As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
North America holds a significant share of the veterinary medicines industry owing to escalating pet ownership and spending in the region. The growing trend of pet insurance in the region is further increasing the demand for veterinary medicines, which is augmenting the industry growth. As countries such as the United States are some of the leading pioneers in veterinary research activities, the development of effective veterinary medicines is surging. Moreover, the increasing research and development (R&D) in institutions such as Cornell University and the University of Guelph in the region is expected to fuel the market growth in the forecast period.
Elanco Animal Health Incorporated (NYSE: ELAN), one of the leading companies in the market, announced that its Tanovea was approved by the Food and Drug Administration (FDA) of the United States in July 2021. The product is approved for the treatment of lymphoma in dogs to make this the first fully approved animal drug approved under the Minor Use and Minor Species (MUMS) Program. This also makes Tanovea one of the most preferred treatments for canine lymphoma. The product is expected to provide an effective treatment of lymphoma, the most prevalent cancer in dogs, to both veterinarians and pet owners. Moreover, the product was 80.4% effective for the treatment of dogs with B-cell lymphoma in clinical trials and is dosed in three-week intervals to ensure optimal quality of life of pets. Such developments are projected to drive the market growth in upcoming years.
Market Analysis by Product, Route of Administration, Animal Type, Distribution Channel, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global veterinary medicines market are Archer-Daniels-Midland Company, Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Evonik Industries AG, and Elanco Animal Health Incorporated, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.