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Global Veterinary Medicines Market: By Product: Drugs, Vaccines, Medicated Feed Additives; By Route of Administration: Oral Route, Others; By Animal Type; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Veterinary Medicines Market Outlook

The global veterinary medicines market attained a value of about USD 21.7 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 4.6% to reach nearly USD 28.4 billion by 2026.

 

Increasing Pet Ownership Bolstering the Market Growth of Veterinary Medicines

The market for veterinary medicines is being driven by the growing pet ownership, especially among the millennial and Gen-Z population. According to the American Pet Products Association, about USD 103.6 billion were spent on pets in the United States in 2020 itself. As pet parents are increasingly spending to enhance the lifespan of their pets, the demand for veterinary medicines is surging, which is propelling the market growth. The trend of pet ownership has further been fuelled by the COVID-19 outbreak owing to the increasing dependence on companion animals for emotional support during stay-at-home orders and nationwide lockdowns. This is expected to surge the demand for medicines for pets, which is projected to bolster the growth of the veterinary medicines industry in upcoming years.

 

Global Veterinary Medicines Market

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The rising prevalence of epidemics and outbreaks among animals is increasing the demand for vaccines for animals, which is fuelling the industry growth. As innovations in vaccine technology are leading to the development of more efficient vaccines, pet parents are increasingly preferring them. In addition, the growing demand for alternative medicines for animals to minimise the use of antibiotics is augmenting the market growth. Hence, the development of effective immunotherapy for animals to treat bacteria-related diseases is estimated to augment the growth of the veterinary medicines industry in the forecast period.

 

Veterinary Medicine: Industry Definition and Segmentation

Veterinary medicine refers to the branch of science that deals with control, prevention, diagnosis, and treatment of diseases, of both wild and domestic animals. It ensures the safety of companion animals as well as food products derived from animals. It aids in monitoring the health of animals to prevent the risk of zootomic diseases, which can seldom affect humans.

The major products of veterinary medicine are:

  • Drugs
  • Vaccines
  • Medicated Feed Additives

Drugs segment can be further divided into anti-infective, anti-inflammatory, and parasiticide, whereas the vaccines segment is further classified into inactivated vaccines, attenuated vaccines, and recombinant vaccines. Meanwhile, the medicated feed additives segment is further bifurcated into amino acids and antibiotics.

The market can be broadly categorised on the basis of its routes of administration into:

  • Oral Route 
  • Parenteral Route 
  • Topical Route

By animal type, the market is bifurcated into:

  • Companion Animals
  • Livestock Animals

Based on distribution channels, the market is divided into:

  • Veterinary Hospital Pharmacies
  • Retail Veterinary Pharmacies

The EMR report looks into the regional markets of veterinary medicines like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Technological Advancements and Innovations to Augment the Growth of the Veterinary Medicines Industry

The adoption of the latest technological advancements and innovations is fuelling the market for veterinary medicines. This is also surging the cost-effectiveness of animal treatment, thereby strengthening the market growth. As veterinarians are increasingly adopting technologies such as Big Data and artificial intelligence (AI) to provide optimal medicinal treatment to animals, the deployment of effective medicines for animals is escalating. Moreover, the trend of animal wearable devices is also boosting the focus on animal health, hence augmenting the growth of the veterinary medicines industry. The increasing availability of effective animal treatment in developing countries is also accelerating the demand for veterinary medicines.

The initiation of various research activities to enhance the quality of life of animals is expected to drive the market growth. The development of predictive biomarker tools that can aid in early diagnostic of pathology or disease is increasing the demand for veterinary medicines, which is projected to bolster the market growth. In addition, the trend of preventive care is escalating the demand for medicines to decrease the risk of disease contraction and infection in animals and is anticipated to catalyse the growth of the veterinary medicines industry in the forecast period.

 

