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Animal Drugs Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-08 

Animal Drugs Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global animal drugs market size is projected to witness lucrative growth spurt over the forthcoming time period. With the increasing introduction of new and advanced animal drugs, the global animal drugs market is projected to witness a lucrative growth opportunities through a diverse array of verticals.

Increasing focus of numerous firms towards the development of effective healthcare products for livestock and other companion animals is likely to push the market share. Moreover, the market is also witnessing growth due to the inclusion of new formulations, leading to the launch of new products.

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Additionally, global firms are also engaged in spreading awareness regarding the importance of animal drugs, further promoting increase in adoption of animal drugs throughout the world. For instance, in May of 2019, Merck Animal Health unveiled BRAVECTO Cares, an educational campaign highlighting the role that service dogs play and the importance of keeping them healthy and protecting them from fleas and ticks.

As per a research report by GMI, global animal drugs market is estimated to surpass $41 billion by 2025.

With respect to product segment, the animal drugs market is bifurcated into medicated feed additives, vaccines, and drugs. Among these, drugs are anticipated to witness momentous growth during the forthcoming timeframe.

The drugs segment of the animal drugs market was valued at over $17.7 billion back in 2018. The U.S. Food and Drug Administration regulates human and veterinary drugs, medical devices and biologic products to assure their effectiveness and safety.

Furthermore, the government also registers animal drugs to protect health of people who consume food of animal origin. Since, the animal drugs are essential to prevent and control disease in companion and livestock animals, the segment would witness heavy growth in the market.

The injectable segment, in 2018, was valued for around $13 billion and is projected to witness numerous growth opportunities over the forecast time period. Injectable drug administration route is considered to be the most efficient way of facilitating therapy to animals since it completely removes the solute absorption need in animals.

The injectable route directly administers the medicine into the system circulation. Substances get absorbed directly into the animal’s blood vessels on chronic or acute basis, thus leading to segmental growth in the market with the help of the convenience factor.

In 2018, veterinary hospitals segment was estimated to be valued at over $11.2 billion. The segment is further anticipated to grow significantly over the analysis period. These hospitals facilitate numerous insurance plans with several coverage schemes designed specifically for providing better treatment options to the animals.

In addition, factors such as early disease detection, corrective health treatments, cost-effective and preventive healthcare, quality treatment would foster the distribution channel segment growth in the market.

Growth of veterinary hospitals across developing nations would also be a key factor augmenting the animal drug distribution in veterinary hospitals.    

North America animal drugs market accounted for more than 37% of the overall market revenue share back in 2018. The region is also projected to witness lucrative growth through 2025. This growth can be credited to the rising focus of regional organizations on new drug development to treat several chronic diseases found in animals.

Along with novel drug development, a robust network of veterinary hospitals, drug stores and clinics, would further push the market share in the region. Furthermore, increasing adoption of pets and growing concerns among pet owners regarding the health of their pets would proliferate the market share further.  

Companies like Virbac, Dechra Pharmaceuticals, Ceva Santé Animale, Zoetis, Boehringer Ingelheim, Bayer, Elanco and Merck are some of the notable industry players.

Based on GMI, estimates, the animal drugs market size is set to exceed $41 billion by 2025. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/animal-drugs-market

Partial Chapter of the Table of Content 

Chapter 6. Animal Drugs Market, By Route of Administration

6.1. Animal drugs market share by route of administration, 2018 & 2025

6.2. Oral

6.2.1.  Market size, by region, 2014 – 2025

6.3. Injectable

6.3.1.  Market size, by region, 2014 – 2025

6.4. Topical

6.4.1.  Market size, by region, 2014 – 2025

6.5. Others

6.5.1.  Market size, by region, 2014 – 2025

Chapter 7. Animal Drugs Market, By Distribution Channel

7.1. Animal drugs market share by distribution channel, 2018 & 2025

7.2. Veterinary hospitals

7.2.1.  Market size, by region, 2014 – 2025

7.3. Veterinary clinics

7.3.1.  Market size, by region, 2014 – 2025

7.4. Pharmacy and drug stores

7.4.1.  Market size, by region, 2014 – 2025

7.5. e-commerce

7.5.1.  Market size, by region, 2014 – 2025

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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