Veterinary Medicine Market Fastest Growing and Highest Revenue Generating Segments, Key Trends, and Competitive Scenario

Veterinary Medicine Market

The growth of this segment is attributed to the large number of parenteral formulations offered by the major players in the market.

PORTLAND, OREGON, September 27, 2022 / — Asia-Pacific is expected to exhibit the fastest growth rate due to the increasing awareness about the use of veterinary drugs. Other factors driving the market growth include increasing awareness about animal health and increasing ownership of companion animals in the region. Major factors contributing to the growth of the veterinary medicine market include increase in the number of pet owners and increase in livestock population worldwide.


Moreover, factors such as increase in various medical conditions in animals and rise in demand for livestock products also fuel the growth of the veterinary medicine market. Increase in animal healthcare expenditure is another major factor driving the market growth. However, lack of veterinary infrastructure in underdeveloped nations and stringent regulations related to medical feed additives restrict the growth of the veterinary drug market. On the other hand, increasing awareness about animal health provides a lucrative opportunity for the veterinary medicine market.

On the basis of product, the pharmaceuticals segment accounted for the major share in 2019, due to factors such as increased parasite infestation in animals and spread of various infections, which are treated using anti-infectives. By route of administration, the parenteral segment accounted for the largest share of the veterinary drug market in 2019. The growth of this segment is attributed to the large number of parenteral formulations offered by the major players in the market.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲@

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
• 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,
• Evonik Industries AG.

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
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Allied Analytics LLP
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September 27, 2022, 08:33 GMT

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