Veterinary Drug Market Will Generate Record Revenue by 2029

Veterinary drug market is anticipated to grow at a significant CAGR during the forecast period. The major factors that are expected to accelerate the growth of the market during the forecast period include the increasing burden of chronic diseases among animals, the growing adoption of pets, and the increase in drug preferences by pet and poultry farm owners, coupled with increased demand for meat and animal-based products. As per the Centers for Disease Control and Prevention (CDC), zoonotic diseases are very common, both in the US and around the world. It is estimated that more than 6 out of every 10 known infectious diseases in people can be spread from animals, and over 3 out of every 4 new or emerging infectious diseases in people come from animals. Moreover, increasing meat consumption is another major factor that is propelling the growth of the market during the forecast period. 

Veterinary drugs are used by veterinary professionals to treat diseases, injuries and support the growth of animals. These are majorly used to cure diseases and prevent the spread of infectious diseases among animals. These drugs indirectly benefit human healthcare by restricting the spread of infectious diseases from animals to humans. Moreover, increasing R&D investments, high pet adoption rate, and growing consumption of meats and mandatory vaccination for the animals are anticipated to boost demand for veterinary drugs for animals in the near future. 

Recent Development

In October 2019, Ceva entered into an agreement with ProBioGen AG for manufacturing vectorized poultry vaccines using ProBioGen's proprietary AGE1.CR technology. This agreement has led both companies to expand their long-term partnership and long track record of developing innovative vaccines.

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Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030

Segment Covered- 

By Product Type 
By Route of Administration

Regions covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape: Zoetis Inc., Virbac S.A., and Elanco Animal Health Inc., among others.

A full Report of Veterinary Drug Market is Available @  https://www.omrglobal.com/industry-reports/veterinary-drug-market-overview

Veterinary Drug Market Report by Segment

By Product Type

Anti-infectives
Anti-Inflammatory
Parasiticides
Vaccines
Others

By Route of Administration

Oral
Parenteral
Topical

Veterinary Drug Market by Region

North America

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa

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