Press release
Brazil Pet Veterinary Drugs Market will multiply at an impressive CAGR of 7.1% by 2024 & Top Key Players Bayer Animal Health, Ceva Animal Health, Elanco Animal Health, Merck Ltd., Zoetis Animal Healthcare, Virbac do Brasil Industria e Comercio Ltd.
The Brazil pet veterinary drugs market has been segmented by oral drugs into drugs, vaccines, inactivated vaccines, attenuated vaccines, recombinant vaccines, feed additives, amino acids and antibiotics, out of which, recombinant vaccines is estimated to garner notable valuation by the end of 2024 owing to the prevalence of pet diseases coupled with increasing number of pet population in the Brazil.
The Brazil Pet Veterinary Drugs Market is expected to reach significant market share by the end of 2024 by expanding at a compound annual growth rate of around 7.1% over the period 2017-2024. Rising number of serious diseases among pet animals and penetration of internet has magnified the business prospects for the Brazil pet veterinary drugs market. Further, the rising demand for pet veterinary drugs among pet owners is anticipated to propel the market growth by 2024.
In Brazil, State of Rio Grande Do Sul held the dominant share in overall Brazil pet veterinary drugs market during 2016 and is anticipated to retain its dominant position over the period 2017-2024 owing to the high adoption rate of pets in the state. Further, high disposable income and concern regarding pets among pet owners are some of the major factors that are anticipated to benefit the expansion of the Brazil pet veterinary drugs market over the forecast period. Additionally, Santa Catarina, Parana and Sao Paulo are expected to hold the significant market shares in Brazil pet veterinary drugs market during the forecast period.
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Healthcare Standards by Government Reflects Significant Opportunities
Growing infections and diseases in pet animals combined with risk of the infections being transmitted to humans are the major growth drivers behind the demand for antibacterial and anti-parasitic veterinary drugs. Further, rise in government protocols to protect humans from animal transferable disease along with ensuring the quality, safety and efficacy of animal health care products is believed to supplement the growth of the Brazil pet veterinary drugs market during the forecast period. However, lack of awareness about veterinary products and recent economic recession in Brazil is expected to hamper the growth of Brazil pet veterinary drugs market in the near future.
The report titled “Brazil Pet Veterinary Drugs Market Analysis & Opportunity Outlook 2024” delivers detailed overview of the Brazil pet veterinary drugs market in terms of market segmentation by application, by oral drugs, by conditions, by route of administration and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the Brazil pet veterinary drugs market which includes company profiling of Bayer Animal Health, Ceva Animal Health, Elanco Animal Health, Merck Ltd., Zoetis Animal Healthcare, Virbac do Brasil Industria e Comercio Ltda, Merial Animal Health, Vetnil, UCBVET and J.A. Animal Health. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Brazil pet veterinary drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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