Abstract
Summary
Veterinary Medicine Market Forecast to 2030
Market Overview
The veterinary medicine market is projected to register a healthy CAGR of 5.57% by 2030. Developing persistent diseases, expanding paces of pet proprietorship, and expanded meat and the extension of the veterinary medicine industry may be energized by endeavors to advance animal cultivation and an expansion in pet reception are the key market drivers improving the Veterinary Medicine market development.
The market improvement is anticipated to be supported by the rising reception of pet medical coverage to pay for veterinary administrations in different industrialized countries. Sweden, the Unified Realm, and Canada have flourishing pet healthcare coverage markets. There has been a sharp ascent in the boundless utilization of pet healthcare coverage in China. Two huge elements adding to the acknowledgment of pet medical care protection are the developing public comprehension of pet medical problems and the rising ubiquity of pets.
Market Segmentation
The market portions of Veterinary Medicine, considering the course of administration, incorporate oral and parental. The Veterinary Medicine market division, by Animal Type, incorporates Tamed and Sidekick animals.
Based on Product, the market portions of Veterinary Medicine incorporate Medications and Immunizations. In view of the Distribution Channel, the market of the veterinary medicine division incorporates Veterinary Medical clinics and Centers, Retail locations, and Online Drug stores.
Regional Analysis
The North American Veterinary Medicine market represented USD 12.48 billion in 2021 and is supposed to display a huge CAGR development during the review time frame.
The Asia Pacific Veterinary Medicine market is expected to increment considerably during the period. Market extension in this space has been helped by expanded friend creature reception and rising creature wellbeing concerns. The Asia Pacific region's market is likewise expected to be driven by rising veterinary and creature medical care costs and a sizable cow populace. Besides, the China market of veterinary medicine held the biggest market share, and the Indian market of veterinary medicine was the quickest developing market in the Asia-Pacific region.
Because of the inescapable presence of huge industry players and the Region's advanced medical care framework, Europe is expected to rule the market of veterinary medicine over the projection period. Moreover, strong unofficial laws and extending measures to advance creature well-being will additionally speed up this Region's market improvement rate.
Significant market organizations are putting critical cash in Research and development to extend their item contributions, which will fuel further market development in Veterinary Medicine. With huge industry changes, including new item deliveries, legally binding arrangements, consolidations, and acquisitions, expanded speculations, and cooperation with different associations, market members are likewise attempted different vital exercises to extend their presence.
Producing locally to reduce functional expenses is one of the primary business strategies utilized by the Veterinary Medicine industry to serve clients and increment the market area. The Veterinary Medicine industry has as of late given medicine the absolute most significant benefits.
Major Players
Key Companies in the Veterinary Medicine market are Ceva, Boehringer Ingelheim, Dechra Pharmaceuticals plc, Bayer AG, Chanelle Pharma Group, Elanco, Norbrook Laboratories, Merck Animal Health, Vetiqyubik S.A., and Zoetis.
