Press release
Animal Medicine Market Size Projected To Reach $69.05 Billion By 2034 With A Cagr Of 6.1%
Animal Medicine
What Is the Projected Growth of the Animal Medicine Market?
Over the past few years, the animal medicine market has witnessed significant growth. The market size is projected to escalate from $51.09 billion in 2024 to $54.59 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. This remarkable growth during the historical period is linked to factors such as enhanced spending on pets, an upsurge in animal healthcare expenditure, and a growing adoption of pet insurance.
The market for animal medicine is projected to experience considerable expansion in the coming years, with expectations to reach a value of $69.05 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.1%. Factors contributing to this predicted growth during the forecast period include an increase in disease prevalence in animals, a rise in pet ownership, escalated consumption of animal-based products, and government initiatives that support this sector. Notable trends that are anticipated to emerge during this period are advanced parasiticides, strategic alliances and partnerships to foster innovation, creation of chewable medications, the establishment of mobile veterinary services, a focus on the development of fresh and innovative products, a growing emphasis on e-commerce within the pet care sector, and an escalated focus on medicated feed additives.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3603
What Are the Different Animal Medicine Market Segments?
The animal medicine market covered in this report is segmented -
1) By Medicine: Veterinary Pharmaceuticals, Feed Additives
2) By Type Of Animal: Companion Animal, Livestock Animals
3) By Type Of Prescription: OTC, Prescription
4) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
5) By Distribution Channel: Veterinary Services, Online, Other Distribution Channels
Subsegments:
1) By Veterinary Pharmaceuticals: Antimicrobials (Antibiotics, Antifungals), Anti-inflammatory Drugs (Non-Steroidal Anti-Inflammatory Drugs - NSAIDs), Vaccines, Anesthetics, Hormonal Treatments
2) By Feed Additives: Nutritional Supplements (Vitamins, Minerals), Probiotics And Prebiotics, Antioxidants, Growth Promoters, Antimicrobial Feed Additives
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3603&type=smp
What Are the Primary Drivers Shaping the Animal Medicine Market?
The expected growth in pet insurance uptake is predicted to stimulate the animal medicine market. Worldwide, the market for pet insurance is largely unexploited with an exceedingly low penetration rate, indicating a significant market prospect. Specifically, in mature economies such as the USA, the rate of penetration for pet insurance stands at around 1%. However, in Western Europe countries including the UK, it reaches around 20%. During the projected period, it's anticipated that the US pet insurance market will expand by $2 billion in 2022, marking an annual growth rate of 14%. This is primarily propelled by heightened consumer awareness and the growing disposable income of pet owners. The rise in pet insurance adoption will lead to more frequent veterinary clinic visits, thus promoting the utilization of animal medicine for various disease treatments.
Which Companies Are Leading in the Animal Medicine Market?
Major companies operating in the animal medicine market include Zoetis, Inc., Boehringer Ingelheim GmbH, Merck & Co. Inc., Elanco Animal Health Incorporated, Virbac Group, Ceva Santé Animale, Phibro Animal Health Corporation, China Animal Husbandry Industry Co., Ltd, Vetoquinol S.A., Neogen Corporation, Century Pharmaceuticals Limited, BASF India Ltd., Cargill India Pvt. Ltd., Intervet Australia Pty Ltd, Jurox Pty Ltd, SeQuent scientific ltd, Guangdong Wens Dahuanong Biotechnology Co. Ltd, Shandong Lukang, Bayer Animal Health Cadila Pharmaceuticals Ltd., Novasep, Koninklijke DSM n.v, Novartis AG, Nutreco N.V., Bad Oldesloe, CP-Pharma Handelsgesellschaft mbH, SaluVet GmbH, KRKA UK, Interfeed, Biotex Plus Ltd., Belfarmacom, Cymedica, vet resolution, Vetruus Ltd, Nimrod Veterinary Products Ltd., Bimeda, Animalcare, Medco-ERP Ltd. Holland, Brouwer, IDT Biologika, Vetiquinol S.A, UCBVET, Biowet Pulawy, Esculap, Pasteur Romania, Vector-Vita-LLC, NITA-FARM, Bioveta, Heska, Dechra Veterinary Products, Eli Lilly and Company, IDEXX Laboratories, Agrodan CA, Agrovet Market S.A, Interchem Ltda, Invesbio S.A, Syntec, Sauvet, Vetanco, Chemo Argentina, Saudi Pharmaceutical Industries SPI, Montajat Pharmaceuticals Co. Ltd., ALKE SAGLIK URUNLERI San. ve Tic. A.S., MISTAV Ilac ve Tavukculuk San.Tic.Ltd, DBK Pharma S.A.E., Kahmavet, Lemavet, Abpharma, ASVET, Ekinos - Veterinary Products, Lanrex Pharmaceuticals Nig Ltd, Emzor Pharmaceutical Ltd.
What Are the Major Trends Shaping the Animal Medicine Market?
