Veterinary Medicine Market Shares Analysis, Key Development Strategies and Forecasts Till 2023

Market Research Future Published a Half-Cooked Research Report on Global Veterinary Medicine Market. The Global Veterinary Medicine Market is Expected to Grow at a CAGR of 8.1% during forecasted period 2017-2023.

Veterinary Medicine Market - Scenario

Veterinary medicine, which deals with prevention, diagnosis, and treatment of diseases, disorder, and injury in animals. Veterinary medicine is widely practiced worldwide due to increasing number of pet adoptions, rising veterinary expenditure, increasing number of veterinary professionals, and rising demand for pet insurance.

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Increasing spread of various infections in humans from animals through consumption of animal products and not treating street animals properly are the major restraints for the growth of the market. The global veterinary medicine market is expected to grow at a CAGR of 8.1% during forecasted period 2017-2023.

Veterinary Medicine Market - Highlights

Veterinary medicine, which deals with prevention, diagnosis and treatment of diseases, disorder, and injury in animals. Veterinary medicine is widely practiced worldwide due to increasing number of pet adoptions, rising veterinary expenditure, increase in the number of veterinary professionals and rising demand for pet insurance.

Global veterinary medicine market is expecting a huge growth in the coming years due to increasing love for pet and increasing demand for poultry animals. The considerable decisions in research and development in the veterinary medicine is expected to boost the growth of market. Additionally, strict policies from government for wild animal’s welfare across the region also boost the growth of the market. 

Veterinary Medicine Market - Top Players                                                 

Zoetis, Inc. (Pfizer), Merck & Co., Inc. (Intervet), Eli Lilly and Company (Elanco/Novartis), Bayer Healthcare AG, Ceva Santé Animale, Virbac S.A, Vetoquinol SA, Boehringer Ingelheim GmbH, Nutreco N.V. and Sanofi S.A. (MERIAL Limited). Major animal feed additive manufacturers are Cargill Inc. (Provimi), ADM Alliance Nutrition, Koninklijke DSM N.V and Evonik Industries AG among others.

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Veterinary Medicine Market - Segmentation 

The global veterinary medicine market is segmented on the basis of products, animals, route of administration, and end users.

On the basis the animals it is sub-segmented into companion and domesticated animals.

On the basis of the products it is sub-segmented into injury medicine, disorder medicine, and diagnosis medicine.

On the basis of the route of administration it is sub-segmented into Parental, oral, and topical.

On the basis of end users, it is sub-segmented into research institutions, veterinary hospitals, veterinary clinics, and others.  

Veterinary Medicine Market - Regional Analysis

On the regional basis, the market is segmented into America, Europe, Asia pacific, and the Middle East & Africa. America dominates the global market for veterinary medicine as it is well developed country and has good animal welfare policies.

The Americas accounts for a significant market share owing to high expenditure on the health care especially of the U.S. and Canada. The high concentration of the major veterinary hospitals in the developed countries of this region coupled with good reimbursement rates are adding fuel to the market growth.

Europe is the second largest market in the world due to growing healthcare industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large pharmaceutical industry.

Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth.

Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. In Middle East & Africa, lack of awareness and not much development in welfare for animals resulted in limited growth in this region.    

TABLE OF CONTENTS

1 INTRODUCTION                                                

1.1 DEFINITION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS & LIMITATIONS

1.2.2.1 ASSUMPTIONS

1.2.2.2 LIMITATIONS

1.3 MARKET STRUCTURE:

2 RESEARCH METHODOLOGY

2.1 RESEARCH PROCESS:

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH:

3 MARKET DYNAMICS

3.1 DRIVERS

3.2 RESTRAINTS

3.3 OPPORTUNITIES

3.4 MACROECONOMIC INDICATORS

4 MARKET FACTOR ANALYSIS

4.1 PORTERS FIVE FORCES MODEL

4.2 BARGAINING POWER OF SUPPLIERS

4.3 BARGAINING POWER OF BUYERS

Major TOC Continued…!
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