Global Veterinary Drugs Market, By Animal Type (Companion Animal, Livestock Animal), By Product Type (Anti-Infective, Parasiticides, Anti-Inflammatory, Others), By Route of Administration (Oral, Parenteral, Topical), and opportunities and forecast 2020-2027.
Veterinary Drugs Market Segment Overview
The global Veterinary Drugs market is projected to grow at a significant rate in the estimated period. Since the previous few decades, the ownership of companion or livestock animals of many known and exotic breeds has remained high across developed countries. In this way, developing countries are also catching up. Livestock animals are mostly domesticated for their economic usefulness around the world. Companion animal dairy products, meat, fibres, and fertilizers have significant commercial value. Additionally, their labour is used in agriculture and farming. Besides this, humans have developed a fondness for caressing companion animals. Demand for veterinary drugs has increased as a result of these circumstances, as veterinarians and pet owners place a greater emphasis on protecting the health and well-being of companion animals. Each of these factors is anticipated to have a definite impact on the Veterinary Drugs market during the forecast period.
While the market continues to be threatened by the availability of low-quality counterfeit items, veterinary medications are becoming more affordable, which will keep demand rising in the future years.
Covid-19 Impact on Veterinary Drugs Market
|Market size available for years
|Base year considered
||Value (USD Million)
||Animal Type, Product Type, Route of Administration, and Region.
||North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
||Zoetis, Inc., Boehringer Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva Santé Animale, Dechra Pharmaceuticals PLC., Merck & Co., Inc., Virbac, Vetoquinol, Others.
In addition, the current Veterinary Drugs Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Veterinary Drugs Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.Veterinary Drugs Market Segmentation
According to Animal Type, the Livestock Animal segment held the largest share in the Veterinary Drugs market. This is due to the high demand for high-quality protein and poultry meat. Furthermore, the companion animal segment will show strong growth in the forecast period. The increasing pet ownership and the rise in healthcare expenditure on them will boost this segment in the forthcoming years. Based on Product Type, the Anti-Infective segment held the largest share of the market.
Veterinary Drugs Market, By Animal Type
· Companion Animal
· Livestock Animal
Veterinary Drugs Market, By Product Type
Veterinary Drugs Market, By Route of Administration
· TopicalVeterinary Drugs Regional Overview
Geographically, North America holds a dominant position in the market and going forward too will likely retain its stronghold. The region exhibits a higher incidence of pet ownership as compared to other regions. Furthermore, Europe is the second-largest region for the market. Again, in the coming years, the Asia Pacific and Latin America are also anticipated to contribute to revenue generated by the overall market. The growing occurrence of infectious diseases among animals will propel the demand for effective veterinary drugs in the Asia Pacific and Latin America.
Veterinary Drugs Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA) Veterinary Drugs Market, Key Players
· Zoetis, Inc.
· Boehringer Ingelheim GmbH
· Bayer AG.
· Elanco Animal Health (Eli Lilly and Company)
· Ceva Santé Animale
· Dechra Pharmaceuticals PLC.
· Merck & Co., Inc.
· Virbac, Vetoquinol
Frequently Asked Questions (FAQ) :
Q1. Which Segments are covered in the Veterinary Drugs Market report?
A. Animal Type, Product Type, Route of Administration, and Region. these segments are covered in the Veterinary Drugs market report.
Q2. Which are the parts of the Route of Administration segment in the Veterinary Drugs market?
A. Oral, Parenteral, Topical are parts of the Route of Administration segment in the Veterinary Drugs market.
Q3. Which segment is projected to hold the largest share in the Veterinary Drugs Market?
A. The livestock Animal segment is projected to hold the largest share in the Veterinary Drugs Market.
Q4. Which region holds the largest share in the Veterinary Drugs market?
A. North America held the largest share in the global Veterinary Drugs market
Q5. Which are the prominent players in the Veterinary Drugs Market?
A. Zoetis, Inc., Boehringer Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva Santé Animale, Dechra Pharmaceuticals PLC., Merck & Co., Inc., Virbac, Vetoquinol, Others. are some key players in the Veterinary Drugs Market.