Veterinary Medicine Market was Values at USD 22,973 million in 2019 and is Expected to Reach USD 29,698 million by 2027, Growing at a CAGR of 4.6% from 2020 to 2027
Market Introduction:
The global veterinary medicine market held a market value of USD 22,973 million in 2019 and is anticipated to reach USD 29,698 million by 2027 growing at a CAGR of 4.6% during the forecast period of 2020-2027.
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Veterinary medicine is a branch of medical science which deals with prevention, control, diagnosis, and treatment of diseases which affect domestic as well as wild animals.
The market is continuously growing owing to the factors such as rising number of pet adoptions, increasing prevalence of veterinary diseases, and growing adoption of pet insurance. According to a statistics published by the American Society for the Prevention of Cruelty to Animals, near about 6.5 million companion animals are adopted by animal shelters every year in the U.S. Furthermore, rising awareness regarding animal health is also driving the market growth.
However, lack of awareness and risks associated with the devices are expected to restrain the market growth.
Segmentation:
The global veterinary medicine market has been segmented into product, route of administration, animal type, and distribution channel.
On the basis of product, the global veterinary medicine market is divided into drugs, vaccines, and medicated feed additives. The drugs segment is further divided into anti-infective, anti-inflammatory, and parasiticide. The vaccines segment is sub-segmented into inactivated vaccines, attenuated vaccines, and recombinant vaccines. The medicated feed additives segment is further divided into amino acids and antibiotics. The drugs segment is expected to account for the largest market share owing to the high number of veterinary drugs available in the market and rising number of R&D activities for veterinary drugs. The drugs segment is anticipated to garner the largest market share owing to developments by major players and increasing prevalence of veterinary diseases. For instance, in August 2020, Elanco acquired Bayer AG’s animal health division. With this acquisition, Elanco expanded its veterinary medicines product portfolio.
Based upon the route of administration, the market is segmented into oral route, parenteral route, and topical route. Oral route is expected to account for the largest market share owing to its high usage for the treatment of animals.
By animal type, the market is classified into companion animals and livestock animals. Growing research & development in the field of livestock animals is expected to contribute to the high market growth.
By distribution channel, the veterinary medicine market is segmented into veterinary hospital pharmacies and retail veterinary pharmacies. The veterinary hospital pharmacies segment is expected to account for the largest market share as veterinary hospitals are first point of care for veterinary disease treatments.
Regional Analysis:
By region, the global veterinary medicine market is segmented into the North America, Europe, Asia-Pacific, and LAMEA.
North America consists of countries such as the US, Canada, and Mexico. North America accounted for the largest market share owing to high meat consumption and favorable government policies in the region. According to a data published by the North American Meat Institute (NAMI), as of 2017, the US meat industry fed 326 million Americans.
Europe is further segmented into Germany, France, UK, Italy, Spain, and Rest of the Europe. The Europe market is the second largest region segment owing to favorable government policies for animals.
Asia-Pacific region is divided into Japan, China, India, Australia, South Korea, and Rest of the Asia-Pacific. The market in Asia Pacific is expected to witness the fastest growth owing to the increasing awareness regarding pet insurance and rising meat production. According to a data published by the Indian Institute of Insurance (III), number of pets insured reached 2.43 million by 2018, which was an increase of more than 17% from 2017.
The market in the LAMEA region is classified into Brazil, Saudi Arabia, South Africa, and others. The region is expected to register slow growth owing to low awareness in regions such as Middle East and Africa.
Competitive Landscape:
Key market players covered in the report include Zoetis, Inc. (US), Merck & Co., Inc. (US), Intervet International B.V. (Netherlands), Elanco Animal Health (US), Dechra Pharmaceuticals PLC (UK), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Boehringer Ingelheim International GmbH (Germany), ADM Animal Nutrition (US), and Evonik Industries AG (Germany), among others. These companies are involved in many strategic activities to grow in the global veterinary medicine market. For instance, in January 2020, Zoetis launched Poulvac Procerta HVT-ND vaccine against Newcastle and Marek’s disease. With this, the company expanded its product portfolio for poultry medicines.
