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Global Animal Medicine Market 2023: Key Competitors, SWOT Analysis, Business Opportunities, Trend Analysis
Animal Medicine Market
As per the animal medicine market report by The Business Research Company, the increasing penetration of pet insurance is expected to drive the animal medicine market. Globally, the pet insurance market is largely untapped with extremely low penetration rates, providing a large market opportunity.
The global animal medicine market grew from $46.91 billion in 2022 to $50.47 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The animal medicine market is expected to grow from $65.12 billion in 2027 at a CAGR of 6.6%.
Read More On The Animal Medicine Market Report Here:
https://www.thebusinessresearchcompany.com/report/animal-medicine-global-market-report
Major competitors in the animal medicine market include Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co, Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC - Biomune, Phirbo Animal Health, Dechra Pharmaceuticals, Virbac Group, and Vetoquinol S.A
The animal medicine market is segmented -
By Type: Veterinary Pharmaceuticals, Feed Additives
By Type of Animal: Livestock, Companion Animals
By End-Use: Veterinary Hospitals, Pharmacies And Drug Stores, Veterinary Clinics
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the animal medicine market.
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Animal medicines refer to a collective term for drugs and therapies, including veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals, that are used to treat animal diseases to improve animals' performance and health by identifying disease symptoms and drugs for the cure of illness. the main types of animal medicines are veterinary pharmaceuticals and feed additives, which are used for livestock and companion animals. Veterinary pharmaceuticals refer to animal medicine that is given to animals for treating diseases. Animal medicine is used by veterinary hospitals, pharmacies, drug stores, and veterinary clinics.
The Table Of Content For The Animal medicine market Include:
1. Executive Summary
2. Report Structure
3. Animal Medicine Market Characteristics
4. Animal Medicine Market Product Analysis
5. Animal Medicine Market Supply Chain
.......
22. Key Mergers And Acquisitions In The Animal Medicine Market
23. Market Background: Veterinary Healthcare Market
24. Recommendations
25. Appendix
26. Copyright And Disclaimer
The "Global Animal medicine market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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