Veterinary Medicine Market is Prospering at USD 42.12 Billion Forecast by 2029, Size, Share, Emerging Trends, Historic Analysis and Industry Growth Factors

MELBOURNE, Australia, Sept. 20, 2022 /PRNewswire/ — Recent study report released by Data Bridge Market research titled ‘Global Veterinary Medicine Market’ (covering USA, Europe, China, Japan, India, South East Asia and etc.) that highlighting opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. The veterinary medicine market report includes specific and current data about customer needs, preferences, and preferences that vary from product to product. The websites, journals, mergers, and annual reports of the firms listed in this veterinary medicine study are all considered reliable sources for the information and data used in this analysis. This market study makes it simpler to build and optimise the engagement, acquisition, retention, and monetization phases of any given industrial process. This veterinary medicine market study considers your company’s aims and needs to provide you with appropriate and sufficient answers.

Data Bridge Market Research analyses that the veterinary medicine market was valued at USD 23.36 billion in 2021 and is expected to reach USD 42.12 billion by 2029, registering a CAGR of 6.40% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, and regulatory framework.

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Basic Idea of Veterinary Medicine –

Animals, like humans, are susceptible to a variety of diseases such as parasites, bacteria, fungi, and viruses. Veterinary medicine helps agricultural animals and pets live longer and healthier lives. Humans are becoming increasingly concerned about the spread of zoonotic and chronic diseases among animals. Increasing the life expectancy of pets requires better diet and the development of healthcare facilities. The expanding number of pets leads to an increase in chronic diseases. All these factors headed to the introduction of veterinary medicine in the market.

Any substance used to treat various medical issues in animals is referred to as veterinary medication. Veterinary medicine includes drugs such as anti-infectives and parasiticides that are given to animals orally. Vaccines are also used in veterinary medicine to promote immunity in animals against viral diseases such as equine influenza (EIV) and parainfluenza 3-respiratory syncytial virus. Medicated feed additives, which are blended with animal feed to produce medicinal benefits in animals, are also included. Veterinary medicine is also employed in a variety of species, including companion animals such as dogs and cats as well as livestock animals including cattle, pigs, and chickens.

Global Veterinary Medicine Market:-

The veterinary medicine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to veterinary medicine market.

Some of the major players operating in the veterinary medicine market are

  • Merck & Co.Inc. (US)
  • Bayer AG (Germany)
  • Boehringer Ingelheim International GmbH. (Germany)
  • Vetoquinol (France)
  • Zoetis (US)
  • Ceva (France)
  • Cargill Incorporated (US)
  • Nutreco (Netherlands)
  • Virbac (France)
  • Kindred Biosciences Inc. (US)
  • Biogénesis Bagó (Argentina)
  • NEOGEN Corporation (US)
  • Hester Biosciences Limited. (India)
  • ADM (US)
  • Norbrook (UK)
  • Dechra Pharmaceuticals PLC (UK)
  • Evonik Industries AG (Germany)

Recent Development

  • In August 2020, Elanco acquired Bayer’s Animal Health Business to increase its scale and capabilities, positioning it as a long-term leader in the lucrative and long-lasting animal health business.

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The report provides insights on the following pointers:

  1. Market Penetration: Comprehensive information on the product portfolios of the top players in the veterinary medicine market.
  2. Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
  3. Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
  4. Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
  5. Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the veterinary medicine market

Market Drivers:-

  • Increasing demand for pet insurance policies will flourish the market’s growth rate.

The growing use of pet health insurance to pay for veterinarian services in industrialized countries is expected to fuel market growth. Canada, the U.K., and Sweden all have a thriving pet health insurance sector. The use of pet health insurance has increased dramatically in China. The expanding awareness and understanding of pet health and the growing popularity of pets are two important aspects that have aided in the adoption of pet healthcare insurance.

  • Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of veterinary medicine market is the rising healthcare expenditure which helps in improving its infrastructure.

Furthermore, rising initiatives by public and private organizations to spread awareness about animal health and rising use prevalence of veterinary professionals are the factors that will expand the veterinary medicine market. Other factors such as increasing consumption of meat and mandatory vaccinations and rising livestock population will positively impact the veterinary medicine market’s growth rate. Additionally, enhancing pet ownership rate and rising incidences of obesity in companion animals will expand the veterinary medicine market. Increasing demand for online veterinary pharmacies will act as a major factor influencing the growth rate of veterinary medicine market.   

Opportunities:-

  • Rise in the investments and research funding for veterinary medicine will flourish the growth rate

Moreover, the rise in level of investments and funds for research and development activities will boost new opportunities for the market’s growth rate.

  • Increasing incidences of zoonotic diseases among livestock animals will promote various growth opportunities

The increase in incidences of zoonotic diseases among livestock animals will boost various opportunities for the market’s market’s growth and influence market dynamics. The increased incidence and financial burden of zoonotic illnesses among livestock animals propelled the livestock animals sector to occupy more than 63 percent of the animal pharmaceuticals market share in 2020. Bacterial parasites thrive by preying on farm animals, causing widespread sickness and financial hardship.

Also, advancement in medical technology and increasing research and development activities will provide beneficial opportunities for the veterinary medicine market in the forecast period of 2022-2029.

