North America Accounts For Almost 60% Of The Global Animal Medicine Market

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The Business Research Company’s Veterinary Medicine Market Report – Opportunities & Strategies – Global Forecast to 2030

The Business Research Company’s Veterinary Medicine Market Report – Opportunities & Strategies – Global Forecast to 2030

LONDON, GREATER LONDON, UK, 6th July 2021 / – North America is the largest region in the world veterinary market with 58% of the market in 2020. The Asia-Pacific region is the second largest region according to accounts, accounting for 18% of the global veterinary drug market. Africa is the smallest region in the global animal health market.

The most important players in the veterinary industry are Zoetis Inc., Boehringer Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva Santé Animale.

The global veterinary market is segmented by type into veterinary drugs, feed additives, by animal species into farm animals, pets, and by end use in veterinary clinics, pharmacies and drug stores, and veterinary clinics.

The subsegments covered are veterinary vaccines, veterinary antibiotics, veterinary parasiticides, other veterinary pharmaceuticals, medicinal feed additives, nutritional feed additives.

Read more about the global Animal Health Market report:

Veterinary drug manufacturers have increasingly begun to produce combined drug-containing feed additives to improve the efficacy of the end product. Medical feed additives generally help maintain animal health and promote growth and feed efficiency. They are usually advertised as an additional nutrient or medicine for farm animals. Medicinal feed additives include vitamins, amino acids, fatty acids, pharmaceuticals, minerals, growth hormones and mushrooms. Around 70% of the companies in the medical feed additives market are introducing new medical feed additives that result from a combination of two or more medical feed additives to improve the efficiency of the product. In November 2018, Zoetis, the world’s largest manufacturer of veterinary drugs, received approval from the US FDA (Food and Drug Administration) for Cyden and Lincomix, a combined feed additive to be used as a medicated feed additive for poultry.

The global veterinary market is forecast to grow from $ 32.7 billion in 2020 to $ 37.88 billion in 2021, with an average annual growth rate (CAGR) of 15.8%. The growth is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which previously resulted in restrictive containment measures involving social distancing, remote working and the closure of commercial activities that created operational challenges. The veterinary medicine market is expected to reach $ 48.55 billion at a CAGR of 6% in 2025.

Veterinary medicine market – by type of medicine (veterinary drugs, feed additives), by type of additives (antibiotics, amino acids and antioxidants, vitamins, acidulants, enzymes, others), by animal species (cattle (dairy and meat purposes), poultry, other farm animals, Dogs and cats, other companion animals), by drug type (brand, generic), by type of prescription (OTC, prescription-only), by route of administration (oral, intravenous, subcutaneous, other), by distribution channel (veterinary services, online, other), according to Degree of regulation (highly regulated countries, weakly regulated countries) and by region, opportunities and strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides an overview of the Veterinary Medicine market, forecast market size and the Veterinary Medicine Market Growth for Whole Market, Veterinary Medicine Market Segments and Regions, Veterinary Medicine Market Trends, Veterinary Medicine Market Drivers, B. Restrictions, leading competition sales, profiles and market shares of goals.

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Veterinary Medicines Market – By Animal Type (Livestock, Companion Animal), By Drug Type (Animal Parasiticides, Animal Vaccines, Animal Antibiotics, Other), By Route Of Administration (Oral, Other), By End Use, And By Region, Opportunities And Strategies – Global Forecast To 2030

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July 06, 2021 10:58 GMT

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