Global Animal Medicine Market Size, Forecasts, And Opportunities – Includes Pharmacy For Animals
Learn about the global animal medicine market through The Business Research Company, which provides information on animal medicine market size, animal medicine market drivers and restraints, animal medicine market players, the COVID-19 impact on the animal medicine market, and more.
The animal medicine market size is expected to grow from $41.20 billion in 2020 at a CAGR of 5.7% to reach $54.31 billion in 2025. The global animal medicine market size is expected to reach $72.42 billion in 2030, at a CAGR of 5.9%.
The increasing penetration of pet insurance is expected to drive the animal medicine market.
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The animal medicine market consists of sales of veterinary medicines and related services by entities (organizations, sole traders, and partnerships) that manufacture veterinary medicines used to treat animal diseases and/or to improve animals’ performance and health. The animal medicine industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals, and establishments that manufacture medical feed additives and nutritional feed additives.
Global Animal Medicine Market Segments Include:
By Type: Veterinary Pharmaceuticals, Feed Additives
By Veterinary Pharmaceuticals: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Others – Veterinary Pharmaceuticals
By Feed Additives: Medical Feed Additives, Nutritional Feed Additives
By Type of Animal: Poultry, Cattle (Dairy And Meat Purposes), Dogs And Cats, Other Companion Animals, Other Farm Animals
By Type of Prescription : OTC, Prescription
By Route of Administration: Oral, Intravenous, Subcutaneous, Others
By Distribution Channel: Veterinary Services, Online, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global animal medicine market, accounting for 58.0% of the total in 2021.
The production of medicated feed additives is a major trend in the animal medicine market. Medicated feed additives in general help maintain animal health and promote growth and feed efficiency. They include vitamins, amino acids, fatty acids, pharmaceuticals, minerals, growth hormones and fungus. Animal medicines manufacturers have started increasingly producing medicated feed additives to improve efficiencies of production.
TBRC’s Animal Medicine Market Report Covers:
Major Market Players: Zoetis, Inc., Boehringer Ingelheim GmbH, Merck & Co., Inc., Elanco Animal Health Incorporated, Ceva Santé Animals
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Animal Medicine Market Report 2022 is one of a series of new reports from The Business Research Company that provides animal medicine market overviews, analyzes and forecasts market size, share, animal medicine market players, animal medicine market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s animal medicine market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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