Table of Contents
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 SCOPE OF THE STUDY 15
2.2 RESEARCH OBJECTIVE 15
2.3 MARKET STRUCTURE 15
2.4 ASSUMPTIONS & LIMITATIONS 16
3 RESEARCH METHODOLOGY
3.1 DATA MINING 17
3.2 SECONDARY RESEARCH 18
3.3 PRIMARY RESEARCH 19
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 20
3.5 FORECASTING TECHNIQUES 20
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 22
3.6.1 BOTTOM-UP APPROACH 23
3.6.2 TOP-DOWN APPROACH 23
3.7 DATA TRIANGULATION 24
3.8 VALIDATION 24
4 MARKET DYNAMICS
4.1 OVERVIEW 25
4.2 DRIVERS 26
4.2.1 GROWING RATES OF PET OWNERSHIP 26
4.2.2 RISING ZOONOTIC & CHRONIC DISEASES ANIMALS 26
4.2.3 INCREASING MEAT CONSUMPTION ATTRACTING MANDATORY VACCINATION 26
4.3 RESTRAINT 27
4.3.1 SHORTAGE OF VETERINARIANS 27
4.3.2 STRINGENT REGULATORY GUIDELINES PERTAINING TO VACCINES APPROVAL FOR ANIMALS 27
4.4 OPPORTUNITY 28
4.4.1 INCREASING INVESTMENT IN VETERINARY HOSPITALS 28
5 MARKET FACTOR ANALYSIS
5.1 VALUE CHAIN ANALYSIS 29
5.1.1 R&D 30
5.1.2 MANUFACTURING 30
5.1.3 DISTRIBUTION & SALES 30
5.1.4 POST-SALES REVIEW/MONITORING 30
5.2 PORTER'S FIVE FORCES MODEL 31
5.2.1 THREAT OF NEW ENTRANTS 31
5.2.2 BARGAINING POWER OF SUPPLIERS 32
5.2.3 THREAT OF SUBSTITUTES 32
5.2.4 BARGAINING POWER OF BUYERS 32
5.2.5 INTENSITY OF RIVALRY 32
5.3 IMPACT OF COVID-19 32
5.3.1 OVERVIEW 32
5.3.2 IMPACT ON MEAT CONSUMPTION 33
5.3.3 IMPACT ON VETERINARY MEDICINE MARKET 33
6 GLOBAL VETERINARY MEDICINE MARKET, BY ANIMAL TYPE
6.1 OVERVIEW 34
6.2 DOMESTICATED 35
6.3 COMPANION 35
7 GLOBAL VETERINARY MEDICINE MARKET, BY PRODUCT
7.1 OVERVIEW 37
7.2 DRUG 38
7.3 VACCINES 39
8 GLOBAL VETERINARY MEDICINE MARKET, BY ROUTE OF ADMINISTRATION
8.1 OVERVIEW 40
8.2 ORAL 41
8.3 PARENTERAL 41
8.4 OTHERS 42
9 GLOBAL VETERINARY MEDICINE MARKET, BY DISTRIBUTION CHANNEL
9.1 OVERVIEW 43
9.2 VETERINARY HOSPITALS & CLINICS 44
9.3 RETAIL STORES 44
9.4 ONLINE PHARMACIES 45
10 GLOBAL VETERINARY MEDICINE MARKET, BY REGION
10.1 OVERVIEW 46
10.2 AMERICAS 48
10.2.1 NORTH AMERICA 50
- 10.2.1.1 US 52
- 10.2.1.2 CANADA 53
10.2.2 LATIN AMERICA 54
10.3 EUROPE 56
10.3.1 WESTERN EUROPE 58
- 10.3.1.1 GERMANY 60
- 10.3.1.2 UK 61
- 10.3.1.3 FRANCE 62
- 10.3.1.4 ITALY 63
- 10.3.1.5 SPAIN 64
- 10.3.1.6 REST OF WESTERN EUROPE 65
10.3.2 EASTERN EUROPE 67
10.4 ASIA-PACIFIC 69
10.4.1 CHINA 71
10.4.2 JAPAN 72
10.4.3 INDIA 73
10.4.4 AUSTRALIA 74
10.4.5 SOUTH KOREA 75
10.4.6 REST OF ASIA-PACIFIC 76
10.5 MIDDLE EAST & AFRICA 78
10.5.1 SAUDI ARABIA 80
10.5.2 UNITED ARAB EMIRATES 81
10.5.3 OMAN 83
10.5.4 KUWAIT 84
10.5.5 QATAR 85
10.5.6 REST OF THE MIDDLE EAST & AFRICA 86
