REPORT HIGHLIGHT
The global Veterinary Medicine market was valued at USD 29.8 billion in 2020, growing with 7.3% CAGR during the forecast period, 2021-2027.
Veterinary medicine such as drugs, vaccines, anti-infective drugs, and parasiticides are used to treat animals under medical conditions. Vaccines are used to build immunity in animals against infectious conditions such as parainfluenza 3-respiratory syncytial and equine influenza (EIV). In addition, it also includes medicated feed additives, mixed with animal feed to provide pharmaceutical effects in animals. Veterinary medicine is used in various types of animals including companion animals such as cats and dogs and livestock animals such as cattle, pigs, and poultry. Livestock animals business growing worldwide which is expected to boost the demand for veterinary medicines.
The veterinary medicine market is estimated to grow at a significant growth rate in the next few years, owing to its rising population of livestock animals such as pigs, cattle, and others. According to the USDA, there were around 103.0 million cattle and 32.1 million beef cows in the U.S. as of a report in July 2020. This number is projected to increase in the coming few years. Moreover, the rising prevalence of various medical conditions in animals and the increase in demand for livestock products also boosting the growth of the veterinary medicine market. The growing number of pet animals such as dogs, cats coupled with growing awareness about their health is projected to drive the market growth.
The growing trend of companion animals is also expected to positively impact market growth. As per the American Pet Products Association (APPA), the overall spending in the U.S. pet industry increased to USD 95.7 billion in 2019 from 90.5 billion. In 2020, in the U.S. around 67.0% of households owned a pet, which is equal to approximately 84.9 million homes. Further, the growing consumption of meat is spurring the demand for mandatory vaccination for animals, which in turn is resulting in the growth of the market for veterinary medicine.
North America dominated the market by holding over one-third of the market share in the global market. The growing population of pet animals, livestock animals is boosting regional growth. In addition, growing meat, and beef consumption is also augmenting the growth of veterinary medicines. In the Asia Pacific, the growing trend of companion animals is expected to gain momentum over the forecast period.
The Veterinary Medicine market is highly competitive in nature. Key players in the industry indulge in strategic initiatives such as mergers & acquisitions, partnerships, and new product development to remain competitive in the market. For example, in 2020, Merck Animal Health acquired IdentiGEN, a prominent player in DNA-based animal traceability solutions for Livestock. This collaboration was aimed to combine each species' unique DNA and data analytics with IdentiGEN's technology in order to provide an evidence-based animal traceability solution (termed as DNA TraceBack).
Key features of the study:
- This proposed research study on Veterinary Medicine market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Veterinary Medicine market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Veterinary Medicine market
- Impact of COVID-19 on Veterinary Medicine market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Veterinary Medicine market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Veterinary Medicine market, we have also included competitive landscape and key innovator analysis for the Veterinary Medicine market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Veterinary Medicine market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Veterinary Medicine market on global as well as regional level.
- The global Veterinary Medicine market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL VETERINARY MEDICINE MARKET KEY PLAYERS
- Ceva Sante Animale
- Merck Animal Health
- Vetoquinol S.A.
- Boehringer Ingelheim GmbH
- Elanco
- Zoetis
- Nutreco N.V.
- Biogenesis Bago
- Indian Immunologicals Ltd
- Virbac
- Kindred Biosciences, Inc.
- Phibro Animal Health
- Neogen Corporation
- Hester Biosciences
GLOBAL VETERINARY MEDICINE MARKET, BY ANIMAL TYPE
- Companion Animals
- Livestock Animals
GLOBAL VETERINARY MEDICINE MARKET, BY PRODUCT
- Pharmaceuticals
- Biologics
- Vaccine
- Others
- Medicated Feed Additives
GLOBAL VETERINARY MEDICINE MARKET, BY END USER
- Veterinary Hospitals
- In-house Testing
- Reference Laboratories
- Others
GLOBAL VETERINARY MEDICINE MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
Table of Contents
1. Veterinary Medicine Market Overview
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Market Snippet by Animal Type
- 2.1.2. Market Snippet by Product
- 2.1.3. Market Snippet by End User
- 2.1.4. Market Snippet by Region
- 2.2. Competitive Insights
3. Veterinary Medicine Key Market Trends
- 3.1. Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Future Trends
4. Veterinary Medicine Industry Study
- 4.1. Porter's Five Forces Analysis
- 4.2. Marketing Strategy Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. Veterinary Medicine Market: COVID-19 Impact Analysis
- 5.1. Pre-COVID-19 Impact Analysis
- 5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments
6. Veterinary Medicine Market Landscape
- 6.1. Market Share Analysis, 2019
- 6.2. Key Innovators Analysis
- 6.3. Breakdown Data, by Key Manufacturer
- 6.3.1. Established Players' Analysis
- 6.3.2. Emerging Players' Analysis
7. Veterinary Medicine Market - By Animal Type
- 7.1. Overview
- 7.1.1. Segment Share Analysis, By Animal Type, 2020 & 2027 (%)
- 7.2. Companion Animals
- 7.3. Livestock Animals
8. Veterinary Medicine Market - By Product
- 8.1. Overview
- 8.1.1. Segment Share Analysis, By Product, 2020 & 2027 (%)
- 8.2. Pharmaceuticals
- 8.3. Biologics
- 8.4. Vaccine
- 8.5. Others
- 8.6. Medicated Feed Additives
9. Veterinary Medicine Market - By End User
- 9.1. Overview
- 9.1.1. Segment Share Analysis, By End User, 2020 & 2027 (%)
- 9.2. Veterinary Hospitals
- 9.3. In-house Testing
- 9.4. Reference Laboratories
- 9.5. Others
10. Veterinary Medicine Market- By Geography
- 10.1. Introduction
- 10.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
- 10.2. North America
- 10.2.1. Overview
- 10.2.2. Key Manufacturers in North America
- 10.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.2.4. North America Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.2.5. North America Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.2.6. North America Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.2.7. U.S.
