Animal Medicine Global Market Report 2023 – By Type (Veterinary Pharmaceuticals, Feed Additives), By Type of Animal (Livestock, Companion Animals), By End-Use (Veterinary Hospitals, Pharmacies And Drug Stores, Veterinary Clinics) – Market Size, Trends, And Global Forecast 2023-2032
What is the definition of the animal medicine market?
The animal medicine market consists of sales of veterinary medicines and related services by entities (organizations, sole traders, and partnerships) that manufacture veterinary medicines used to treat animal diseases and/or to improve animals’ performance and health. The animal medicine industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals and establishments that manufacture medical feed additives and nutritional feed additives.
How will the animal medicine market drivers and restraints affect animal medicine market dynamics? What forces will shape the animal medicine industry going forward?
The animal medicine market growth is aided by the increasing penetration of pet insurance. However, some animal medicine market restraints include the COVID-19 outbreak.
What is the forecast market size of the animal medicine market?
The animal medicine market is expected to reach $62.95 billion in 2026 at a rate of 8.6%.
How is the animal medicine segmented?
The global animal medicine market is segmented -
1) By Type: Veterinary Pharmaceuticals, Feed Additives 2) By Type of Animal: Livestock, Companion Animals 3) By End-Use: Veterinary Hospitals, Pharmacies and Drug Stores, Veterinary Clinics Subsegments Covered: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Other Veterinary Pharmaceuticals, Medical Feed Additives, Nutritional Feed Additives
Which region has largest share, and what is the market size and growth by geography according to the animal medicine global market report?
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Who are the key players of the animal medicine market?
Top competitors in the animal medicine market are Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co, Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC – Biomune, Phirbo Animal Health, Dechra Pharmaceuticals, Virbac Group, and Vetoquinol S.A.
What are the key trends in the animal medicine market?
Major trends influencing the animal medicine market include the increasing popularity of nanotechnology in the animal medicine market as a substitute for veterinary antibiotics to tackle antibiotic resistance. Nanotechnology is the study of controlling matter on an atomic and molecular scale. Nanotechnology in the animal medicine industry is used to improve diagnosis, treatment, animal growth promotion, and production. Nanoparticles are mainly used as alternative antimicrobial agents to reduce the use of antibiotics and improve the detection of pathogenic bacteria. They are also used as drug delivery agents for new drugs and vaccines candidates to improve their characteristics and performance, and to reduce drug resistance in animal organisms.
What are the major opportunities in the animal medicine market and the approaches companies can take to take advantage of them?
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How does the animal medicine market relate to the overall economy and other similar markets?
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