The United States veterinary drug market is expected to grow at a significant CAGR during the forecast period. Veterinary drugs are drugs that are used to treat a variety of disorders that affect animals. Antibiotics, antimicrobials, antihistamines, antiprotozoals, and hormones are among the veterinary drugs produced to protect animals from hazardous viral and bacterial parasites.
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According to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 67.0% of the US household that accounts for 85 million families living in the US, owned at least a pet. There were 84.9 million households with pets which is 67% of the total households registered under the survey. The growth of the veterinary market is significantly dependent on the adoption of pets in US households. As the adoption of pets increases, the demand for drugs and vaccination services is also expected to rise, thereby, creating opportunities for the growth of the veterinary drug market in the US.
Veterinary care has a lot to do with species such as dogs and cats. Additionally, dogs and cats are two of the most commonly owned pets of the US household. According to American Veterinary Medical Association (AVMA), 54.3% of cat-owning households and 82.8% of dog-owning households visit the veterinarian at least once a year. Moreover, the total spending on veterinary care & product sales in the US is expected to be nearly around $3.4 million in 2020. This highlights the fact, that the population in the US is aware of pet health and the necessary measures that are required to be taken to improve their health. The overall spending of the US pet industry has also increased significantly in the past years. According to APPA, in 2019, around $95.7 billion was spent on pets in the US, out of which vet care & product sales were accounted for around $29.3 billion. This is expected to create significant opportunities for the growth of the market in the US in the future.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Bayer AG, Zoetis Inc., and Virbac S.A., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
United States Veterinary Drug Market Report by Segment
By Product
- Anti-Infectives
- Anti-Inflammatory
- Parasiticides
- Vaccines
- Others
By Animal Type
- Chicken
- Swine
- Cattle
- Others
A full report of US Veterinary Drug Market is available at: https://www.omrglobal.com/industry-reports/us-veterinary-drug-market
US Veterinary Drug Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Bayer AG
- Zoetis Inc.
- Virbac S.A.
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