The animal medicine market is witnessing a rising demand for nanotechnology as an alternative to veterinary antibiotics. Nanotechnology focuses on the manipulation of matter at atomic or molecular levels. In the sector of animal medicine, it serves to advance diagnosis, treatment, promotion of animal growth, and production. Primarily, nanoparticles serve as substitute antimicrobial agents to curb the usage of antibiotics and enhance the detection of disease-causing bacteria. Additionally, they also function as drug delivery entities for novel drugs and potential vaccines, boosting their properties and efficacy, and minimizing drug resistance in animal bodies.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/animal-medicine-global-market-report
What Are the Top Revenue-Generating Geographies in the Animal Medicine Market?
North America was the largest region in the animal medicine market in 2024. Asia-Pacific was the second-largest region in the animal medicine market. The regions covered in the animal medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Animal Medicine Market?
2. What is the CAGR expected in the Animal Medicine Market?
3. What Are the Key Innovations Transforming the Animal Medicine Industry?
4. Which Region Is Leading the Animal Medicine Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Animal Medicine Market Size Projected To Reach $69.05 Billion By 2034 With A Cagr Of 6.1% here
News-ID: 4002724 • Views: …
More Releases from The Business Research Company
Driving Plasma Rocket Propulsion Market Growth in 2025: The Role of Increasing S …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Plasma Rocket Propulsion Market Size Growth Forecast: What to Expect by 2025?
The market size for plasma rocket propulsion has been experiencing significant growth in the past few years. The market size will increase from its 2024 value of $1.42 billion to reach $1.55 billion in 2025, reflecting a…
Comprehensive Paver Blocks Market Forecast 2025-2034: Growth Trends and Strategi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Paver Blocks Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the paver blocks market has experienced consistent growth in the past few years. It is projected to rise from $4.44 billion in 2024 to $4.65 billion in 2025, displaying a compound…
Increasing Defense Budget Fueling The Growth Of The Market Due To Rising Investm …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Orbital Defense Systems Market Through 2025?
In recent times, the market size of the orbital defense system has seen a dramatic upswing. It's projected to escalate from $17.05 billion in 2024 to $18.33 billion in 2025, exhibiting a compound annual growth rate…
2025-2034 Nuclear Missiles And Bombs Market Outlook: Key Drivers, Emerging Chall …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Nuclear Missiles And Bombs Industry Market Size Be by 2025?
The market size for nuclear bombs and missiles has significantly expanded in the past few years. It's forecasted to rise from $8.89 billion in 2024 to $9.34 billion in 2025, reflecting a compound annual growth rate…
More Releases for Animal
Animal Health Market Sets the Table for Continued Growth : Zoetis Animal Healthc …
Advance Market Analytics published a new research publication on "Animal Health Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Animal Health market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled…
Animal Antimicrobials and Antibiotics Market 2023 Growth and Development By Bion …
Antibiotics, also called antibacterials, are a type of antimicrobial drug used in the treatment and prevention of bacterial infections. They may either kill or inhibit the growth of bacteria. Animal Antimicrobials and Antibiotics includes Premixes, Oral Powders, Oral Solutions and Injections on the base of classification, which represent 12.4%, 14.4%, 10.4% and 56.6% of global Animal Antimicrobials and Antibiotics market.
Get Sample Copy: https://www.worldwidemarketreports.com/sample/273708
Farm Animals and Companion Animals are the…
Animal Healthcare Market Analysis Focusing on Top Key Players - Merck, Bayer Ani …
Worldwide Market Reports recently released on the Animal Healthcare market for the forecast period, 2017 – 2022 is involved in screening the business environment and the companies operating in the Animal Healthcare industry. Importantly, the research sheds a lot of light on their winning strategies to help stakeholders, business owners, and field marketing executives stay ahead in the competition. Besides, the industry is thoroughly weighed upon on the basis of…
Animal Model Market trends, Animal Model Market growth, Animal Model Market size …
Key Findings of Animal Model Market
Developing Regions to Overpower Developed Ones With Regard to Demand
The Asian territory is on the verge of evolving as the next big destination for animal models. This growth can be attributed to various factors such as American and European pharmaceutical companies diversifying their research activities to curtail extra expenses and save costs. Although U.S and Europe have retained their legacy in the global market, their…
Animal Growth Promoter Market Outlook To 2023 – Bayer Animal Health, Biomin, B …
Nov 2018, New York USA (News)- Different categories of feed additives for farm animals are referred to as natural growth promoters (NGPs) or non-antibiotic growth promoters. They are commonly regarded as favorable alternatives to antibiotic growth promoters (AGPs) in livestock production. NGPs include predominantly organic acids, probiotics, prebiotics, synbiotics, phytogenics, tannins, feed enzymes and immune stimulants, an ongoing search for alternatives has created a large variety of NGPs for pigs,…
Animal Antimicrobials and Antibiotics Market Key Players : Animal Health, Bayer …
The term antibiotic or antimicrobial is used for those agents who kill or inhibit the growth of microorganism. The antimicrobials products have significant benefits to the animal and to human food safety. There are researches, which have proven that an increase in the rate of animal illness results in higher rate of human illness. Therefore, livestock dealers depend on animal antibiotics to provide safe food. The scope of this report…
