Global Veterinary Medicine Market By Product Type (Drugs, Vaccines and Others), By Animal Type (Companion Animals and Others), By Route of Administration (Oral Route and Others), By End-Use, and By Region – Global Forecast to 2030

MarketResearch.Biz announces the publication of its most recently generated research report titled, “Global Veterinary Medicine Market by Product Type (Drugs, Vaccines, Medicated Feed Additives), By Animal Type (Companion Animals, Livestock Animals), By Route of Administration (Oral Route, Parenteral Route, Topical Route), and By End-Use (Reference Laboratories, Point-of-care testing/In-house testing, Veterinary Hospitals & Clinics, Other End-Use), by Region – Global Forecast to 2030”, which offers a holistic view of the global Veterinary Medicine Market through systematic segmentation that covers every aspect of the target market. The Global Veterinary Medicine Market is projected to be US$ 27,282.2 Mn in 2020 to reach US$ 48,978.7 Mn by 2029 at a CAGR of 6.9%.

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Veterinary medicine is the branch of medicine that involves the diagnosis, treatment, prevention, and control of animal injuries. It also involves animal husbandry, breeding, and animal product development. The case file covers domestic animals and wild animals of different species with different medical conditions. Veterinary experts certified by the board are responsible for the diagnosis and treatment of animals. According to the types of services provided by veterinarians, it can be subdivided into companion animal veterinarians, veterinary experts, food animal veterinarians, food safety and inspection veterinarians, and research veterinarians.

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Global Veterinary Medicine Market Revenue (US$ Mn), 2020–2030 Increasing disposable income in various countries is driving the demand for companion animals such as dogs, rabbits, and cats among young and old. In turn, this intensifies the need to maintain the well-being of pet animals. In addition, the availability of pet insurance has increased the affordability of pet medications. This is another factor that is expected to drive the growth of the target market.

The relatively high cost of animal vaccines and animal treatment-related costs are some of the main factors that are expected to have a negative impact on the growth of the target market. The existence of other cheaper alternative treatments, such as homeopathic medicine, herbal medicine, and chiropractic, is also expected to inhibit the growth of the global veterinary medicine market.

Global Veterinary Medicine Market is segmented based on Product Type, Animal Type, Route of Administration, End-Use,  and region. Based on Product Type, the market is segmented into Drugs, Vaccines, Medicated Feed Additives. The Drugs segment accounts for the majority share and is expected to witness a significant share in terms of revenue over the forecast period. Based on Animal Type, the market is segmented into Companion Animals, Livestock Animals. The Livestock Animals segment accounts for a significant revenue share in the next coming years. Based on the Route of Administration, the market is segmented Oral Route, Parenteral Route, Topical Route. The Parenteral Route segment accounts for a majority share in the global Veterinary Medicine Market. Based on End-use, the market is segmented into Reference Laboratories, Point-of-care testing/In-house testing, Veterinary Hospitals & Clinics, Other End-Use. The Veterinary Hospitals & Clinics segment accounts for a majority share in the global Veterinary Medicine Market

Global Veterinary Medicine Market Attractiveness Analysis by Form, 2014–2030By region, the market is segmented into North America, Europe, APAC, South America and Middle East Africa. Based on the region, Asia Pacific market is estimated to account for major revenue share and is projected to dominate the global Veterinary Medicine Market in the next coming years.

The research report on the global Veterinary Medicine Market includes profiles of some of the major companies such as Novartis AG, Merck Animal Health (Merck & Co., Inc.), Boehringer Ingelheim GmbH, Evonik Industries AG, Zoetis Inc, Elanco Animal Health Incorporated (Bayer Animal Health), Ceva Santé Animale S.A., Virbac SA, Dechra Pharmaceuticals Plc, Vetoquinol SA.

Global Veterinary Medicines Market Segmentation:

By Product Type:

• Drugs
• Vaccines
• Medicated Feed Additives

By Animal Type:

• Companion Animals
• Livestock Animals

By Route of Administration:

• Oral Route
• Parenteral Route
• Topical Route

By End-use:

• Reference Laboratories
• Point-of-care testing/In-house testing
• Veterinary Hospitals & Clinics
• Other End-Use

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa