The global 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 & Drug Stores) and Geography Forecast till 2025” finds that the growing population across the world is positively impacting the veterinary therapeutics market. 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.
Veterinary therapeutic drugs are expected to emerge dominant in the global veterinary therapeutics market by 2025. The segment covered a share of 51.1% in the year 2017 in the global market. This is ascribable to the rising use of therapeutic drugs on pets and growing awareness about animal health. In addition to this, fast approval on new products is also driving the therapeutic drugs segment.
Highlights of the Report:
- In-depth analysis of various insights, namely, Veterinary Therapeutics Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Veterinary Therapeutics Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Veterinary Therapeutics Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Intervet Inc.
- Vetoquinol S.A.
- IDEXX Laboratories, Inc.
- Bayer AG
- Boehringer Ingelheim International GmbH
Increasing Access to Treatment for Companion Animals to Propel the Market
“The increasing research and development (R&D) 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. In addition to this, the rising demand for veterinary therapeutics treatment is an outcome of the growing preference among consumers for livestock, dairy products, and meat products.
This is further encouraging companies to introduce novel veterinary therapeutics. Pet ownership is increasing in developing and developed countries, paving way for the entry of veterinary therapeutics and pharmacology. Moreover, there is a rising demand for high quality meat protein especially in developing countries. This factors are likely to increasing the demand for dairy and meat products. The use of veterinary therapeutic services and medication is increasing with the rising emphasis on prevention of diseases among animals and ensure their wellness of animals by veterinarians. Overall, the above factors, coupled with the rising awareness about veterinary healthcare, are encouraging the growth of the veterinary therapeutics market.
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Strict Government Rules May Restrict the Market
Certain factors may hamper the growth of the veterinary therapeutics market. The chief factor likely to restrict the market’s growth is implementation of stringent government regulations. In addition to this, minimum returns on research and development activities associated with veterinary therapeutic drug monitoring may impede the growth of the veterinary therapeutics market.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Pipeline Analysis
- Regulatory Scenario for Key Countries
- Pricing Analysis
- Key Industry Developments
- Overview of Animal Diseases by Key Countries
- Snapshot on the Novel & Upcoming Therapies
- Overview of Treatment Plans for Different Animal Diseases
- Overview of Incidence & Prevalence of Animal Diseases
- Global Veterinary Therapeutics Market Analysis, Insights and Forecast, 2014-2025
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Feed Additives
- Market Analysis, Insights and Forecast – By Animal Type
- Market Analysis, Insights and Forecast – By Route of Administration
- Market Analysis, Insights and Forecast – By Distribution Channels
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies & Drug Stores
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Veterinary Therapeutics Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Veterinary Therapeutics Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
- Users Also Search For- veterinary pharmacology and therapeutics, journal of veterinary pharmacology and therapeutics
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Veterinary Therapeutics Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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