- 10.2.7.1. Overview
- 10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.2.7.3. U.S. Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.2.7.4. U.S. Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.2.7.5. U.S. Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.2.8. Canada
- 10.2.8.1. Overview
- 10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.2.8.3. Canada Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.2.8.4. Canada Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.2.8.5. Canada Market Size and Forecast, By End User, 2016 - 2027, (US$ Million)
- 10.3. Europe
- 10.3.1. Overview
- 10.3.2. Key Manufacturers in Europe
- 10.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.3.4. Europe Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.3.5. Europe Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.3.6. Europe Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.3.7. Germany
- 10.3.7.1. Overview
- 10.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.7.3. Germany Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.3.7.4. Germany Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.3.7.5. Germany Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.3.8. Italy
- 10.3.8.1. Overview
- 10.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.8.3. Italy Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.3.8.4. Italy Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.3.8.5. Italy Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.3.9. United Kingdom
- 10.3.9.1. Overview
- 10.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.9.3. United Kingdom Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.3.9.4. United Kingdom Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.3.9.5. United Kingdom Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.3.10. France
- 10.3.10.1. Overview
- 10.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.10.3. France Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.3.10.4. France Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.3.10.5. France Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.3.11. Rest of Europe
- 10.3.11.1. Overview
- 10.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.11.3. Rest of the Europe Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.3.11.4. Rest of the Europe Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.3.11.5. Rest of the Europe Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.4. Asia Pacific (APAC)
- 10.4.1. Overview
- 10.4.2. Key Manufacturers in Asia Pacific
- 10.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.4.4. Asia Pacific Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.4.5. Asia Pacific Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.4.6. Asia Pacific Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.4.7. India
- 10.4.7.1. Overview
- 10.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.7.3. India Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.4.7.4. India Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.4.7.5. India Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.4.8. China
- 10.4.8.1. Overview
- 10.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.8.3. China Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.4.8.4. China Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.4.8.5. China Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.4.9. Japan
- 10.4.9.1. Overview
- 10.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.9.3. Japan Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.4.9.4. Japan Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.4.9.5. Japan Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.4.10. South Korea
- 10.4.10.1. Overview
- 10.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.10.3. South Korea Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.4.10.4. South Korea Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.4.10.5. South Korea Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.4.11. Rest of APAC
- 10.4.11.1. Overview
- 10.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.11.3. Rest of APAC Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.4.11.4. Rest of APAC Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.4.11.5. Rest of APAC Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.5. Latin America
- 10.5.1. Overview
- 10.5.2. Key Manufacturers in Latin America
- 10.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.5.4. Latin America Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.5.5. Latin America Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.5.6. Latin America Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.5.7. Brazil
- 10.5.7.1. Overview
- 10.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.7.3. Brazil Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.5.7.4. Brazil Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.5.7.5. Brazil Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.5.8. Mexico
- 10.5.8.1. Overview
- 10.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.8.3. Mexico Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.5.8.4. Mexico Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.5.8.5. Mexico Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.5.9. Argentina
- 10.5.9.1. Overview
- 10.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.9.3. Argentina Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.5.9.4. Argentina Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.5.9.5. Argentina Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.5.10. Rest of LATAM
- 10.5.10.1. Overview
- 10.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.10.3. Rest of LATAM Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.5.10.4. Rest of LATAM Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.5.10.5. Rest of LATAM Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.6. Middle East and Africa
- 10.6.1. Overview
- 10.6.2. Key Manufacturers in Middle East and Africa
- 10.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.6.4. Middle East and Africa Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.6.5. Middle East and Africa Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.6.6. Middle East and Africa Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.6.7. Saudi Arabia
- 10.6.7.1. Overview
- 10.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.6.7.3. Saudi Arabia Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.6.7.4. Saudi Arabia Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.6.7.5. Saudi Arabia Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
- 10.6.8. United Arab Emirates
- 10.6.8.1. Overview
- 10.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.6.8.3. United Arab Emirates Market Size and Forecast, By Animal Type, 2016 - 2027 (US$ Million)
- 10.6.8.4. United Arab Emirates Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
- 10.6.8.5. United Arab Emirates Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11. Key Vendor Analysis
- 11.1. Competitive Dashboard
- 11.2. Company Profiles
- 11.2.1. Ceva Sante Animale
- 11.2.2. Merck Animal Health
- 11.2.3. Vetoquinol S.A.
- 11.2.4. Boehringer Ingelheim GmbH
- 11.2.5. Elanco
- 11.2.6. Zoetis
- 11.2.7. Nutreco N.V.
- 11.2.8. Biogenesis Bago
- 11.2.9. Indian Immunologicals Ltd
- 11.2.10. Virbac
- 11.2.11. Kindred Biosciences, Inc.
- 11.2.12. Phibro Animal Health
- 11.2.13. Neogen Corporation
- 11.2.14. Hester Biosciences
12. 360 Degree AnalystView
13. Appendix
- 13.1. Research Methodology
- 13.2. References
- 13.3. Abbreviations
- 13.4. Disclaimer
- 13.5. Contact Us