Veterinary medicine is a branch of medicine that deals with prevention, management, diagnosis, and treatment of disease, disorder, and injury in animals (both companion animals and livestock animals). Moreover, veterinary drugs indirectly benefit human healthcare by restricting the spread of infectious diseases from animals to humans. Therefore, there is an increasing demand for safe and effective veterinary drugs around the world.

Market Dynamics:

Rising incidence of zoonotic diseases, increase in pet ownership, increase in demand for meat and animal-based products, rise in demand for veterinary medicine, and rise in focus on the veterinary healthcare are major factors expected to drive growth of the global veterinary medicine market.

For instance, in September 2022, the Food and Drug Administration (FDA) approved SpectoGard, the first generic spectinomycin sulfate injectable solution for the treatment of bovine respiratory diseases. Moreover, in September 2022, the US FDA approved Simplera Otic Solution, one of the first generic drug products that have a single-dose treatment with a 30-day duration of effect for otitis externa (outer ear infection) in dogs.

Key features of the study:

• This report provides in-depth analysis of the veterinary medicine market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global veterinary medicine market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Ceva, Zoetis, Elanco, Chanelle Pharma Group, and Boehringer Ingelheim International Gmbh, among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global veterinary medicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global veterinary medicine market.

Detailed Segmentation:

• Global Veterinary Medicine Market, By Animal Type:
  • Domesticated
  • Companion
• Global Veterinary Medicine Market, By Product:
  • Drug
  • Vaccines
• Global Veterinary Medicine Market, By Route of Administration:
  • Oral
  • Parental
  • Others
• Global Veterinary Medicine Market, By Distribution Channel:
  • Veterinary Hospitals & Clinics
  • Retail Stores
  • Online Pharmacies
• Global Veterinary Medicine Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Ceva
  • Zoetis
  • Elanco
  • Chanelle Pharma Group
  • Boehringer Ingelheim International Gmbh