Press release
Veterinary Pharmaceuticals Global Industry Growth Analysis, Trends and Future Insights Till 2030
The veterinary pharmaceuticals market consists of sales of veterinary pharmaceuticals by entities (organizations, sole traders and partnerships) that manufacture veterinary pharmaceuticals (or drugs) used to sedate, treat animal diseases and/or to improve animals' performance and health. The veterinary pharmaceuticals industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals.
Going forward, increasing penetration of pet insurance, rise in pet ownership, and increase in government initiatives. Factors that could hinder the growth of the veterinary pharmaceuticals market in the future include rising threat of antibiotic resistance, consolidation of customers and distributors, and reductions in free trade.
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Veterinary Pharmaceuticals Market Segmentation : -
By Type Of Pharmaceutical - The veterinary pharmaceuticals market can be segmented by type of pharmaceutical
1. Veterinary Parasiticides
2. Veterinary Vaccines
i. Live Attenuated Vaccines
ii. Inactivated Vaccines
iii. Recombinant Vaccines
iv. Others
3. Others - Veterinary Pharmaceuticals
4. Veterinary Antibiotics
The veterinary parasiticides market was the largest segment of the veterinary pharmaceuticals market, accounting for 29.4% of the total in 2019. It was followed by veterinary vaccines, veterinary pharmaceuticals, veterinary antibiotics. Going forward, veterinary vaccines segment is expected to be the fastest growing segment in the veterinary pharmaceuticals market.
By Animal Type - The veterinary pharmaceuticals market can be segmented by animal type
1. Livestock
2. Companion Animal
The livestock market was the largest segment of the veterinary pharmaceuticals market, accounting for 54.2% of the total in 2019. It was followed by companion animal.
By Route of Administration - The veterinary pharmaceuticals market can be segmented by route of administration
1. Oral
2. Others
The oral market was the largest segment of the veterinary pharmaceuticals market, accounting for 55.3% of the total in 2019. It was followed by others. Going forward, others is expected to be the fastest growing segment in the veterinary pharmaceuticals market.
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By End Use Channel - The veterinary pharmaceuticals market can be segmented by end use channel-
1. Veterinary Hospitals
2. Pharmacies And Drug Stores
3. Veterinary Clinics
The veterinary hospitals market was the largest segment of the veterinary pharmaceuticals market, accounting for 66.7% of the total in 2019. It was followed by pharmacies and drug stores and veterinary clinics. Going forward, veterinary clinics segment is expected to be the fastest growing segment in the veterinary pharmaceuticals market.
North America was the largest region in the global veterinary pharmaceuticals market, accounting for 46.8% of the total in 2019. It was followed by Western Europe, Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the veterinary pharmaceuticals market will be Asia Pacific and Africa.
Some of the major key players involved in the veterinary pharmaceuticals market are Zoetis Inc., Merck & Co., Inc., Elanco Animal Health Inc., Bayer AG, Virbac Group, Vetoquinol S.A., Jurox Pty Ltd, BASF India Ltd., Interfeed, Fujita Pharmaceutical, Chemo Argentina, DBK Pharma S.A.E, Saudi Pharmaceutical Industries (SPI), Vetanco, Chemo Argentina
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