Evolve Business Intelligence has published a new research report on the Global Veterinary Medicine Market, 2023–2033. The global Veterinary Medicine market is projected to exhibit a CAGR of around 5.9% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has identified the following companies as the key players in the global Veterinary Medicine Market: Archer Daniels Midland, Boehringer Ingelheim International GmbH, Ceva Santé Animale, Dechra Pharmaceuticals PLC., Elanco Animal Health Incorporated, Evonik Industries AG (RAG Stiftung), Merck & Co., Inc., Soparfin SCA., Virbac SA, and Zoetis Inc.
For More Information: https://evolvebi.com/product/veterinary-medicine-market-analysis-and-global-forecast-2023-2033-with-covid-impact-analysis/
Market Highlights
The global Veterinary Medicine market is projected to be valued at USD 46.41 Billion by 2033, recording a CAGR of around 5.9% during the forecast period. The veterinary medicine market refers to the market for pharmaceuticals, vaccines, and medical devices that are used to treat, diagnose, and prevent diseases in animals. This market includes products for companion animals such as dogs and cats, as well as livestock animals such as cattle, pigs, and poultry. The COVID-19 pandemic has had a significant impact on the veterinary medicine market. With the pandemic, there has been an increased focus on animal health, particularly concerning zoonotic diseases that can be transmitted from animals to humans. This has led to increased demand for animal health products, including vaccines and other preventive measures. At the same time, the pandemic has also affected the supply chain for veterinary medicines, particularly in regions that rely heavily on imports. The disruption of global trade and transportation has led to shortages of certain animal health products and increased costs for others.
Segmental Analysis
The global Veterinary Medicine market has been segmented based on Product, Route of Administration, Animal Type, Distribution Channel, and Region.
Based on the Product, the Veterinary Medicine market is segmented based on Drugs, Vaccines, and Medicated Feed Additives. The drugs segment is expected to hold the largest share market during the forecast period.
Based on the Route of Administration, the global Veterinary Medicine market has been divided into Oral Route, Parenteral Route, and Topical Route. The oral route segment is expected to hold the largest share of the market during the forecast period.
Based on Animal Type, the global Veterinary Medicine market has been divided into Companion Animals and Livestock Animals. The companion animals segment is expected to hold the largest share during the forecast period.
Based on Distribution Channel, the global Veterinary Medicine market has been divided into Veterinary Hospitals Pharmacies and Retail Veterinary Pharmacies. The veterinary hospital segment is expected to hold the largest share during the forecast period.
For More Information: https://evolvebi.com/product/veterinary-medicine-market-analysis-and-global-forecast-2023-2033-with-covid-impact-analysis/
Regional Analysis
The Veterinary Medicine market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America region, the driver for the Veterinary Medicine market may be the increasing pet ownership rate and the availability of advanced animal health products, such as vaccines and drugs. The growing trend of humanizing pets and the increasing awareness of pet health and wellness are also contributing to the growth of the veterinary medicine market in North America. In addition, there has been a shift towards preventive healthcare for pets, which has led to an increased demand for preventive products such as vaccines and parasiticides. The growing prevalence of diseases such as obesity, diabetes, and cancer in pets has also led to increased demand for diagnostic and therapeutic products.