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Global Veterinary Medicine Market 2023 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | Zoetis Inc., Merck & Co. Inc., Elanco Animal Health Incorporated, Dechra Pharmaceuticals Plc, Ceva Sante Animale
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Veterinary Medicine Global Market Report 2023 identifies increase in demand for biofuels is expected to propel the growth of the Veterinary Medicine market. Biofuels are a cleaner-burning substitute generated from renewable resources, including fresh and used vegetable oils and animal fats. The rising environmental concerns and increasing demand for the adoption of renewable and sustainable energy sources favor the need for biofuel. Veterinary Medicine is a biofuel that helps reduce the carbon footprint of transportation and other industries.
The global veterinary medicine market size is expected to grow from $26.94 billion in 2022 to $28.87 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary medicine market size is expected to grow to $37.08 billion in 2027 at a CAGR of 6.5%.
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Major players in the veterinary medicine market are Zoetis Inc., Merck & Co. Inc., Elanco Animal Health Incorporated, Dechra Pharmaceuticals Plc, Ceva Sante Animale, Virbac, Boehringer Ingelheim International GmbH, Kindred Biosciences, Inc., Biogenesis Bago SA, Indian Immunologicals Limited, Neogen Corporation, Hester Biosciences Limited, Phibro Animal Health, Nutreco N.V., and Vetoquinol S.A.
A key trend in the Veterinary Medicine market includes the product innovation is a key trend moving forward in the veterinary medicine market. Major companies operating in the veterinary medicine market are introducing new products, such as Stelfonta injectables, to sustain their position in the market.
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The Veterinary Medicine market is segmented -
1) By Product: Drugs, Vaccines, and Medical feed additives
2) By Animal Type: Companion animals, Livestock animals
3) By Route of Administration: Oral route, Parental route, Topical route
4) By Distribution Channel: Veterinary Hospital Pharmacies, Retail Veterinary Pharmacies
5) By End-use: Reference Laboratories, Point-of-Care Testing/In-House Testing, Veterinary Hospitals and Clinics, Other End-users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Veterinary Medicine market.
The Business Research Company's "Global Veterinary Medicine Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Veterinary Medicine Market Include:
1. Executive Summary
2. Veterinary Medicine Market Characteristics
3. Veterinary Medicine Market Trends And Strategies
4. Veterinary Medicine Market - Macro Economic Scenario
5. Veterinary Medicine Market Size And Growth
……
27. Veterinary Medicine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Veterinary Medicine Market
29. Veterinary Medicine Market Future Outlook and Potential Analysis
30. Appendix
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