Veterinary Pharmaceuticals Market 2024 Technology Scouting, Industry Insights, Business Outlook And Key Players Analysis Till 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Veterinary Pharmaceuticals Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $46.54 billion In 2028 At A CAGR Of 7.3% :

The veterinary pharmaceuticals market size has grown strongly in recent years. It will grow from $32.53 billion in 2023 to $35.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased pet population, the increased overall spending by individuals on pets, the growing penetration of e-commerce platforms promoting online pharmacies, the emerging markets growth, the increasing government initiatives and the increased disease prevalence..

The veterinary pharmaceuticals market size is expected to see strong growth in the next few years. It will grow to $46.54 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to the increasing pet ownership, the increasing population growth, the increasing disposable income, the increasing urbanization, the increasing penetration of pet insurance and the growing government support will drive the market.. Major trends in the forecast period include focus on stem cell therapy to treat animals, focus on application of nanotechnology in veterinary medicines to tackle antibiotic resistance, development of chewable tablets, focus on use of telemedicine platforms to reduce the impact of covid-19, development of advanced vaccines, focus on super-combo parasiticides, use of subunit and virus-like particle (vlp)-based vaccines and focus on strategic partnerships and collaborations. .

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Veterinary Pharmaceuticals Market Major Segments
The veterinary pharmaceuticals market covered in this report is segmented -

1) By Type: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Other Veterinary Pharmaceuticals
2) By Type Of Animal: Livestock, Companion Animals
3) By Type Of Vaccine: Inactivated Vaccines, Attenuated Vaccines, Recombinant Vaccines, Other Vaccines
4) By Route Of Administration: Oral, Parenteral, Topical, Other Routes Of Administration
5) By End User: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores

Key Driver - Rising Disease Prevalence Among Animals Fuels Growth In The Veterinary Pharmaceuticals Market

The increase in the prevalence rate of diseases among animals serves as one of the major drivers for the veterinary pharmaceuticals market. The increase in the incidence of diseases in livestock and companion animals will require medicines to treat the animals for the diseases. For instance, according to the Banfield State of Pet Health Report, the prevalence of diabetes in dogs has increased by 79.7% from 13.1 cases per 10,000 to 23.6 cases whereas the prevalence rate increased by 18% in cats. The increase in the prevalence rate of diseases among animals results in an increased demand for veterinary pharmaceuticals market.

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Prominent Trend - Regulation And Approval For Medical Products

The veterinary pharmaceuticals market is regulated by government agencies such as European Medicines Agency (EMA), USFDA (the US Food and Drug Administration), and others. For instance, the EU agencies require 6 to 12 months to approve veterinary medicinal products. Moreover, it requires all parts of the registration dossier to be submitted together, unlike the US-FDA, which accepts phased submissions. The US-FDA assesses each technical section for 6 months which may be extended to another 6 month cycle if questions or concerns are raised. However, the technical sections' assessment is done simultaneously, and therefore, the manufacturers should identify the time-consuming steps and plan the work accordingly and estimate the date of approval. Also, the license validity and renewal of the application in the EU region is very difficult upon the existing regulatory policies. Therefore, the manufacturers of veterinary pharmaceuticals should plan well, communicate effectively to minimize the costs and reduce timelines.

Veterinary Pharmaceuticals Market Players
Major companies operating in the veterinary pharmaceuticals market report are Zoetis Inc, Merck & Co., Inc, Boehringer Ingelheim International Gmb, Elanco Animal Health Incorporated, Ceva Sante Animale, Virbac SA, Dechra Pharmaceuticals PLC, Vetoquinol S.A., Phibro Animal Health Corporation, Kyoritsu Seiyaku Corporation, National Meditek, Fartovet Industry Limited, Hebei Chengshengtang Animal Pharmaceutical, Shijiazhuang Fengqiang Animal Pharmaceutical Co,.Ltd, Vvaan Lifesciences Private Limited, Century Pharmaceuticals Limited, Cargill India Pvt. Ltd., Jurox Pty Ltd, Bayer, Veteq, Nimrod Veterinary Products Ltd., Bimeda, Orion Animal Health, Petmedix, Eco Animal Health, Teknofarma, Farmavet, Candioli Pharma, Suanfarma, Marino Ibericamed, MPA veterinary, Lamons Laboratories SA, Swetrade Pharmaceuticals AB, Animalcare, VET-AGRO Sp. z o. o, CANPOLAND SA, Cymedica,, VIC Group, NITA-FARM, Apicenna LLC, Delos Medica, Provet Group, VitOMEK LCC,, Bioveta AS, Veterinarski Zavod Subotica, PharmaGal s.r.o.,, Bond Vet, trifecta Pharmaceuticals USA LLC., Trifecta Pharmaceuticals USA LLC., Bio-Synthesis Inc, Small Door Veterinary, Fuzzy, Alberta Veterinary Laboratories Ltd., Veterinary Purchasing Co. Ltd.,, Maure, Peru Animal Hospital, Miami County Veterinary Clinic, Cindy Fouts, UCBVET, Syntec, Sauvet, Vetanco, Chemo Argentina, Brouwer, Agrovet Market Animal Health, Lemavet, Primo Veterinary Medicines Trading LLC., AL Kubara Veterinary Medicines Trading LLC., Eurovets Veterinary Suppliers, Physio Evolution, Herzliya Veterinary Hospital, Oron Veterinary Center, Dr Aviram Ezra - Veterinarian, Saudi Pharmaceutical Industries, DBK Pharma S.A.E., Dawa Limited, Aesthetics Limited, Neimeth International Pharmaceuticals, Osy-Adamu Pharmaceutical Co., M S J Afro Agro Pharmacy, Global Vet (U) Ltd

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Largest And Fastest Growing Region In The Market
North America was the largest region in the veterinary pharmaceuticals market in 2023. Asia-Pacific was the second-largest region in the global veterinary pharmaceuticals market report. The regions covered in the veterinary pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Veterinary Pharmaceuticals Market Report Structure
3. Veterinary Pharmaceuticals Market Trends And Strategies
4. Veterinary Pharmaceuticals Market - Macro Economic Scenario
5. Veterinary Pharmaceuticals Market Size And Growth
…..
27. Veterinary Pharmaceuticals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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