The global veterinary drug market is anticipated to grow at a significant CAGR during the forecast period. The major factors that are expected to accelerate the growth of the market during the forecast period include the increasing burden of chronic diseases among animals, the growing adoption of pets, and the increase in drug preferences by pet and poultry farm owners, coupled with increased demand for meat and animal-based products. As per the Centers for Disease Control and Prevention (CDC), zoonotic diseases are very common, both in the US and around the world. It is estimated that more than 6 out of every 10 known infectious diseases in people can be spread from animals, and over 3 out of every 4 new or emerging infectious diseases in people come from animals. Moreover, increasing meat consumption is another major factor that is propelling the growth of the market during the forecast period.
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Veterinary drugs are used by veterinary professionals to treat diseases, injuries and support the growth of animals. These are majorly used to cure diseases and prevent the spread of infectious diseases among animals. These drugs indirectly benefit human healthcare by restricting the spread of infectious diseases from animals to humans. Moreover, increasing R&D investments, high pet adoption rate, and growing consumption of meats and mandatory vaccination for the animals are anticipated to boost demand for veterinary drugs for animals in the near future.
Recent Development
- In October 2019, Ceva entered into an agreement with ProBioGen AG for manufacturing vectorized poultry vaccines using ProBioGen’s proprietary AGE1.CR technology. This agreement has led both companies to expand their long-term partnership and long track record of developing innovative vaccines.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Product Type
o By Route of Administration
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Zoetis Inc., Virbac S.A., and Elanco Animal Health Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Veterinary Drug Market Report by Segment
By Product Type
- Anti-infectives
- Anti-Inflammatory
- Parasiticides
- Vaccines
- Others
By Route of Administration
- Oral
- Parenteral
- Topical
A full report of Veterinary Drug Market is available at: https://www.omrglobal.com/industry-reports/veterinary-drug-market-overview
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
- Zoetis Inc.
- Virbac S.A.
- Elanco Animal Health Inc.
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