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Veterinary Medicine Market Growing at a CAGR of 8.1% From 2018 To 2023 | Research Analysis, Industry Size, Share and Growth
Veterinary Medicine Market
Veterinary medicine, which deals with prevention, diagnosis and treatment of diseases, disorder, and injury in animals. Veterinary medicine is widely practiced worldwide due to increasing number of pet adoptions, rising veterinary expenditure, increase in the number of veterinary professionals and rising demand for pet insurance. There is increase in the awareness about animal’s health, government initiatives, and many NGOs are working for animal health care.
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Global Veterinary Medicine Market is expecting a huge growth in the coming years due to increasing love for pet and increasing demand for poultry animals. The considerable decisions in research and development in the veterinary medicine is expected to boost the growth of market. Additionally, strict policies from government for wild animal’s welfare across the region also boost the growth of the market. The Global Veterinary Medicine Market is expected to grow at a CAGR of 8.1% during forecasted period 2017-2023.
Veterinary Medicine Market - Segmentation
Veterinary Medicine Market is broadly segmented into animal types and diagnostics. Animal types is sub-segmented into companion animals, domesticated animals and poultry animals. Based on diagnostics, it is sub-segmented into clinical chemistry, various vaccines, and other veterinary diagnostics products. On the basis of the products it is sub-segmented into injury medicine, disorder medicine, and diagnosis medicine and On the basis of the route of administration it is sub-segmented into Parental, oral, and topical.
Veterinary Medicine Market - Key Players
The major key players in Global Veterinary Medicine Market are Zoetis, Inc. (Pfizer), Merck & Co., Inc. (Intervet), Eli Lilly and Company (Elanco/Novartis), Bayer Healthcare AG, Ceva Santé Animale, Virbac S.A, Vetoquinol SA, Boehringer Ingelheim GmbH, Nutreco N.V. and Sanofi S.A. (MERIAL Limited). Major animal feed additive manufacturers are Cargill Inc. (Provimi), ADM Alliance Nutrition, Koninklijke DSM N.V and Evonik Industries AG among others.
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Veterinary Medicine Market - Regional Analysis
On the regional basis, the Veterinary Medicine Market is segmented into America, Europe, Asia pacific, and the Middle East & Africa. America dominates the global market for veterinary medicine as it is well developed country and has good animal welfare policies. America spends huge amount in animal welfare and research in veterinary medicine market.
The Americas accounts for a significant market share owing to high expenditure on the health care especially of the U.S. and Canada.
Europe is the second largest market in the world due to growing healthcare industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Europe records for second largest market due to animal favoured government policies and tax benefits for pet animals are major driving forces in European market.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. Asia Pacific is fastest growing veterinary medicine market. Increasing private veterinary clinics and awareness among people regarding animal welfare. Increasing NGOs work for welfare of animals and government campaign for welfare of pet animal are driving forces for growth of market in this region.
Some Brief Table of Contents
CHAPTER 1 INTRODUCTION
1.1 DEFINITION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.2.2.1 ASSUMPTIONS
1.2.2.2 LIMITATIONS
1.3 MARKET STRUCTURE
CHAPTER 2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
CHAPTER 3 MARKET DYNAMICS
3.1 DRIVERS
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 MACROECONOMIC INDICATORS
CHAPTER 4 MARKET FACTOR ANALYSIS
4.1 PORTERS FIVE FORCES MODEL
4.2 BARGAINING POWER OF SUPPLIERS
TOC Continued….
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