Strategies For Global Animal Medicine Market Players In 2022-2026 Market Forecast Period
June 24, 2022
The Business Research Company’s Animal Medicine Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, June 24, 2022 /EINPresswire.com/ -- According to ‘Animal Medicine Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the animal medicine market size is expected to grow from $41.09 billion in 2021 to $45.33 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The global animal medicine market size is expected to grow to $62.95 billion in 2026 at a CAGR of 8.6%. The increasing penetration of pet insurance is expected to drive the animal medicine market.
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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. The animal medicine industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals and establishments that manufacture medical feed additives and nutritional feed additives.
Global Animal Medicine Market Trends
Nanotechnology is increasingly gaining traction in the animal medicine market as a substitute for veterinary antibiotics to tackle antibiotic resistance. Nanotechnology is the study of controlling matter on an atomic and molecular scale. Nanotechnology in the animal medicine industry is used to improve diagnosis, treatment, animal growth promotion, and production. Nanoparticles are mainly used as alternative antimicrobial agents to reduce the use of antibiotics and improve the detection of pathogenic bacteria. They are also used as drug delivery agents for new drugs and vaccines candidates to improve their characteristics and performance, and to reduce drug resistance in animal organisms.
Global Animal Medicine Market Segments
The global animal medicine market is segmented:
By Type: Veterinary Pharmaceuticals, Feed Additives
By Type of Animal: Livestock, Companion Animals
By End-Use: Veterinary Hospitals, Pharmacies and Drug Stores, Veterinary Clinics
Subsegments Covered: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Other Veterinary Pharmaceuticals, Medical Feed Additives, Nutritional Feed Additives
By Geography: The global animal medicine market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
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Animal Medicine Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides animal medicine global market overview, analyzes and forecasts market size and growth for the animal medicine global market, animal medicine global market share, animal medicine global market segments and geographies, animal medicine global market trends, animal medicine global market players, animal medicine market leading competitor revenues, profiles and market shares. The animal medicine market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Animal Medicine Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co, Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC – Biomune, Phirbo Animal Health, Dechra Pharmaceuticals, Virbac Group, and Vetoquinol S.A.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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