Veterinary Pharmaceuticals Market Size, Share Analysis, Growth Trends And Forecast 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Veterinary Pharmaceuticals Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The veterinary pharmaceuticals market size has grown strongly in recent years. It will grow from $32.53 billion in 2023 to $35.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased pet population, the increased overall spending by individuals on pets, the growing penetration of e-commerce platforms promoting online pharmacies, the emerging markets growth, the increasing government initiatives and the increased disease prevalence..

The veterinary pharmaceuticals market size is expected to see strong growth in the next few years. It will grow to $46.54 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to the increasing pet ownership, the increasing population growth, the increasing disposable income, the increasing urbanization, the increasing penetration of pet insurance and the growing government support will drive the market.. Major trends in the forecast period include focus on stem cell therapy to treat animals, focus on application of nanotechnology in veterinary medicines to tackle antibiotic resistance, development of chewable tablets, focus on use of telemedicine platforms to reduce the impact of covid-19, development of advanced vaccines, focus on super-combo parasiticides, use of subunit and virus-like particle (vlp)-based vaccines and focus on strategic partnerships and collaborations. .

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Key Market Players:

Major companies operating in the veterinary pharmaceuticals market report are Zoetis Inc, Merck & Co., Inc, Boehringer Ingelheim International Gmb, Elanco Animal Health Incorporated, Ceva Sante Animale, Virbac SA, Dechra Pharmaceuticals PLC, Vetoquinol S.A., Phibro Animal Health Corporation, Kyoritsu Seiyaku Corporation, National Meditek, Fartovet Industry Limited, Hebei Chengshengtang Animal Pharmaceutical, Shijiazhuang Fengqiang Animal Pharmaceutical Co,.Ltd, Vvaan Lifesciences Private Limited, Century Pharmaceuticals Limited, Cargill India Pvt. Ltd., Jurox Pty Ltd, Bayer, Veteq, Nimrod Veterinary Products Ltd., Bimeda, Orion Animal Health, Petmedix, Eco Animal Health, Teknofarma, Farmavet, Candioli Pharma, Suanfarma, Marino Ibericamed, MPA veterinary, Lamons Laboratories SA, Swetrade Pharmaceuticals AB, Animalcare, VET-AGRO Sp. z o. o, CANPOLAND SA, Cymedica,, VIC Group, NITA-FARM, Apicenna LLC, Delos Medica, Provet Group, VitOMEK LCC,, Bioveta AS, Veterinarski Zavod Subotica, PharmaGal s.r.o.,, Bond Vet, trifecta Pharmaceuticals USA LLC., Trifecta Pharmaceuticals USA LLC., Bio-Synthesis Inc, Small Door Veterinary, Fuzzy, Alberta Veterinary Laboratories Ltd., Veterinary Purchasing Co. Ltd.,, Maure, Peru Animal Hospital, Miami County Veterinary Clinic, Cindy Fouts, UCBVET, Syntec, Sauvet, Vetanco, Chemo Argentina, Brouwer, Agrovet Market Animal Health, Lemavet, Primo Veterinary Medicines Trading LLC., AL Kubara Veterinary Medicines Trading LLC., Eurovets Veterinary Suppliers, Physio Evolution, Herzliya Veterinary Hospital, Oron Veterinary Center, Dr Aviram Ezra - Veterinarian, Saudi Pharmaceutical Industries, DBK Pharma S.A.E., Dawa Limited, Aesthetics Limited, Neimeth International Pharmaceuticals, Osy-Adamu Pharmaceutical Co., M S J Afro Agro Pharmacy, Global Vet (U) Ltd

Market Drivers:

The increase in the prevalence rate of diseases among animals serves as one of the major drivers for the veterinary pharmaceuticals market. The increase in the incidence of diseases in livestock and companion animals will require medicines to treat the animals for the diseases. For instance, according to the Banfield State of Pet Health Report, the prevalence of diabetes in dogs has increased by 79.7% from 13.1 cases per 10,000 to 23.6 cases whereas the prevalence rate increased by 18% in cats. The increase in the prevalence rate of diseases among animals results in an increased demand for veterinary pharmaceuticals market.

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The veterinary pharmaceuticals market covered in this report is segmented -
1) By Type: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Other Veterinary Pharmaceuticals
2) By Type Of Animal: Livestock, Companion Animals
3) By Type Of Vaccine: Inactivated Vaccines, Attenuated Vaccines, Recombinant Vaccines, Other Vaccines
4) By Route Of Administration: Oral, Parenteral, Topical, Other Routes Of Administration
5) By End User: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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