The Business Research Company’s Animal Medicine Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, July 6, 2021 /EINPresswire.com/ — North America is the largest region in the global animal medicine market, accounting for 58% of the market in 2020. Asia Pacific is the second largest region, accounting for 18% of the global animal medicine market. Africa is the smallest region in the global animal health market.
The major players covered in the animal medicine industry are Zoetis Inc., Boehringer Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva Santé Animale.
The global animal medicine market is segmented by type into veterinary pharmaceuticals, feed additives, by type of animal into livestock, companion animals, and by end-use into veterinary hospitals, pharmacies and drug stores, veterinary clinics.
Subsegments covered are veterinary vaccines, veterinary antibiotics, veterinary parasiticides, other veterinary pharmaceuticals, medical feed additives, nutritional feed additives.
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Veterinary medicines manufacturers have started increasingly producing combination medicated feed additives to improve efficiencies of the end product. Medicated feed additives in general help maintain animal health and promote growth and feed efficiency. They are usually promoted as an extra nutrient or drug for livestock. Medicated feed additives include vitamins, amino acids, fatty acids, pharmaceuticals, minerals, growth hormones and fungus. Around 70% of companies in the medical feed additives market are introducing new medicated feed additives formed as a result of a combination of two or more medicated feed additives to improve the efficiency of the product. For instance, in November 2018, Zoetis, the world’s largest producer of veterinary medicines, received an approval from the US FDA (Food and Drug Administration) for Cyden and Lincomix, a combination feed additive proposed to be used as a medicated feed additive for poultry.
The global animal medicine market is expected to grow from $32.7 billion in 2020 to $37.88 billion in 2021 at a compound annual growth rate (CAGR) of 15.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The veterinary medicine market size is expected to reach $48.55 billion in 2025 at a CAGR of 6%.
Animal Medicine Market – By Type Of Medicine (Veterinary Pharmaceuticals, Feed Additives), By Type Of Additive (Antibiotics, Amino Acids And Antioxidants, Vitamins, Acidifiers, Enzymes, Others), By Type Of Animal (Cattle (Dairy And Meat Purposes), Poultry, Other Farm Animals, Dogs And Cats, Other Companion Animals), By Drug Type (Branded, Generic), By Type Of Prescription (OTC, Prescription), By Route Of Administration (Oral, Intravenous, Subcutaneous, Others), By Distribution Channel (Vet Services, Online, Others), By Level Of Regulation (Highly Regulated Countries, Loosely Regulated Countries), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides animal medicine market overview, forecast animal medicine market size and growth for the whole market, animal medicine market segments, and geographies, animal medicine market trends, animal medicine market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Veterinary Pharmaceuticals Market – By Animal Type (Livestock, Companion Animal), By Type Of Pharmaceutical (Veterinary Parasiticides, Veterinary Vaccines, Veterinary Antibiotics, Others), By Administration Route (Oral, Others), By End Use, And By Region, Opportunities And Strategies – Global Forecast To 2030
Veterinary Antibiotics Global Market Report 2021: COVID 19 Impact and Recovery to 2030
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Veterinary Healthcare Market – By Type (Veterinary Services, Veterinary Medical Equipment And Animal Medicine), And By Region, Opportunities And Strategies – Global Forecast To 2023
Nutritional Feed Additives Global Market Report 2021: COVID 19 Impact and Recovery to 2030
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