Animal Medicine Market Analysis, Status and Business Outlook 2021- Boehringer Ingelheim, Zoetis, Elanco Animal Health, Bayer Animal Health

The Latest report about the Animal Medicine market provides a detailed evaluation of the business vertical in question, alongside a brief overview of the industry segments. An exceptionally workable estimation of the present industry scenario has been delivered in the study, and the Animal Medicine market size with regards to the revenue and volume have also been mentioned. In general, the research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.

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Animal Medicine Market accounted for $22,973 million in 2019, and is expected to reach $29,698 million by 2027, registering a CAGR of 4.6% from 2020 to 2027.

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendors/manufacturers in the market. The key manufacturers covered in this report: Boehringer Ingelheim, Zoetis, Elanco Animal Health, Bayer Animal Health, Merck Animal Health, Virbac, Dechra Veterinary Products, Ceva, Vetoquinol, Meiji, Ouro Fino Saude, Animalcare Group, Parnell

News and Updates

In August 2020, Merck acquired IdentiGEN, a company dealing in DNA-based animal traceability solutions for aquaculture and livestock.

In August 2020, Elanco acquired Bayer’s Animal Health Business to expand Elanco’s scale and capabilities, positioning the company for the long term as a leader in the attractive, durable animal health industry.

Market Regional Analysis

North America has dominated the veterinary medicine market so far and is expected to do so even in the forecast period. Key contributing factors attributing toward the dominance are the increasing prevalence of zoonotic diseases, favorable reimbursement programs, and the rising expenditure on companion animals. As per the American Veterinary Medical Association (AVMA) report, in the United States in 2019, expenditure on pets reached over USD 95.7 billion, with dogs and cats contributing to a major share. Also, increasing the adoption of pet health insurance in the United States is also expected to boost the market growth. The rise in the concentration of the major veterinary hospitals in this region offering good reimbursement rates is adding fuel to the market growth. The consolidation of large healthcare also causes growth in the market due to an increase in buying power of the healthcare players, which results in economies of scale.

Asia Pacific market for veterinary medicine is also anticipated to offer tremendous growth opportunities over the forecast period. Higher adoption of companion animals coupled with increasing awareness regarding the animal has promoted market growth in the region. In addition, rising expenditure on animal health and veterinary services and cattle population are some of the major factors that are driving the market for veterinary medicine.

Animal Medicine Market Segmentation:

Breakdown Data by Type

Oral

Injection

Other

Animal Medicine Breakdown Data by Application

Companion Animals

Livestock Animals

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Animal Medicine market, covering important regions, viz, North America, Europe, China, and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

Strategic Points Covered in TOC:

The report focuses on global major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials, equipment and downstream consumers analysis is also carried out. What's more, the Animal Medicine industry development trends and marketing channels are analyzed. Finally, the feasibility of new investment projects is assessed, and overall research conclusions are offered.

Animal Medicine market research includes the methodical description of the various factors such as the market growth and detailed information about the different company’s revenue, technological developments, production, and the various other strategic developments. The regional spaces of significant components, including the capacity, cost, price, technology, supplies, profit, and competition are analyzed.

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Animal Medicine Analysis and Strategies Carry Out as below:

The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the Animal Medicine market report.
The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the Animal Medicine market and their impact on the revenue scale of this business sphere.
The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the Animal Medicine Market report.

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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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