Key Topics Covered
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key market segments
1.2.1.List of key players profiled in the report
1.3.Research methodology
1.3.1.Primary research
1.3.2.Secondary research
1.3.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Top player positioning
3.2.1.Top investment pockets
3.3.Key forces shaping veterinary medicines industry/market
3.4.Market dynamics
3.4.1.Drivers
3.4.1.1.Surge in ownership of companion animals
3.4.1.2.Rise in livestock population across the globe
3.4.1.3.Rise in animal healthcare expenditure
3.4.1.4.Surge in prevalence of various medical conditions in animals
3.4.2.Restraint
3.4.2.1.Stringent regulatory approvals related to veterinary drugs and vaccines
3.4.2.2.Lack of veterinary infrastructure facilities in underdeveloped nations
3.4.3.Opportunity
3.4.3.1.Surge in awareness related to animal healthcare
3.4.4.Impact Analyses
3.5.Covid-19 impact analysis on global veterinary medicine market
CHAPTER 4:VETERINARY MEDICINE MARKET, BY PRODUCT
4.1.Overview
4.1.1.Market size and forecast
4.2.Drugs
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by type
4.2.2.1.Anti-infective
4.2.2.1.1.Market size and forecast
4.2.2.2.Anti-inflammatory
4.2.2.2.1.Market size and forecast
4.2.2.3.Parasiticide
4.2.2.3.1.Market size and forecast
4.2.3.Market size and forecast, by region
4.2.4.Market analysis, by country
4.3.Vaccines
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by type
4.3.2.1.Inactivated Vaccines
4.3.2.1.1.Market size and forecast
4.3.2.2.Attenuated Vaccines
4.3.2.2.1.Market size and forecast
4.3.2.3.Recombinant Vaccines
4.3.2.3.1.Market size and forecast
4.3.3.Market size and forecast, by region
4.3.4.Market analysis, by country
4.4.Medicated feed additives
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by type
4.4.2.1.Amino Acids
4.4.2.1.1.Market size and forecast
4.4.2.2.Antibiotics
4.4.2.2.1.Market size and forecast
4.4.3.Market size and forecast, by region
4.4.4.Market analysis, by country
CHAPTER 5:VETERINARY MEDICINE MARKET, BY ROUTE OF ADMINSTRATION
5.1.Overview
5.1.1.Market size and forecast
5.2.Oral route
5.2.1.Market size and forecast, by region
5.2.2.Market analysis by country
5.3.Parenteral route
5.3.1.Market size and forecast, by region
5.3.2.Market analysis by country
5.4.Topical route
5.4.1.Market size and forecast, by region
5.4.2.Market analysis by country
CHAPTER 6:VETERINARY MEDICINE MARKET, BY ANIMAL TYPE
6.1.Overview
6.1.1.Market size and forecast
6.2.Companion animal
6.2.1.Market size and forecast, by region
6.2.2.Market analysis, by country
6.3.Livestock animals
6.3.1.Market size and forecast, by region
6.3.2.Market analysis, by country
CHAPTER 7:VETERINARY MEDICINE MARKET, BY DISTRIBUTION CHANNEL
7.1.Overview
7.1.1.Market size and forecast
7.2.Veterinary hospital pharmacies
7.2.1.Market size and forecast, by region
7.2.2.Market analysis, by country
7.3.Retail veterinary pharmacies
7.3.1.Market size and forecast, by region
7.3.2.Market analysis, by country
CHAPTER 8:VETERINARY MEDICINE MARKET, BY REGION
8.1.Overview
8.1.1.Market size and forecast
8.2.North America
8.2.1.Key market trends and opportunities
8.2.2.Market analysis, by country
8.2.2.1.U.S.
