The global demand for Veterinary Medicine Market is presumed to reach the market size of nearly USD 53.12 MN by 2028 from USD 30.4 MN in 2021 with a CAGR of 8.3%% under the study period 2022 - 2028.
Veterinary medicine refers to the medicine used for the prevention, control, diagnosis and treatment of animal diseases and injuries. It also includes animal rearing, husbandry, breeding, research on nutrition, and product development. It prevents and cures pain and sickness in animals. Veterinary care and management are usually led by a veterinary surgeon or vet. It helps to maintain food supply through livestock health monitoring and treatment and mental health by keeping pets healthy and long-living. It also ensures that animal products are safe and prevent foodborne pathogens. It increases the efficiency and profitability of farming.
Market Dynamics
The key factor driving the demand for this market is the increasing cases of zoonotic & chronic diseases. The rising adoption rate of pet animals and the need for better treatment options for companion animals is surging the demand for this market. The rising prevalence of various medical conditions in animals coupled with an increase in animal healthcare expenditure is fostering the demand for this market. Moreover, growing awareness among people regarding animal health and a surge in demand for livestock products are propelling the demand for this market. Rising procedural advancements, increasing consumption of meats & mandatory vaccination are expanding the demand for this market. Furthermore, Increasing R&D activities and growing investments in the veterinary industry are anticipated to boost the growth of this market over the forecast period.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of veterinary medicine. The growth and trends of veterinary medicine industry provide a holistic approach to this study.
Market Segmentation
This section of the veterinary medicine market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Animal Type
- Production (Poultry, Swine, Cattle, Sheep & Goats, Fish)
- Companion (Dogs, Cats, Horses, Others)
By Product
- Biologics
- Pharmaceuticals
- Medicated Feed Additives
By Mode Of Delivery
- Oral (Powder, Tablets)
- Parenteral
- Suspension
- Topical
- Carrier
By End-Use
- Reference Laboratories
- Point-Of-Care Testing/In-House Testing
- Veterinary Hospitals & Clinics
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Veterinary Medicine market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Veterinary Medicine Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the veterinary medicine market include Merck Animal Health, Ceva Sante Animale, Vetoquinol S.A., Zoetis, Boehringer Ingelheim GmbH, Elanco, Nutreco N.V., Virbac, Kindred Biosciences, Inc., Biogenesis Bago, Indian Immunologicals Ltd., Neogen Corp., Hester Biosciences, Philbro Animal Health. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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