Global Animal Medicine Market 2022 – Market Opportunities And Strategies
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The animal medicine market is expected 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 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.
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Animal Medicine Market Driver
The increasing penetration of pet insurance is expected to drive the animal medicine market. Globally, the pet insurance market is largely untapped with extremely low penetration rates providing a large market opportunity.
Animal Medicine Market Trends
Veterinarian medicine manufacturing companies are increasingly focusing on super-combo parasiticide in the animal medicine market. The parasiticides are medicines that help control parasites before these organisms cause serious harm to animals. The increased efficiency and effectiveness of these products induce companies to invest in and manufacture combination parasiticides. Companies in the animal medicine market are increasingly offering combination parasiticides which help better combat the common intestinal, heartworms, and fleas.
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Opportunities And Recommendations For The Animal Medicine Market
Opportunities – The top opportunities in the animal medicine market segmented by type will arise in the feed additives segment. The top opportunities in the animal medicine market segmented by type of prescription will arise in the OTC segment. The top opportunities in the animal medicine market segmented by route of administration will arise in the others segment. The top opportunities in the veterinary pharmaceuticals market by type will arise in veterinary vaccines market. The top opportunities in the feed additives market by type will arise in medical feed additives market. The animal medicine market size will gain the most in USA.
Recommendations – The Business Research Company recommends the animal medicine market companies should focus on strategic collaborations and partnerships and chewable tablets, focus on expanding in emerging markets and competitive pricing, increase visibility through business websites and listing websites, leverage technology to maximize reach, focus on increasing awareness and collaborating with vet hospitals.
Major Players And Regions Of The Animal Medicine Market
Major players in the animal medicine market are Zoetis, Inc., Boehringer Ingelheim GmbH, Merck & Co., Inc., Elanco Animal Health Incorporated, Ceva Santé Animale.
The Animal Medicine Market Report 2022 – Opportunities And Strategies – Global Forecast To 2030 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the animal medicine market.
Animal Medicine Market Segmentation By The Business Research Company
1) By Type: Veterinary Pharmaceuticals (Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Others – Veterinary Pharmaceuticals), Feed Additives (Medical Feed Additives, Nutritional Feed Additives)
2) By Type of Animal: Poultry, Cattle (Dairy And Meat Purposes), Dogs And Cats, Other Companion Animals, Other Farm Animals
3) By Type of Prescription: OTC, Prescription
4) By Route of Administration: Oral, Intravenous, Subcutaneous, Others
5) By Distribution Channel: Veterinary Services, Online, Others
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