8.2.2.1.1.U.S. market size and forecast, by product
8.2.2.1.2.U.S. market size and forecast, by route of administration
8.2.2.1.3.U.S. market size and forecast, by animal type
8.2.2.1.4.U.S. market size and forecast, by distribution channel
8.2.2.2.Canada
8.2.2.2.1.Canada market size and forecast, by product
8.2.2.2.2.Canada market size and forecast, by route of administration
8.2.2.2.3.Canada market size and forecast, by animal type
8.2.2.2.4.Canada market size and forecast, by distribution channel
8.2.2.3.Mexico
8.2.2.3.1.Mexico market size and forecast, by product
8.2.2.3.2.Mexico market size and forecast, by route of administration
8.2.2.3.3.Mexico market size and forecast, by animal type
8.2.2.3.4.Mexico market size and forecast, by distribution channel
8.2.3.North America market size and forecast, by product
8.2.4.North America market size and forecast, by route of administration
8.2.5.North America market size and forecast, by animal type
8.2.6.North America market size and forecast, by distribution channel
8.3.Europe
8.3.1.Key market trends and opportunities
8.3.2.Market analysis, by country
8.3.2.1.Germany
8.3.2.1.1.Germany market size and forecast, by product
8.3.2.1.2.Germany market size and forecast, by route of administration
8.3.2.1.3.Germany market size and forecast, by animal type
8.3.2.1.4.Germany market size and forecast, by distribution channel
8.3.2.2.France
8.3.2.2.1.France market size and forecast, by product
8.3.2.2.2.France market size and forecast, by route of administration
8.3.2.2.3.France market size and forecast, by animal type
8.3.2.2.4.France market size and forecast, by distribution channel
8.3.2.3.UK
8.3.2.3.1.UK market size and forecast, by product
8.3.2.3.2.UK market size and forecast, by route of administration
8.3.2.3.3.UK market size and forecast, by animal type
8.3.2.3.4.UK market size and forecast, by distribution channel
8.3.2.4.Italy
8.3.2.4.1.Italy market size and forecast, by product
8.3.2.4.2.Italy market size and forecast, by route of administration
8.3.2.4.3.Italy market size and forecast, by animal type
8.3.2.4.4.Italy market size and forecast, by distribution channel
8.3.2.5.Spain
8.3.2.5.1.Spain market size and forecast, by product
8.3.2.5.2.Spain market size and forecast, by route of administration
8.3.2.5.3.Spain market size and forecast, by animal type
8.3.2.5.4.Spain market size and forecast, by distribution channel
8.3.2.6.Rest of Europe
8.3.2.6.1.Rest of Europe market size and forecast, by product
8.3.2.6.2.Rest of Europe market size and forecast, by route of administration
8.3.2.6.3.Rest of Europe market size and forecast, by animal type
8.3.2.6.4.Rest of Europe market size and forecast, by distribution channel
8.3.3.Europe market size and forecast, by product
8.3.4.Europe market size and forecast, by route of administration
8.3.5.Europe market size and forecast, by animal type
8.3.6.Europe market size and forecast, by distribution channel
8.4.Asia-Pacific
8.4.1.Key market trends and opportunities
8.4.2.Market analysis, by country
8.4.2.1.Japan
8.4.2.1.1.Japan market size and forecast, by product
8.4.2.1.2.Japan market size and forecast, by route of administration
8.4.2.1.3.Japan market size and forecast, by animal type
8.4.2.1.4.Japan market size and forecast, by distribution channel
8.4.2.2.China
8.4.2.2.1.China market size and forecast, by product
8.4.2.2.2.China market size and forecast, by route of administration
8.4.2.2.3.China market size and forecast, by animal type
8.4.2.2.4.China market size and forecast, by distribution channel
8.4.2.3.Australia
8.4.2.3.1.Australia market size and forecast, by product
8.4.2.3.2.Australia market size and forecast, by route of administration
8.4.2.3.3.Australia market size and forecast, by animal type
8.4.2.3.4.Australia market size and forecast, by distribution channel
8.4.2.4.India
8.4.2.4.1.India market size and forecast, by product
8.4.2.4.2.India market size and forecast, by route of administration
8.4.2.4.3.India market size and forecast, by animal type
8.4.2.4.4.India market size and forecast, by distribution channel
8.4.2.5.South Korea
8.4.2.5.1.South Korea market size and forecast, by product
