The Top Ten Competitors In The Veterinary Pharmaceuticals Industry Take Up Over 70% Of The Market

LONDON, May 26, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the veterinary pharmaceuticals market, the animal pharmaceuticals market is concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 71% of the total market in 2020. Major players in the market include Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co. Inc., Elanco Animal Health Incorporated, Ceva Santé Animale, Virbac Group, Dechra Pharmaceuticals PLC, Phibro Animal Health Corporation, Vetoquinol S.A., and Kyoritsuseiyaku Corporation.

The global veterinary pharmaceuticals market reached a value of nearly $30,862.3 million in 2020, having increased at a compound annual growth rate (CAGR) of 7.4% since 2015. The market is expected to grow from $30,862.3 million in 2020 to $63,786.5 million in 2025 at a rate of 15.6%. The global veterinary drugs market size is then expected to grow at a CAGR of 14.6% from 2025 and reach $125,844.5 million in 2030.

The COVID-19 pandemic impacted the supply side of the veterinary services market by impacting leading global veterinary pharmaceuticals companies, decreasing the launch in new products, higher safety measures implemented, and revocation of events, conferences, and expos. The COVID-19 crisis impacted the demand side of the veterinary pharmaceuticals market by stockpiling veterinary pharmaceuticals, purchasing veterinary pharmaceuticals online, increasing pet ownership and adoption, and limiting emergency services offered by veterinarians.

The Business Research Company’s report titled 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 covers major veterinary pharmaceuticals companies, veterinary pharmaceuticals market share by company, veterinary pharmaceuticals manufacturers, veterinary pharmaceuticals market size, and veterinary pharmaceuticals market forecasts. The report also covers the global veterinary pharmaceuticals market and its segments.

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The increasing awareness regarding animal health is expected to drive the market for the veterinary pharmaceuticals market in the forecast period. It is crucial to monitor the health of the animal to prevent animal disease outbreaks and help in the normal functioning of an organism as well as normal behavior. Many programs and campaigns are being held to support the animal health market. For instance, the Government of Ireland launched the Animal Health Awareness Week on 23rd November 2020, while MSD Animal Health launched “Protect Our Future Too” campaign (#ProtectOurFutureToo) across 30+ countries in Europe, Russia, North Africa, and the Middle East to raise awareness of the risks to our household pets caused by seasonal changes, such as warmer months in autumn and winter as well as higher temperatures in general. These types of animal health awareness program will indirect drive the market for veterinary pharmaceuticals.

North America is the largest region in the veterinary pharmaceuticals market, accounting for 44.9% of the total in 2020. It is followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the veterinary medicine market will be Africa and South America where growth will be at CAGRs of 24.1% and 21.2% respectively during 2020-2025. These will be followed by Asia Pacific and Eastern Europe, where the markets are expected to register CAGRs of 20.3% and 20.2% respectively during 2020-2025.

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 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports By The Business Research Company:

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

Veterinary Healthcare Market – By Type (Veterinary Services, Veterinary Medical Equipment And Animal Medicine), And By Region, Opportunities And Strategies – Global Forecast To 2023

Companion Animal Veterinary Vaccines Global Market Report 2021: COVID 19 Growth And Change to 2030

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