According to the recent research report titled ‘GLOBAL Veterinary Medicines Market 2019-2028’, available with Market Study Report, global veterinary medicines market size is projected to expand at 4.11% CAGR during 2019-2028.
 

Increasing ownership of pets, surging medical conditions in animals, and rising livestock production are the key factors driving global veterinary medicines market growth. In addition, increasing demand for veterinary specialization and growing animal healthcare expenditure are also creating lucrative prospects for the market expansion.
 

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Coming to the restraints, lack of adequate number of veterinarians and adverse effects of post-vaccination are the factors anticipated to hamper worldwide veterinary medicines industry remuneration. Moreover, hefty cost of animal vaccines and strict regulations are also likely to impede the business expansion.
 

Based on animal type, the market is categorized into livestock animals and companion animals. With respect to distribution channel, the industry is split into retail veterinary pharmacies and veterinary hospital pharmacies.
 

Moving on to route of administration, global veterinary medicines market is categorized into topical route, oral route, and parental route. Elaborating on product category, the industry is classified into medicated feed additives (amino acids and antibiotics), vaccines (recombinant vaccines, attenuated vaccines, and inactivated vaccines), and drugs (parasiticide, anti-inflammatory, and anti-infective).
 

Considering the regional landscape, Asia Pacific veterinary medicines industry is projected to gain momentum over the coming years, increasing investments in research & development by firms, coupled with constant efforts for commercialization of veterinary pharmaceuticals and vaccines at low cost. Additionally, surging demand to control the increasing cases of zoonotic disease and managing disease outbreaks is also adding to the industry potential.
 

Leading companies impacting global veterinary medicines market trends are Kindred Biosciences Inc., Hester Biosciences Ltd., Elanco Animal Health Incorporated, Neogen Corporation, Dechra Pharmaceuticals plc, Virbac SA, Ceva Santé Animale, Archer-Daniels-Midland Company (ADM), Vetoquinol (Soparfin SCA), Biogenesis Bago SA, Zoetis Inc., Merck & Co., Boehringer Ingelheim Animal Health GmbH, Indian Immunologicals Ltd (IIL), and Evonik Industries AG (RAG-Stiftung).
 

Of these, Zoetis Inc., headquartered in the United States, is one of the most well-known manufacturers of drugs and vaccines for pets and livestock. Vaccines, diagnostic drugs, genetic testing, biodevices, and facilities are among the company's offerings. The firm provides its products for a variety of species like fish, cattle, sheep, cats, dogs, and others.