Rising Disease Prevalence Among Animals Fuels Growth In The Veterinary Pharmaceuticals Market: Strengthening the Growth Trajectory of the Veterinary Pharmaceuticals Market

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What Is the Expected CAGR for the Veterinary Pharmaceuticals Market Through 2025?
The size of the veterinary pharmaceuticals market has seen significant growth in recent years. The market is projected to expand from $32.9 billion in 2024 to $34.92 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. This growth in the previous period has been influenced by factors such as a rise in pet ownership, increased personal expenditure on pets, increased usage of online pharmacies via e-commerce platforms, growth in emerging markets, heightened government initiatives and a surge in disease incidence.

What's the Projected Size of the Global Veterinary Pharmaceuticals Market by 2029?
The value of the veterinary pharmaceuticals market is expected to expand significantly in the coming years. The market's predicted value is $44.14 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. The surge in the forecast period is primarily due to increasing pet ownership, rising population size, escalating disposable income, burgeoning urbanization, improving pet insurance penetration, and increasing government support. Major trends that are anticipated to shape the market during the forecast period encompass increasing interest in stem cell therapy for animal treatments, applying nanotechnology in veterinary medicines to counteract antibiotic resistance, development of chewable tablets, reducing COVID-19's impact through telemedicine platforms, advancement in vaccine development, attention on super-combo parasiticides, usage of subunit and virus-like particle (VLP)-based vaccines, and a focus on strategic alliances and cooperation.

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Top Growth Drivers in the Veterinary Pharmaceuticals Industry: What's Accelerating the Market?
One of the primary factors fueling the growth of the veterinary pharmaceuticals market is the surging prevalence of diseases among animals. An upsurge in disease incidents in livestock and pet animals necessitates the use of medication to treat these animals. For instance, the Banfield State of Pet Health Report notes a significant rise in diabetes in dogs, with an uptick of 79.7% from 13.1 to 23.6 cases per 10,000. Moreover, the prevalence rate in cats has also escalated by 18%. This rising prevalence of diseases among animals translates to an increased demand in the veterinary pharmaceuticals market.

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What Trends Will Shape the Veterinary Pharmaceuticals Market Through 2029 and Beyond?
The veterinary pharmaceuticals market is witnessing a new trend in the form of growing acceptance of generic drugs for animal healthcare. Generic drugs, with their cost-effectiveness, are making it easier for pet owners to look after their pets. The FDA has paved the way for this shift by approving 22 generic medications for cats and dogs. As a result, they are being increasingly used by veterinarians. A poll carried out by Brakke and Trone Brand Energy Inc. involving 520 veterinarians revealed that about 80% of them use generic drugs to help save pet owners money. However, it's worth noting that generic drug manufacturers offer smaller profit margins relative to the significant margins provided by branded drugs, which veterinarians need to delve into.

What Are the Main Segments in the Veterinary Pharmaceuticals Market?
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

Subsegments:
1) By Veterinary Vaccines: Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, DNA Vaccines, Subunit Vaccines
2) By Veterinary Antibiotics: Penicillins, Cephalosporins, Tetracyclines, Fluoroquinolones, Macrolides
3) By Veterinary Parasiticides: Endoparasiticides, Ectoparasiticides, Endectocides, Antiprotozoals
4) By Other Veterinary Pharmaceuticals: Anti-inflammatory Drugs, Analgesics, Hormonal Medications, Antifungals

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Which Top Companies are Driving Growth in the Veterinary Pharmaceuticals Market?
Major companies operating in the veterinary pharmaceuticals market include 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, 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, Swetrade Pharmaceuticals AB, Animalcare, VET-AGRO Sp. z o. o, CANPOLAND SA, Cymedica, VIC Group, NITA-FARM, Apicenna LLC, Delos Medica, Provet Group, Bioveta AS, Veterinarski Zavod Subotica, PharmaGal s.r.o., Trifecta Pharmaceuticals USA LLC., Alberta Veterinary Laboratories Ltd., Veterinary Purchasing Co. Ltd , 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, Saudi Pharmaceutical Industries, DBK Pharma S.A.E., Dawa Limited, Neimeth International Pharmaceuticals, Osy-Adamu Pharmaceutical Co., Global Vet (U) Ltd

Which Regions Will Dominate the Veterinary Pharmaceuticals Market Through 2029?
North America was the largest region in the veterinary pharmaceuticals market in 2024. Asia-Pacific was the second-largest region in the global veterinary pharmaceuticals market report. The regions covered in the veterinary pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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