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LONDON, May 26, 2021 (GLOBE NEWSWIRE) – According to Business Research Company’s research report on the Veterinary Medicines Market, the Veterinary Medicines Market is focused on a small number of large players who dominate the market. The Top ten competitors made in the market 71% Major players in the market include Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co. Inc., Elanco Animal Health Incorporated, Ceva Santé Animale, Virbac Group, Dechra Pharmaceuticals PLC, Phibro Animal Health Corporation and Vetoquinol SA and Kyoritsuseiyaku Corporation.
The global veterinary drug market reached nearly $ 30,862.3 million in 2020, after having grown at a compound annual growth rate (CAGR) of 7.4% since 2015 $ 30,862.3 million in 2020 to $ 63,786.5 million in 2025 at a rate of 15.6%. The global market size for veterinary medicinal products is then expected to grow by a CAGR of 14.6% from 2025 and achieve $ 125,844.5 million in 2030.
The COVID-19 pandemic impacted the supply side of the veterinary services market by impacting leading global veterinary pharmaceutical companies, cutting down on new product launches, introducing higher security measures, and canceling events, conferences and exhibitions. The COVID-19 crisis affected the demand side of the veterinary drug market by stocking up on veterinary drugs, buying veterinary drugs online, increasing pet ownership and acceptance, and limiting emergency services provided by veterinarians.
Business Research Company report, titled Veterinary Pharmaceuticals Market – By Animal Species (Farm Animals, Pets), By Type of Medicines (Veterinary Parasiticides, Veterinary Vaccines, Veterinary Antibiotics, Other), By Route Of Administration (Oral, Other), By End Use, And By Regions, Opportunities and Strategies – Global Forecast By 2030, it covers Large Veterinary Medicines Companies, Veterinary Medicines Market Share by Company, Veterinary Medicines Manufacturers, Veterinary Medicines Market Size, and Veterinary Medicines Market Forecasts. The report also covers the global Veterinary Medicines Market and its segments.
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Growing awareness of animal health is likely to drive the veterinary drug market over the forecast period. It is important to monitor the health of the animal to prevent outbreaks of animal disease and to support the normal functioning of an organism and behavior. Many programs and campaigns are run to support the animal health market. For example, the Irish government launched Animal Health Awareness Week on November 23, 2020, while MSD Animal Health launched the “Protect Our Future Too” (#ProtectOurFutureToo) campaign in over 30 countries in Europe, Russia, North Africa and the Middle East to raise awareness the risks to our pets caused by seasonal changes such as warmer months in autumn and winter and higher temperatures in general. This type of animal health awareness program will indirectly power the veterinary drug market.
North America is the largest region in the veterinary drug market 44.9% This is followed by the Asia-Pacific region, Western Europe and the other regions. Forward that fastest growing regions in the veterinary market will be Africa and South America where the growth in CAGRs will be from 24.1% and 21.2% each in the period 2020-2025. It is followed by Asia Pacific and Eastern Europe, where markets are expected to post CAGRs of 20.3% and 20.2% respectively over the 2020-2025 period.
Veterinary Drugs Market – By Animal Species (Farm Animals, Pets), By Drug Type (Veterinary Parasiticides, Veterinary Vaccines, Veterinary Antibiotics, Other), By Route Of Administration (Oral, Other), By End Use, And By Region, Opportunities And Strategies – Global Forecast To 2030 belongs to a series of new reports from The Business Research Company providing market overviews, market size and growth for the entire market, segments and regions, trends, drivers, restraints and sales of leading competitors analyze and forecast, profiles and market shares in 1,000+ industry reports covering over Covering 2,500 market segments and 60 regions. The report also includes an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 records, extensive desk research and exclusive insights from interviews with industry leaders. A very experienced and competent team of analysts and modelers provides market analyzes and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and the approaches of leading competitors.
Here is a list Of Similar reports from the Business Research Company:
Veterinary Market – By type of medicine (veterinary drugs, feed additives), By type of additive (antibiotics, amino acids and antioxidants, vitamins, acidulants, enzymes, others), By species (cattle (dairy and meat purposes), poultry, other farm animals, dogs and cats, other pets), by drug type (brand, generic), by type of prescription (OTC, prescription), by route of administration (oral, intravenous, subcutaneous, other), by distribution channel (veterinary services, online, other), by degree of regulation (Highly Regulated Countries, Loosely Regulated Countries) and by Region, Opportunities and Strategies – Global Forecast to 2030
Veterinary Health Market – By Type (Veterinary Services, Veterinary Equipment, and Veterinary Medicine), Plus by Region, Opportunities and Strategies – Global Forecast to 2023
Pet Veterinary Vaccines Animal Market Report 2021: COVID 19 Growth And Change By 2030
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