Global Veterinary Medicines Market Analysis by Recent Developments and Business Outlook 2022-2030

Inkwood Research estimates that the Global Veterinary Medicines Market is predicted to evolve at a CAGR of 4.53% in terms of revenue during the forecasting years of 2019-2028.
"Browse 46 Market Data Tables and 52 Figures spread over 215 Pages, along with an in-depth TOC on the Global Veterinary Medicines Market Forecast 2019-2028."

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Veterinary medicines are characterized by drugs and other preparations employed for treating animals. For instance, preparations like medicated feed additives and vaccines are used to treat numerous medical complications, in animals. Moreover, such medicines also include various kinds of products like anti-infective drugs, typically used to kill, prevent, or delay the growth of fungi, bacteria, as well as various other infection-causing organisms. Anti-inflammatory drugs are also classified under veterinary medicines, and are regularly used for inflammation and pain-relief linked with osteoarthritis, and other medical ailments in companion animals and livestock.

Surging Livestock Population Projected to Propel Market Growth
Livestock plays a crucial role in the economy. For instance, statistics depict that livestock accounts for nearly 40% of the global agricultural gross domestic product (GDP), thereby making animal-health an essential part of the world's economic foundation. As a result, farm owners, worldwide, are continually trying to increase the number of livestock animals within their facilities. According to the United States Department Agriculture National Agricultural Statistics Service (USDA-NASS), the country's cattle and calves inventory has displayed a significant increase over the recent years, to more than 94 million. Likewise, beef cows comprised over 77% of the total cow inventory, as of January 2018. Moreover, as a predominantly agricultural country, India has observed a remarkable growth in the livestock population, for a long period. Thus, the surging livestock population is anticipated to create an increased demand for veterinary medicines.
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Vaccines are the Fastest-Growing Product
Veterinary vaccines entail pharmaceutical preparations providing animals with immunity against certain infectious medical diseases. It is also administered to pets and livestock animals as they are vulnerable to a vast range of medical conditions caused by bacteria, and viruses. As a result, vaccines are recognized as an effective medium for minimizing disease-burden in such animals. Besides, they are also employed for affordably raising livestock production, and preventing animal-to-human transmission of diseases from livestock and domestic animals.

North America Dominated the Global Market in 2019
North America is projected to maintain a growing trend over the forecast period, mainly due to the presence of key players within the region. Moreover, factors such as the growing demand for innovative veterinary treatment options, and increased animal expenditure are anticipated to bolster the North America veterinary medicines market growth.
The industrial rivalry across the global market is expected to remain high during the forecast years, since the market is dominated by players that account for the majority of the revenue. Some of the distinguished enterprises operating in the market include, Elanco, Virbac SA, Boehringer Ingelheim Animal Health GmbH, Merck & Co, etc.

Related Reports:
GLOBAL VETERINARY VACCINES MARKET
GLOBAL VETERINARY IMAGING MARKET
GLOBAL ANIMAL NUTRITION MARKET

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