According to a new report published by Allied Market Research, titled, “Veterinary Medicine Market by Product, Route of Administration, Animal Type, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2019–2027,” the global veterinary medicine market was valued at $22 billion in 2019, and is expected to reach $29 billion by 2027, registering a CAGR of 4.6% from 2019 to 2027.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐨𝐮𝐜𝐡𝐞𝐫: https://www.alliedmarketresearch.com/request-sample/3366
Animals are integral part of human life as humans use them for food, labor, and companionship. In addition, animals suffer from various medical conditions, which require immediate attention and treatment. Products such a drugs, vaccines, and medicated feed additives, which are used in the treatment of animals are defined as veterinary medicines. Moreover, there are different types of drugs used in companion animals and livestock animals. For instance, drugs include anti-infective, anti-inflammatory and parasiticide, which are employed in treatment of conditions such as hookworm and inflammation. In addition, products such as inactivated vaccines, attenuated vaccines, and recombinant vaccines are also employed in the treatment of various medical condition in animals. Furthermore, medicated feed additives such as amino acids and antibiotics are also used for treatment of animals. Moreover, veterinary medicines are administered through different routes such as oral, parenteral and topical. Furthermore, drugs, vaccines and other veterinary medicine products are used in companion animals and livestock animals.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲: https://www.alliedmarketresearch.com/purchase-enquiry/3366
The global veterinary medicine market is segmented on the basis of product, route of administration, animal type, distribution channels, and region to provide a detailed assessment of the market. By product, the market is divided into drugs, vaccines, and medicated feed additives. The drugs segment is further divided into anti-infective, anti-inflammatory, and parasiticide. In addition, the vaccines segment is divided into inactivated vaccines, attenuated vaccines, and recombinant vaccines. Similarly, the medicated feed additives segment is divided into amino acids and antibiotics. By route of administration, the market is classified into oral route, parenteral route, and topical route. By animal type, it is divided into companion animals, and livestock animals. By distribution channels, it is classified into veterinary hospitals, veterinary clinics, and pharmacies & drug stores. By region, the veterinary medicine market size is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa and rest of LAMEA).
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
In addition, COVID-19 pandemic is another major factor that has profound effects on the veterinary medicine market due to the nationwide lockdowns across the globe. Thus, these lockdowns have led to emergence of new challenges and changes which are tedious to manage and every business is suffering. For instance, in veterinary medicines industry, COVID-19 has resulted in a decline of demand for veterinary medicines. However, the supply has been in a good state and is ensured in by respective governmental institutions present in various countries. Thus, the overall impact of COVID-19 outbreak has been negative for the veterinary medicine market due to factors such as less veterinary visits and postponing of annual checkups of companion animals.
- This report entails a detailed quantitative analysis along with the current global veterinary medicine market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
- The veterinary medicine market forecast is studied from 2020 to 2027.
- The veterinary medicine market size and estimations 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 adopted by the key market players are enlisted to understand the competitive scenario of the market.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: https://www.alliedmarketresearch.com/request-for-customization/3366
In 2019, North America accounted for the major share of the veterinary medicine market size, and is expected to continue this trend, owing to surge in number of companion animal owners and easy availability of veterinary medicines. Moreover, other factors such as surge in animal health expenditure also boost growth of the veterinary medicine market in North America. Asia-Pacific is expected to exhibit fastest growth rate, owing to surge in awareness related to use of veterinary medicines. The other factors that boost growth of the market include surge in awareness related to animal health and rise in ownership of companion animals in the region.
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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