The veterinary drug market is expected to grow at a CAGR of around 5.5% during the forecast period 2020-2026. The veterinary drug is used to prevent and/or treat diseases in the animals including companion animals, livestock and other animals. Rising trend for pets as a companion, increases the possibility of zoonotic diseases (disease passing from animals & insect to people), and rising meat and dairy consumption are the key factors for the growth of the market across the globe.
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High adoption of pet animals is one of the major factor boosting the market. As per 2019-20, American Pet Products Association survey, 67% of the US household owns a pet as compared to 56% in 1988. Moreover, the total number of households in the US with pets has increased from around 90 million in 1988 to 130 million in 2019. Moreover, around $95.7 billion were spent on pets in 2019 in the US out of which $36.9 billion goes to pet food and treats and $19.2 billion goes to supplies, live animals, and OTC medicines. Growth in animal insurance is another major factor for the growth of the market. As per the North American Pet Health Insurance Association (NAPHIA), around 2.43 million pets were insured in North America in 2018 with an increase of 17% YoY.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Veterinary Drug Market by Animal
- Livestock
- Poultry
- Swine
- Cattle
- Aquatic
- Others (Sheep)
- Companion
- Other
Global Veterinary Drug Market by Type
- Anti-Parasitic
- Anti-inflammatory
- Anti-infective
- Others
Global Veterinary Drug Market by Route of Administration
- Oral
- Topical
- Injection
- Other
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Akorn Animal Health, Inc.
- Bayer AG
- Bimeda Holdings PLC
- Biogenesis Bago A.S.
- BOEHRINGER Ingelheim International GmbH
- Ceva Santé Animale
- Dechra Pharmaceuticals PLC
- Elanco Animal Health Inc.
- Hipra S.A.
- Huvepharma EOOD
- Hygieia Biological Laboratories
- Intervet International B.V
- Merck & Co., Inc.
- Neogen Corp.
- Pharmgate LLC
- Phibro Animal Health Corp.
- Vetoquinol S.A.
- Virbac S.A.
- Zoetis, Inc.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Veterinary drug market.
- Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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