Restraints/Challenges

However, high cost associated with the veterinary medicines will impede the growth rate of veterinary medicine market. Additionally, the increasing number of counterfeit drugs and growing occurrences of various infections will hinder the veterinary medicine market growth. The emergence of unfavourable conditions due to the COVID-19 outbreak and lack of awareness will further challenge the market in the aforementioned forecast period.

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Market Segmentation:- Veterinary Medicine

Product

  • Biologics
  • Pharmaceuticals
  • Medicated Feed Additives

Animal Type

Route of Administration

End-Use

  • Reference Laboratories
  • Point-of-Care Testing/In-House Testing
  • Veterinary Hospitals and Clinics

Regional Analysis and Insights:-

The veterinary medicine market is analysed and market size insights and trends are provided by country, product, animal type, route of administration, and end-use as referenced above.

The countries covered in the veterinary medicine market report are U.S., Canada and Mexico in North America, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa.

North America dominates the veterinary medicine market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and well-developed healthcare infrastructure in this region. Additionally, the prevalence of favourable government policies and increasing initiatives to improve animal health will further propel themarket’s growth rate in this region.

Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the expansion of manufacturing facilities and vaccination for livestock animals.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

To Check the Complete Table of Contents Click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-veterinary-medicine-market

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Veterinary Diagnostics Market, By Product (Instruments and Reagents, Consumables), Technology (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Haematology, Urinalysis, Others), Animal Type (Companion Animals, Livestock Animals), Disease Type (Infectious Diseases, Non-infectious Diseases, Hereditary, Congenital, and Acquired Diseases, General Ailments, Structural and Functional Diseases), Species (Bovine, Camelid, Canine and Feline, Caprine, Equine, Ovine, Porcine, Avian, Others), End User (Reference Laboratories, Veterinary Hospitals and Clinics, Point-of-Care/In-House Testing, Research Institutes and Universities).

U.S. Veterinary Diagnostics Market, By Product (Consumables, Reagents & Kits, Instruments & Devices), Species (Bovine, Camelid, Caprine, Canine & Feline, Equine, Ovine, Porcine, Avian, Others), Testing Category (Analytical Services, Diagnostic Imaging, Bacteriology, Pathology, Molecular Diagnostic, Immunoassays, Parasitology, Serology, Virology), Disease Type (Infectious Diseases, Non Infectious Diseases, Heridatary, Congenital, General Ailments, Structural & Functional Diseases), End Use (Veterinary Hospitals &Clinics, Laboratories, Point Of Care, Research Institutes, Others), Country (U.S.) Industry Trends and Forecast. 

Veterinary Care Market, By Medicalization Type (No Medicalization, Basic Medicalization, Under Long Term Veterinary Care), Animal Type (Dogs, Cats, Horses, Cattle, Pigs, Poultry), End User (Veterinary Hospitals, Veterinary Clinics, Veterinary Laboratory Testing Services, Others), Product (Therapeutics, Diagnostics), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa).

Veterinary Rapid Test Market, By Product (Rapid Test Kit, Rapid Test Readers), Application (Viral, Bacterial, Parasite, Allergies), Animal Type (Companion, Livestock), Test Kits (Canine Test Kits, Feline Test Kits, Livestock Test Kits), End User (Reference Laboratories, Veterinary Hospitals, Clinics), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa).

Veterinary Ventilators Market, By Type (Non Circulating Loop Ventilator, Circulatory Loop Ventilator), Product Technology (Mechanical, Electronic, Pneumatic, Electro-Pneumatic), Application (Anesthesia, Resuscitation), End User (Veterinary Hospitals, Veterinary Clinics), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa).

Veterinary Active Pharmaceutical Ingredients Manufacturing Market, By Service Type (In-house, Contract Outsourcing), Synthesis Type (Chemical-based API, Biological API, HPAPI), Product (Antiparasitic, Anti-infectives, NSAIDs, Vaccines, Biologics, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa).

Veterinary Telehealth Market, By Animal Type (Livestock and Companion), Service Type (Telemedicine, Teleconsulting, Telemonitoring and Others), Application (Computed Tomography (CT) Reporting, Radiographic Reporting, X-Ray and Picture Archiving and Communication System (PACS) Advice, Magnetic Resonance Imaging (MRI) Reporting and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa).

Veterinary Anti-Infective Market, By Species Type (Livestock Animals, Companion Animals), Drug Class (Antimicrobial Agents, Antiviral Agents, Antifungal Agents, Antiparasitic Agents, Others), Mode of Administration (Oral, Parenteral, Topical), Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa).

Veterinary Surgical Sutures Market, By Type of Suture (Absorbable, Non-Absorbable), Animal Type (Large Animal, Small Animal), Application (Soft Tissue Surgery, Gynaecology and Urology Surgery, Orthopaedic Surgery, Others), End User (Hospitals, Veterinary Clinics, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa).

PET Nuclear Medicine Market By Type (F-18, Rb-82, Others), Application (Oncology, Cardiology, Neurology, Other PET Applications), Procedure (Diagnostic Procedures, Therapeutic Procedures), End User (Hospitals and Diagnostic Centers, Research Institutes), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa).

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