Global Animal Drugs Market to exceed $41 Bn by 2025

January 22, 2020


As per the recent study titled ‘Animal Drugs Market Size By Product (Drugs {Antiparasitic, Anti-inflammatory, Anti-infectives}, Vaccines {Modified Live Vaccines [MLV], Killed Inactivated Vaccines}, Medicated Feed Additives {Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals}, By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}), By Route of Administration (Oral, Injectable, Topical), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacy and Drug Stores, E-commerce), Industry Analysis Report, Regional, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global animal drugs market is expected to cross US $41 billion by the year 2025.
 

Increasing awareness regarding animal health and importance of animal drugs has been driving the animal drugs market. Rising emphasis of the market players towards developing effective animal healthcare products, coupled with inflow of investments for research & development of new drugs will boost market size. Other factors aiding the market expansion include surging adoption of advanced animal drugs, in tandem with introduction of new vaccines.
 

Based on the product terrain, the report cites that drugs segment was worth US $17.7 billion in 2018 and is presumed to grow significantly in the upcoming years, owing to the capability of these drugs to prevent and control diseases among livestock and companion animals. Animal drugs are regulated by U.S. FDA to ensure their safety and effectiveness.
 

According to the animal type, animal drugs market from livestock segment is anticipated to register a growth rate of 4.5% during 2019-2025. The middle-income economies which lack optimal animal healthcare facilities largely depend on veterinary drugs. This factor coupled with advancements in livestock drugs will bolster the segmental growth.
 

Speaking of the administration route, injectable animal drugs market segment was valued at US $13 billion in 2018 and is expected to gain decent traction over the forecast period. Administration of drug through injection is considered the most effective delivering therapy as the drug is directly introduced into systemic circulation, hence eliminating the need for solute absorption.
 

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In terms of the distribution channel, veterinary hospitals segment was worth US $11.2 billion in 2018, as these settings offer early detection of disease, corrective health treatment, preventive healthcare, and quality treatment at affordable cost. Availability of insurance coverage plans, along with expansion of veterinary hospital sector are augmenting the distribution of animal drugs from this setting.
 

Considering the geographical landscape, North America held over 37% revenue share of animal drugs market in 2018. The regional growth can be attributed to surging pet adoption and subsequent concerns regarding pet health. Rising emphasis of regional players towards developing novel animal drugs to treat chronic ailments, along with prevalence of veterinary hospitals and drug stores across the region are favoring the North America market.
 

The prominent companies of animal drugs market are Zoetis, Virbac, Merch & Co., Inc., Elanco, Dechra Pharmaceuticals, Ceva Santé Animale, Boehringer Ingelheim, and Bayer.


Frequently Asked Questions (FAQ) :

Increasing awareness regarding animal health and importance of animal drugs has been driving the animal drugs market. Rising emphasis of the market players towards developing effective animal healthcare products, coupled with inflow of investments for research & development of new drugs will boost market size. Other factors aiding the market expansion include surging adoption of advanced animal drugs, in tandem with introduction of new vaccines.
Speaking of the administration route, injectable animal drugs market segment was valued at US $13 billion in 2018 and is expected to gain decent traction over the forecast period. Administration of drug through injection is considered the most effective delivering therapy as the drug is directly introduced into systemic circulation, hence eliminating the need for solute absorption.
North America held over 37% revenue share of animal drugs market in 2018. The regional growth can be attributed to surging pet adoption and subsequent concerns regarding pet health. Rising emphasis of regional players towards developing novel animal drugs to treat chronic ailments, along with prevalence of veterinary hospitals and drug stores across the region are favoring the North America market.
The prominent companies of animal drugs market are Zoetis, Virbac, Merch & Co., Inc., Elanco, Dechra Pharmaceuticals, Ceva Santé Animale, Boehringer Ingelheim, and Bayer.