Veterinary Medicine Market
The rise in the prevalence of various diseases in animals and the increasing demand for animal products are also fueling the growth of the veterinary medicine market.
PORTLAND, OREGON, U.S., Jan. 5, 2022 /EINPresswire.com/ – Veterinary Medicine Market: Global Opportunity Analysis and Industry Forecast, 2019-2027 report published by Allied Market Research, the study presents the industry’s upcoming revenue forecast for the next few years paired with upcoming market trends and opportunities. In addition, the study also distributes various logical tables and graphs to identify the complexity of the market. A full and comprehensive assessment of the aspects that drive and restrain market growth is also provided throughout the study. This detailed study of the market size and the proper segmentation will help market participants to define the predominant opportunities that are emerging.
Animals are an essential part of human life as humans use them as food, work and society. In addition, animals suffer from various diseases that require immediate attention and treatment. Products such as medicines, vaccines and medicinal feed additives that are used in the treatment of animals are defined as veterinary medicinal products. The global veterinary medicine market was valued at $ 22 billion in 2019 and is projected to reach $ 29 billion by 2027, a CAGR of 4.6% from 2019 to 2027.
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Major factors contributing to the growth of the veterinary drug market include the increase in the number of pet owners and the increase in the number of livestock around the world. In addition, factors such as the increase in the prevalence of various diseases in animals and the increasing demand for animal products are fueling the growth of the veterinary medicine market.
The global Veterinary Medicine market is segmented on the basis of the product, route of administration, animal type, sales channels, and region for the purpose of enabling detailed market valuation. By product, it is divided into pharmaceuticals, vaccines, and medicinal feed additives. According to the route of administration, the market is divided into oral route, parenteral route and topical route. According to the species, it is divided into domestic animals and farm animals. According to the distribution channel, it is divided into veterinary clinics, veterinary clinics as well as pharmacies and drug stores. By region, the Veterinary Medicine market size is analyzed in North America, Europe, Asia-Pacific, and LAMEA.
Covid-19 impact analysis:
In addition, the COVID-19 pandemic is another important factor that is having a profound impact on the veterinary market worldwide due to the nationwide lockdowns. As a result, these lockdowns have created new challenges and changes that are arduous to master and which every business suffers. For example, in the veterinary drug industry, COVID-19 has resulted in a decline in the demand for veterinary drugs. However, the supply is in good condition and is ensured by appropriate state institutions in various countries. Thus, the overall impact of the COVID-19 outbreak has been negative on the veterinary drug market due to factors such as fewer vet visits and the postponement of annual pet exams.
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Main benefits for stakeholders:
• This report provides detailed quantitative analysis along with current global Veterinary Medicine market trends from 2019-2027 to identify the prevailing opportunity as well as strategic assessment.
• The Veterinary Medicine market forecast is studied from 2020-2027.
• The size and estimates of the Veterinary Medicine market 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 of key market players are used to understand the competitive scenario of the market.
The study provides a comprehensive analysis of the key players in the global Veterinary Medicine market, including Zoetis, Inc., Merck & Co., Inc. (Intervet International BV), Elanco Animal Health, Dechra Pharmaceuticals PLC, Ceva Santé Animale, Virbac., Vetoquinol SA, Boehringer Ingelheim International GmbH., ADM Animal Nutrition and Evonik Industries AG.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR provides targeted business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services in 11 industries including Life Sciences, Consumer Goods, Materials and Chemicals, Construction and Manufacturing, Food and Beverage, Energy and Energy, Semiconductors and Electronics, Automotive and Transportation, ICT and Media, Aerospace and Defense, and BFSI .
We have professional business relationships with various companies and this helps us unearth market data which helps us to produce accurate research data tables and confirms the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help customers succeed in every possible way. All of the data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the domain in question. Our method of obtaining secondary data involves in-depth online and offline research and discussions with knowledgeable professionals and industry analysts.
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January 06, 2022 at 03:33 GMT
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