Press release
Animal Medicine Market 2020 Research Provides An In-Depth Analysis On The Future Growth Prospects And Market Trends Adopted By The Competitors
The global animal medicine market consists of sales of veterinary medicines and related services by entities (organizations, sole traders and partnerships) that manufacture veterinary medicines used to treat animal diseases and/or to improve animals' performance and health. The animal medicine industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals, and establishments that manufacture medical feed additives and nutritional feed additives.
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Growth in the historic period resulted from strong economic growth in emerging markets driving pet care spending among the population, increased spending on pets globally, and increased disease prevalence among animals supporting the use of veterinary medicines, worldwide rise in meat consumption, and shortages of cheaper generic medicines in the animal medicine market. Factors that negatively affected growth in the historic period were shortages of veterinarians resulting in the low awareness levels of animal healthcare, the lack of awareness about animal healthcare in developed and developing market in general, and inappropriate use of medicines.
Animal Medicine Market Segmentation : -
By Type Of Medicine - The animal medicine market can be segmented by type of medicine
1. Veterinary Pharmaceuticals
a) veterinary parasiticides
b) veterinary vaccines
c) veterinary antibiotics
d) Others - veterinary pharmaceuticals
2. Feed Additives
a) medical feed additives
b) Nutritional feed additives
By Type Of Animal - The animal medicine market can be segmented by type of animal
1. livestock
2. companion animals
The animal medicine for livestock market was the largest segment of the animal medicine market by type of animal, accounting for $20.6 billion or 54.1% of the total in 2019. The animal medicine for companion animals market is expected to be the fastest-growing segment going forward at a CAGR of 16.1%.
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By Geography - The animal medicine market is segmented into
1. North America
2. Western Europe
3. Asia Pacific
4. Eastern Europe
5. South America
6. Middle East
7. Africa
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Some of the major key players involved in the animal medicine market are Zoetis, Inc., Boehringer Ingelheim GmbH, Merck & Co, Elanco Animal Health Inc., Bayer AG, Ceva Animal Health LLC - Biomune, Virbac Group, Phirbo Animal Health, Vetoquinol S.A., Kyoritsu Seiyaku, Century Pharmaceuticals Limited, BASF India Ltd., Bayer Animal Health Cadila Pharmaceuticals Ltd., Cargill India Pvt. Ltd., China Animal Healthcare Ltd., Ceva Sant Animale, Merck/MSD Animal Health, Intervet Australia Pty Ltd, Virbac (Australia) Pty Limited, Jurox Pty Ltd, Boehringer Ingelheim, Ceva Sante Animale, Boehringer Ingelheim, Nimrod Veterinary Products Ltd., Bimeda, Animalcare, MSD Animal Health, Interfeed, Biotex Plus Ltd.
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