Key Industry Players in the Global Veterinary Medicines Market

The report presents a detailed analysis of the following key players in the global veterinary medicines market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Archer-Daniels-Midland Company
  • Boehringer Ingelheim International GmbH
  • Dechra Pharmaceuticals PLC.
  • Evonik Industries AG
  • Elanco Animal Health Incorporated
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Route of Administration, Animal Type, Distribution Channel, Region
Breakup by Product Drugs, Vaccines, Medicated Feed Additives
Breakup by Route of Administration Oral Route, Parenteral Route, Topical Route
Breakup by Animal Type Companion Animal, Livestock Animals
Breakup by Distribution Channel Veterinary hospital pharmacies, Retail veterinary pharmacies
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Archer-Daniels-Midland Company, Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Evonik Industries AG, Elanco Animal Health Incorporated, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global 
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Veterinary Medicines Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Veterinary Medicines Historical Market (2016-2020) 
    8.3    Global Veterinary Medicines Market Forecast (2021-2026)
    8.4    Global Veterinary Medicines Market by Product
        8.4.1    Drugs
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Anti-Infective
                8.4.1.4.2    Anti-inflammatory
                8.4.1.4.3    Parasiticide
        8.4.2    Vaccines
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Inactivated Vaccines
                8.4.2.4.2    Attenuated Vaccines
                8.4.2.4.3    Recombinant Vaccines
        8.4.3    Medicated Feed Additives
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
            8.4.3.4    Breakup by Type
                8.4.3.4.1    Amino Acids
                8.4.3.4.2    Antibiotics
    8.5    Global Veterinary Medicines Market by Route of Administration
        8.5.1    Oral Route 
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Parenteral Route 
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Topical Route
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
    8.6    Global Veterinary Medicines Market by Animal Type
        8.6.1    Companion Animal
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Livestock Animals
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Veterinary Medicines Market by Distribution Channel
        8.7.1    Veterinary hospital pharmacies
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Retail veterinary pharmacies
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
    8.8    Global Veterinary Medicines Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Archer-Daniels-Midland Company
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Boehringer Ingelheim International GmbH
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Dechra Pharmaceuticals PLC.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Evonik Industries AG
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Elanco Animal Health Incorporated
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Global Veterinary Medicines Market: Key Industry Highlights, 2016 and 2026
2.    Global Veterinary Medicines Historical Market: Breakup by Product (USD Million), 2016-2020
3.    Global Veterinary Medicines Market Forecast: Breakup by Product (USD Million), 2021-2026
4.    Global Veterinary Medicines Historical Market: Breakup by Route of Administration (USD Million), 2016-2020
5.    Global Veterinary Medicines Market Forecast: Breakup by Route of Administration (USD Million), 2021-2026
6.    Global Veterinary Medicines Historical Market: Breakup by Animal Type (USD Million), 2016-2020
7.    Global Veterinary Medicines Market Forecast: Breakup by Animal Type (USD Million), 2021-2026
8.    Global Veterinary Medicines Historical Market: Breakup by Distribution Channel (USD Million), 2016-2020
9.    Global Veterinary Medicines Market Forecast: Breakup by Distribution Channel (USD Million), 2021-2026
10.    Global Veterinary Medicines Historical Market: Breakup by Region (USD Million), 2016-2020
11.    Global Veterinary Medicines Market Forecast: Breakup by Region (USD Million), 2021-2026
12.    North America Veterinary Medicines Historical Market: Breakup by Country (USD Million), 2016-2020
13.    North America Veterinary Medicines Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Europe Veterinary Medicines Historical Market: Breakup by Country (USD Million), 2016-2020
15.    Europe Veterinary Medicines Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Asia Pacific Veterinary Medicines Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Asia Pacific Veterinary Medicines Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Latin America Veterinary Medicines Historical Market: Breakup by Country (USD Million), 2016-2020
19.    Latin America Veterinary Medicines Market Forecast: Breakup by Country (USD Million), 2021-2026
20.    Middle East and Africa Veterinary Medicines Historical Market: Breakup by Country (USD Million), 2016-2020
21.    Middle East and Africa Veterinary Medicines Market Forecast: Breakup by Country (USD Million), 2021-2026
22.    Global Veterinary Medicines Market Structure

Key Questions Answered in the Report

In 2020, the global veterinary medicines market attained a value of nearly USD 21.7 billion.

The market is projected to grow at a CAGR of 4.6% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 28.4 billion by 2026.

The market is being driven by the increasing pet ownership and the rising demand for veterinary vaccines to prevent the risk of zoonotic diseases in animals.

The industry is expected to be augmented by technological advancements and innovations, the cost-effectiveness of animal treatment, and the increasing research and development (R&D) activities.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major products of veterinary medicines in the industry are drugs, vaccines, and medicated feed additives.

The various routes of administration of veterinary medicines are oral route, parenteral route, and topical route.

The different animal types of veterinary medicines are companion animals and livestock animals.

The significant distribution channels in the market are veterinary hospital pharmacies and retail veterinary pharmacies.

The major players in the industry are Archer-Daniels-Midland Company, Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Evonik Industries AG, and Elanco Animal Health Incorporated, among others.

Analyst Review

The global veterinary medicines market attained a value of nearly USD 21.7 billion in 2020, driven by the increasing pet ownership. Aided by technological advancements and innovations, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 4.6%. The market is projected to reach about USD 28.4 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its products, the veterinary medicines industry can be segmented into drugs, vaccines, and medicated feed additives. On the basis of routes of administration, the market is categorised into oral route, parenteral route, and topical route. By animal types, the market is bifurcated into companion animals and livestock animals. On the basis of distribution channels, the industry is divided into veterinary hospital pharmacies and retail veterinary pharmacies. The major regional markets for veterinary medicines are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Archer-Daniels-Midland Company, Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Evonik Industries AG, and Elanco Animal Health Incorporated, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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