Global Animal Pharmaceuticals Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Animal Pharmaceuticals Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global animal pharmaceuticals market report has been segmented on the basis of product type, animal type, and region.
Global Animal Pharmaceuticals Market: Overview
Animal pharmaceuticals are used to treat or prevent diseases and infections. Animal pharmaceuticals are available in a variety of forms, which allows veterinarian to manage needed medications, such as liquids, pills, injections, and powders. Animal pharmaceuticals are regulated by the Food and Drug Administration (FDA) Center for veterinary medicines.
Global Animal Pharmaceuticals Market: Dynamics
Increasing intake of meat and milk products in routine diet, growing zoonotic and food borne diseases, and trend of pet adoption are some key factors expected to drive growth of target market. In addition, growing health concern related to animals and increasing healthcare expenses are some factors estimated to fuel growth of target market.
Recent trend observed in target market is number of animal healthcare NGOs are increasing. In addition, research and development activities related to productivity improvements along with growth of generic and over-the-counter (OTC) drugs for animal care are some of key trends witnessed in the global market.
However, stringent rules and regulations in animal testing and restrictions imposed by regulatory authorities may hamper growth of global market over the forecast period.
Global Animal Pharmaceuticals Market: Segment Analysis
Among the product type segments, the vaccine segment is expected to account for major share in terms of revenue in the global market.
Among the animal type segments, the production animals segment is estimated to register significant growth rate over the forecast period.
Global Animal Pharmaceuticals Market: Region Analysis
Geographically, North America is expected to dominate global animal pharmaceuticals market, owing to factors such as high standard of living and increasing awareness regarding diseases associated with livestock and companion animals. In addition, growing demand for pet ownership and presence of major players in the region are some of aspects acting as a major contributor for growth of target market.
Also, changing lifestyle in the developing countries such as China and India, has increased the adoption of production animals, which supports growth of the animal pharmaceuticals market. On the other hand, markets in Europe and Middle East & Africa are expected to contribute significant revenue share in the global market due to increasing animal-sourced food as well as increasing demand for proper care and treatment of the animals. The animal pharmaceuticals market is estimated to benefit from the opportunities in terms of new legislations for animal pharmaceuticals.
Positive support and efforts from numerous government & associations such as Food and Drug Administration (FDA), Federal Food, Drug, and Cosmetic Act (FFDCA), American Pet Products Association (APPA) and American Veterinary Medical Association (AVMA) are estimated to boost market growth over the forecast period. According to US Food and Drug Administration, new drugs and certain biologics approved by FDA in 2018 to treat cats, dogs, and livestock.
Global Animal Pharmaceuticals Market Segmentation:
By Product Type:
- Veterinary Drugs
By Animal Type:
- Companion Animals (Canine, Feline, and Equine)
- Production Animals (Livestock and Poultry)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Zoetis Inc.
- Merck & Co. Inc.
- Vetoquinol S.A.
- Virbac SA,
- Boehringer Ingelheim GmbH
- Perrigo Company plc
- Eli Lilly and Company (Elanco)
- Bayer AG
- Phibro Animal Health Corporation
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