The global veterinary medicine market is expected to grow at a CAGR of 7.5% during the forecast period (2022-2028). A significant rise in zoonotic and chronic disease cases is the major factor driving the market growth. The global livestock population has also been rapidly increasing over the last few decades. According to the United States Department of Agriculture (USDA), there were approximately 103 million cattle and 32.05 million beef cows in the US in July 2020, with the number expected to increase significantly in the coming years. Furthermore, rising R&D for animal vaccines, rising pet adoption rates, rising meat consumption, and mandatory vaccination are expected to boost the demand for veterinary pharmaceuticals and vaccines in the near future.
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To stay competitive, market players are forming strategic alliances, expanding regionally, and launching new products. For instance, Zoetis invested in new manufacturing and development facility in Ireland in October 2021 to expand its Monoclonal Antibodies (mAbs) manufacturing capabilities. This is expected to improve its portfolio of veterinary therapeutic biopharmaceuticals. Merck acquired IdentiGEN, a company that specializes in DNA-based animal traceability solutions for aquaculture and livestock, from MML Growth Capital Partners in Ireland in August 2020. This allowed the company to diversify its product offering.
Scope of the Veterinary Medicine Report
The research study analyzes the Veterinary Medicine industry from a 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
- Market Overview and growth analysis
- Import and Export Overview
- Volume Analysis
- Current Market Trends and Future Outlook
- Market Opportunistic and Attractive Investment Segment
Some of the key players profiled in the study are Ceva Sante Animale, Vetoquinol S.A., and Zoetis Inc., among others.
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Veterinary Medicine Market Segmentation:
By Product
- Biologics
- Pharmaceuticals
By Animal Type
- Production
- Companion
By Mode of Delivery
- Oral
- Parenteral
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Geographic Coverage
- North America Market Size and/or Volume
- Latin America Market Size and/or Volume
- Europe Market Size and/or Volume
- Asia-Pacific Market Size and/or Volume
- Rest of the world Market Size and/or Volume
Key questions answered in this report:
- What is the size of the Veterinary Medicine market and what is its expected growth rate?
- What are the primary driving factors that push the Veterinary Medicine Market forward?
- What are the Veterinary Medicine Industry’s top companies?
- What are the different categories that the Veterinary Medicine Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Veterinary Medicine Market sample report and company profiles?
The report covers the following objectives:
- Proliferation and maturation of trade in the Veterinary Medicine market.
- The market share of the Veterinary Medicine market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Veterinary Medicine market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Veterinary Medicine market.
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