Animal Medicines are used to diagnose, cure, treat or prevent diseases. Veterinary pharmaceutical companies produce both generic and branded drugs.
The global animal medicine market was valued at $18.1 billion in 2017. North America was the largest geographic region accounting for $8.0 billion or 44.1% of the global market. The USA was the largest country accounting for $5.0 billion or 27.6% of the global animal medicine market.
Veterinary pharmaceutical producers have started using Stem Cell Therapy as an animal medicine due to its excellent capabilities of healing arthritis or animal injury. Stem Cell Therapy is a process of injecting stem cell into the body of the animal to replace the damaged cells of the body. The injected stem cell is unspecialized and acquires the property of the cell that has to be replaced. It also divides itself into as many cells as required by the body. It enables to treat the bone and ligament injury, kidney and liver disease and some kinds of skin diseases.
Companies Covered: Zoetis Inc., Boehringer Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva Santé Animale
Market Segments Included: Veterinary Pharmaceuticals, Feed Additives
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