Veterinary Therapeutics Market to Exhibit 5.8% CAGR Driven by Rising Demand for Meat Products

In 2017, the global market for veterinary therapeutics was valued at US$ 35,005.2 Mn and is projected to reach a value of US$ 54,968.3 Mn by 2025. Furthermore, the report predicts the global market to expand at a CAGR of 5.8% during the forecast period.

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The Veterinary Therapeutics Market is projected to grow at a significant rate on account of rising demand for meat and meat products. Fortune Business Insights in its new report, titled “Veterinary Therapeutics Market Size, Share and Global Trend by Product Type (Drugs, Vaccines), Animal Type (Companion, Livestock), Route of Administration (Oral, Parenteral, Topical), Distribution Channels (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores) and Geography Forecast till 2025” finds that the growing population across the world is positively impacting the veterinary therapeutics market.

In addition to this, fast approval on new products is also driving the therapeutic drugs segment. However, increasing number of restrictions on the use of antibiotics may offset the segment’s growth. Vaccines are also projected to gain popularity among other veterinary therapeutic products in the upcoming years. The rising need for treating diseases in animals is the major factor driving this segment. Among regions, North America is expected to lead the global veterinary therapeutics market.

Segmentation:

By Animal Type

  • Companion
  • Livestock

By Product Type

  • Medicated Feed Additives
  • Drugs
  • Vaccine

By Distribution Channels

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies and Drug Stores

By Route of Administration

  • Oral
  • Parenteral
  • Topical

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The region market was valued at US$ 11,124.6 Mn in the year 2017. The increasing adoption of veterinary products in this region is likely to create ample growth opportunities for the veterinary therapeutics market until 2025. Besides North America, Asia Pacific is anticipated to show considerable growth in response to growing demand for of vaccines and drugs in the region. Rising livestock population in countries such as China and India will drive the veterinary therapeutics and medicine in Asia Pacific.

Some of the Main Key Players Covered in the Report:

  • Merck Animal Health
  • Zoetis Inc.
  • Elanco
  • Merial
  • Bayer Pharmaceuticals
  • Bayer
  • Boehringer Ingelheim
  • CEVA LogisticsVetoquinol S.A.
  • IDEXX
  • Virbac

Focus on Expanding Product Portfolio May Offer Promising Growth Opportunities

Some of the leading players operational in the global market for veterinary therapeutics are Zoetis, Intervet Inc., Vetoquinol S.A., Elanco, Merial, IDEXX Laboratories, Inc., Bayer AG, Boehringer Ingelheim International GmbH, Virbac, and Ceva. In 2017, Zoetis was the leading player in the global market with the presence of strong product portfolio. One of the chief strategies adopted by companies is strengthening their product portfolio by introducing new products. This is projected to generate huge growth opportunities for the global veterinary therapeutics market during the forecast period between 2017 and 2025.

Table of Content:

1.Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

2.Executive Summary

3.Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

4.Key Insights

4.1 Pipeline Analysis

4.2 Regulatory Scenario for Key Countries

4.3 Pricing Analysis

4.4 Key Industry Developments

4.5 Overview of Animal Diseases by Key Countries

4.6 Snapshot on the Novel and Upcoming Therapies

4.7 Overview of Treatment Plans for Different Animal Diseases

4.8 Overview of Incidence and Prevalence of Animal Diseases

Increasing Access to Treatment for Companion Animals to Propel the Market

“The increasing research and development (RandD) activities in the veterinary therapeutics area will create ample opportunities for the market’s growth,” stated a lead analyst at Fortune Business Insights. “This has further resulted in the discovery of novel treatment and surgical capabilities for companion animals, which will positively impact the market’s growth,” he added. Also, the rising population across the world, combined with rising demand for food, will act as a chief growth driver of the global veterinary therapeutics market.

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