8.4.2.5.2.South Korea market size and forecast, by route of administration
8.4.2.5.3.South Korea market size and forecast, by animal type
8.4.2.5.4.South Korea market size and forecast, by distribution channel
8.4.2.6.Rest of Asia-Pacific
8.4.2.6.1.Rest of Asia-Pacific market size and forecast, by product
8.4.2.6.2.Rest of Asia-Pacific market size and forecast, by route of administration
8.4.2.6.3.Rest of Asia-Pacific market size and forecast, by animal type
8.4.2.6.4.Rest of Asia-Pacific market size and forecast, by distribution channel
8.4.3.Asia-Pacific market size and forecast, by product
8.4.4.Asia-Pacific market size and forecast, by route of administration
8.4.5.Asia-Pacific market size and forecast, by animal type
8.4.6.Asia-Pacific market size and forecast, by distribution channel
8.5.LAMEA
8.5.1.Key market trends and opportunities
8.5.2.Market analysis, by country
8.5.2.1.Brazil
8.5.2.1.1.Brazil market size and forecast, by product
8.5.2.1.2.Brazil market size and forecast, by route of administration
8.5.2.1.3.Brazil market size and forecast, by animal type
8.5.2.1.4.Brazil market size and forecast, by distribution channel
8.5.2.2.Saudi Arabia
8.5.2.2.1.Saudi Arabia market size and forecast, by product
8.5.2.2.2.Saudi Arabia market size and forecast, by route of administration
8.5.2.2.3.Saudi Arabia market size and forecast, by animal type
8.5.2.2.4.Saudi Arabia market size and forecast, by distribution channel
8.5.2.3.South Africa
8.5.2.3.1.South Africa market size and forecast, by product
8.5.2.3.2.South Africa market size and forecast, by route of administration
8.5.2.3.3.South Africa market size and forecast, by animal type
8.5.2.3.4.South Africa market size and forecast, by distribution channel
8.5.2.4.Rest of LAMEA
8.5.2.4.1.Rest of LAMEA market size and forecast, by product
8.5.2.4.2.Rest of LAMEA market size and forecast, by route of administration
8.5.2.4.3.Rest of LAMEA market size and forecast, by animal type
8.5.2.4.4.Rest of LAMEA market size and forecast, by distribution channel
8.5.3.LAMEA market size and forecast, by product
8.5.4.LAMEA market size and forecast, by route of administration
8.5.5.LAMEA market size and forecast, by animal type
8.5.6.LAMEA market size and forecast, by distribution channel
CHAPTER 9:COMPANY PROFILES
9.1.Archer Daniels Midland
9.1.1.Company overview
9.1.2.Company snapshot
9.1.3.Operating business segments
9.1.4.Product portfolio
9.1.5.Business performance
9.2.Boehringer Ingelheim International GmbH
9.2.1.Company overview
9.2.2.Company snapshot
9.2.3.Operating business segments
9.2.4.Product portfolio
9.2.5.Business performance
9.3.Ceva Sant Animale
9.3.1.Company overview
9.3.2.Company snapshot
9.3.3.Operating business segments
9.3.4.Product portfolio
9.4.Dechra Pharmaceuticals PLC.
9.4.1.Company overview
9.4.2.Company snapshot
9.4.3.Operating business segments
9.4.4.Product portfolio
9.4.5.Business performance
9.5.Elanco Animal Health Incorporated.
9.5.1.Company overview
9.5.2.Company snapshot
9.5.3.Operating business segments
9.5.4.Product portfolio
9.5.5.Business performance.
9.5.6.Key strategic moves and developments
9.6.Evonik Industries AG (RAG Stiftung)
9.6.1.Company overview
9.6.2.Company snapshot
9.6.3.Operating business segments
9.6.4.Product portfolio
9.6.5.Business performance
9.6.6.Key strategic moves and developments
9.7.Merck & Co., Inc.
9.7.1.Company overview
9.7.2.Company snapshot
9.7.3.Operating business segments
9.7.4.Product portfolio
9.7.5.Business performance
9.7.6.Key strategic moves and developments
9.8.Soparfin SCA.
9.8.1.Company overview
9.8.2.Company snapshot
9.8.3.Operating business segments
9.8.4.Product portfolio
9.8.5.Key strategic moves and developments
9.9.Virbac SA.
9.9.1.Company overview
9.9.2.Company snapshot
9.9.3.Operating business segments
9.9.4.Product portfolio
9.9.5.Business performance
9.9.6.Key strategic moves and developments
9.10.Zoetis Inc.
9.10.1.Company overview
9.10.2.Company snapshot
9.10.3.Operating business segments
9.10.4.Product portfolio
9.10.5.Business performance
9.10.6.Key strategic moves and developments
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