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The total market value of veterinary medicine market is $22,973.06 million in 2019.

A. The forecast period for veterinary medicine market is 2020 to 2027

A. The market value of veterinary medicine market in 2019 is $21,691.17 million.

A. The base year is 2019 in veterinary medicine market

A. Top companies such as, Zoetis, Inc., Merck & Co., Inc., Boehringer Ingelheim International GmbH., Elanco Animal Health, and Ceva Santé Animale held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in different regions.

A. Vaccines segment is the most influencing segment as these products saves cost that can incur from diseases in future and also play a major role in safeguarding health of livestock animals by prevent transmission and spread of contagious animal diseases (zoonotic diseases) from animals to people and from animal to animal.

A. The major factor that fuels the growth of the global veterinary medicine market includes rise in prevalence of various medical conditions in animals such as inflammation, canine disptemper and others which require the use of veterinary medicine

A. Asia-Pacific has the highest growth rate in the market which is growing due to the contribution of the following emerging countries such as China with a CAGR of 7.9%. This is due to rise in ownership of companion animals in the region and surge in awareness related to animal healthcare.

A. Veterinary medicine is defined as a drug or other preparations employed in the treatment of animals

A. Animals suffer from various medical conditions, which require immediate attention and treatment. Thus, veterinary medicines are employed in treatment of medical conditions in animals.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Veterinary Medicine Market

Start reading instantly.
This Report and over 19,661+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Jul 2021 - Jul 2022)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jul 2021 - Jul 2022)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jul 2021 - Jul 2022)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jul 2021 - Jul 2022)
  • Enterprise
    License/PDF

  • $10,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jul 2021 - Jul 2022)
  • Library
    Membership

  • $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers