"To prosper in this competitive market place, businesses are highly benefited if they adopt innovative solutions such as Veterinary Medicine Market research report. The data and information concerning the Veterinary Medicine Market industry are derived from consistent sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts. Moreover, Veterinary Medicine Market report gives idea to clients about the market drivers and restraints with the help of SWOT analysis and also provides all the CAGR projections for the historic year 2021, base year 2022 and forecast period of 2023-2030.
With the help of market intelligence, industry experts assess strategic options, outline successful action plans and aid companies make critical bottom-line decisions. The finest Veterinary Medicine Market business report makes knowledgeable about the market and competitive landscape which supports with enhanced decision making, better manage marketing of goods and decide market goals for better profitability. When this report goes along with right tools and technology, it helps tackle the uncertain challenges for the business. What is more, Veterinary Medicine Market research report is a source which provides current as well as upcoming technical and financial details of the industry to 2030.
Data Bridge Market Research analyses a growth rate in the veterinary medicine market in the forecast period 2023-2030. The expected CAGR of veterinary medicine market is tend to be around 6.90% in the mentioned forecast period. The market was valued at USD 24.97 billion in 2022 and would grow to USD 42.59 billion by 2030.
Explore Further Details about This Research Veterinary Medicine Market Report https://www.databridgemarketresearch.com/reports/global-veterinary-medicine-market
Veterinary Medicine Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Product (Biologics, Pharmaceuticals, Medicated Feed Additives), Animal Type (Production, Companion), Route of Administration (Oral, Parenteral, Others), End-User (Reference Laboratories, Point-of-Care Testing/In-House Testing, Veterinary Hospitals and Clinics, Others) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Merck & Co., Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim International GmbH. (Germany), Vetoquinol (France), Zoetis (U.S.), Ceva (France), Cargill, Incorporated (U.S.), Nutreco (Netherlands), Virbac (France), Kindred Biosciences, Inc. (U.S.), NEOGEN Corporation (U.S.), Hester Biosciences Limited. (India), ADM (U.S.), Norbrook (U.K.), Dechra Pharmaceuticals PLC (U.K.), Evonik Industries AG (Germany) |
Market Opportunities |
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Market Definition
Veterinary medicine includes drugs such as anti-infectives and parasiticides that are provided to animals orally. Vaccines are also used in veterinary medicine to help immunity in animals against viral diseases such as equine influenza (EIV) and parainfluenza 3-respiratory syncytial virus. Medicated feed additives are mixed with animal feed to produce medicinal benefits in animals. Veterinary medicine is also used in a number of species, which includes companion animals such as dogs and cats along with livestock animals including cattle, pigs, and chickens
Veterinary Medicine Market Dynamics
Drivers
- Rising demand for pet insurance policies
The increasing use of pet health insurance to pay for veterinarian services in several industrialized countries is anticipated to boost the market growth. Canada, the U.K., and Sweden all have a flourishing pet health insurance sector. The wide use of pet health insurance has increased intensely in China. The increasing awareness and wide understanding of pet health and the increasing popularity of pets are two important parts that have aided in the adoption of pet healthcare insurance.
- Rising occurrences of zoonotic diseases among livestock animals
The rise in occurrences of zoonotic diseases among livestock animals will increase the numerous opportunities for the market's growth and influence market dynamics. The increased occurrence and financial burden of zoonotic illnesses among livestock animals boosted the livestock animals sector to occupy more than 63 % of the animal pharmaceuticals market share in the year 2020. Furthermore, bacterial parasites thrive by preying on farm animals, that causes huge sickness and financial hardship.
Opportunities
- Increasing Rate of Pet Owners
A major increase in the number of pet owners is boosting the need for better treatment options for companion animals, resulting in increased health expenditure on pets. As per the American Pet Products Association, the total spending in the U.S. pet industry rise to USD 103.6 billion in 2020 from USD 97.1 billion in 2019, and it is assessed to reach more than USD 109.6 billion in 2022.Furthermore, around 67% of households in the U.S. owned a pet, that is equal to approximately 84.9 million homes in 2020.
Reasons to Consider This Report
- To understand the Veterinary Medicine Market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Veterinary Medicine Market
- Efficiently plan M&A and partnership deals in Veterinary Medicine Market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form cannabis seeds market
- Obtain market revenue forecast for Veterinary Medicine Market by various segments from 2022-2029 in regions.
Why choose Data Bridge Market Research?
- Modern technologies, such as artificial intelligence, to provide updated industry growth.
- DBMR team provides clients with the top notch Veterinary Medicine Market research report.
- Interaction with research scientists and development heads to understand the nature of the Veterinary Medicine Market more precisely.
- 24/7 availability of services.
- Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.
DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Veterinary Medicine Market size
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