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW 88
11.2 COMPETITIVE BENCHMARKING 89
11.3 GLOBAL VETERINARY MEDICINE MARKET: COMPANY RANKING 90
11.4 LEADING PLAYERS IN TERMS OF NUMBER OF DEVELOPMENTS 91
11.5 MAJOR GROWTH STRATEGY IN THE GLOBAL VETERINARY MEDICINE MARKET 91
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES 92
11.6.1 NEW PRODUCT LAUNCHES 92
11.6.2 PARTNERSHIPS/AGREEMENTS 92
11.6.3 EXPANSIONS 93
11.6.4 ACQUISITIONS 93
11.7 FINANCIAL MATRIX 94
12 COMPANY PROFILES
12.1 BOEHRINGER INGELHEIM INTERNATIONAL GMBH 96
12.1.1 COMPANY OVERVIEW 96
12.1.2 FINANCIAL OVERVIEW 97
12.1.3 PRODUCTS/SERVICES OFFERED 97
12.1.4 KEY DEVELOPMENTS 99
12.1.5 SWOT ANALYSIS 99
12.1.6 KEY STRATEGIES 100
12.2 CEVA 101
12.2.1 COMPANY OVERVIEW 101
12.2.2 FINANCIAL OVERVIEW 101
12.2.3 PRODUCTS/SERVICES OFFERED 102
12.2.4 KEY DEVELOPMENTS 102
12.2.5 SWOT ANALYSIS 103
12.2.6 KEY STRATEGIES 103
12.3 ZOETIS 104
12.3.1 COMPANY OVERVIEW 104
12.3.2 FINANCIAL OVERVIEW 104
12.3.3 PRODUCTS/SERVICES OFFERED 105
12.3.4 KEY DEVELOPMENTS 107
12.3.5 SWOT ANALYSIS 107
12.3.6 KEY STRATEGIES 107
12.4 MERCK ANIMAL HEALTH 108
12.4.1 COMPANY OVERVIEW 108
12.4.2 FINANCIAL OVERVIEW 109
12.4.3 PRODUCTS/SERVICES OFFERED 110
12.4.4 KEY DEVELOPMENTS 111
12.4.5 SWOT ANALYSIS 112
12.4.6 KEY STRATEGIES 112
12.5 CHANELLE PHARMA GROUP 113
12.5.1 COMPANY OVERVIEW 113
12.5.2 FINANCIAL OVERVIEW 113
12.5.3 PRODUCTS/SERVICES OFFERED 113
12.5.4 KEY DEVELOPMENTS 115
12.5.5 SWOT ANALYSIS 115
12.5.6 KEY STRATEGIES 115
12.6 ELANCO 116
12.6.1 COMPANY OVERVIEW 116
12.6.2 FINANCIAL OVERVIEW 117
12.6.3 PRODUCTS/SERVICES OFFERED 118
12.6.4 KEY DEVELOPMENTS 119
12.6.5 SWOT ANALYSIS 120
12.6.6 KEY STRATEGIES 120
12.7 DECHRA PHARMACEUTICALS PLC 121
12.7.1 COMPANY OVERVIEW 121
12.7.2 FINANCIAL OVERVIEW 121
12.7.3 PRODUCTS/SERVICES OFFERED 122
12.7.4 KEY DEVELOPMENTS 123
12.7.5 SWOT ANALYSIS 123
12.7.6 KEY STRATEGIES 123
12.8 BAYER AG 124
12.8.1 COMPANY OVERVIEW 124
12.8.2 FINANCIAL OVERVIEW 124
12.8.3 PRODUCTS/SERVICES OFFERED 125
12.8.4 KEY DEVELOPMENTS 126
12.8.5 SWOT ANALYSIS 127
12.8.6 KEY STRATEGIES 127
12.9 VETOQUINOL SA 128
12.9.1 COMPANY OVERVIEW 128
12.9.2 FINANCIAL OVERVIEW 128
12.9.3 PRODUCTS/SERVICES OFFERED 129
12.9.4 KEY DEVELOPMENTS 131
12.9.5 SWOT ANALYSIS 132
12.9.6 KEY STRATEGIES 132
12.10 NORBROOK LABORATORIES 133
12.10.1 COMPANY OVERVIEW 133
12.10.2 FINANCIAL OVERVIEW 133
12.10.3 PRODUCTS/SERVICES OFFERED 133
12.10.4 KEY DEVELOPMENTS 135
12.10.5 SWOT ANALYSIS 135
12.10.6 KEY STRATEGIES 136
13 APPENDIX
13.1 REFERENCES 137
13.2 RELATED REPORTS 138