Veterinary Drugs, Vaccination, and Consumables are required for maintenance of hygiene and safety of farm animals. Pharmaceutical companies are focusing on the development of the drugs for farm animal health care in last decade due to increasing incidences of animal diseases. The farm animal drugs r market has become even more important because of the growing demand for livestock products. Over the last couple of decades, the awareness among the people about animal health especially for farm animals backed by compelling scientific evidence linking animal health with human food safety and public health has propelled the growth of this market.
Farm Animal DrugsMarket: Drivers and Restraints
The increased population worldwide has risen the demand for animals for foods especially in developing countries is a major driving factor for the growth of farm animals drugs markets. This scenario increases the emphasis on wellness and prevention of farm animals. This risen the demand medication of farms animals which will be ultimately responsible for the growth of farm animal drugs market. Leading companies of veterinary services are currently focusing on manufacturing of generic drugs which will again boost the growth of farms drugs market. The increased incidences of parasitic diseases is also a minor factor driving the growth of farm animal drugs market. Low returns on investment in the past few years for veterinary medication has led to aging product portfolio which can restrain the growth of farm animal drugs market.
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Farm Animal DrugsMarket: Segmentation
The global farm animal drugs market is classified on the basis of, drug type, distribution channel, and region.
Based on drug type, the global farm animal drugs market is segmented into the following:
Based on end user, the global farm animal drugs market is segmented into the following:
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Research Institutes
Based on distribution channel, the global farm animal drugs market is segmented into following:
- Veterinary Pharmacies
- Online Pharmacies
Based on region, the global farm animal drugs market is segmented into the following:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia-Pacific excluding Japan
- Middle East and Africa
Farm Animal DrugsMarket: Overview
Farm animal drugs market is expected to show dramatic growth over the forecast period. In last decade few veterinary care products such as drugs, vaccine, and feed additive have shown increased demand in the market. Acquisition of local players by leading pharmaceutical companies is the opportunity for growth of farm animal drugs market. Generic drugs are expected to dominate the over branded drugs for farm animal drugs market. Antibiotic is expected to have maximum market share among all the drugs used for the farm animal. Among the end user segment, veterinary hospital will dominate the market of farm animal drugs.
Farm Animal DrugsMarket: Regional Overview
Geographically, the market is segmented into seven regions namely North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, and the Middle East & Africa (MEA). North America is dominating the market share by region for farm animal drug market. Europe second most dominating region for farm animal drugs market. Europe and North America together expected to have more than 60% share of the market which will grow over the forecast period. Major growth is expected from Asia-Pacific and the Middle East and Africa region. In Asia-Pacific region, India and China are expected to show potential growth for farm animal drugs markets over the forecast period.
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Farm Animal DrugsMarket: Key Players
Some of the players of farm animal drug market are Bayer HealthCare AG, Boehringer Ingelheim GmbH, Ceva Santé Animale, Dechra Pharmaceuticals PLC, Eli Lilly and Company, Merck Animal Health, Sanofi, Vetoquinol S.A., Zoetis, Inc.