Animal Drugs Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025
Category: #business  By Ronak Bora  Date: 2021-03-24
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Animal Drugs Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Animal Drugs Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global animal drugs market size is slated to witness notable growth in the forthcoming years. Several biotechnology companies are focusing on the development of effective healthcare solutions for companion and livestock animals. These companies are experimenting with new formulations to introduce more advanced drugs and medications for animals.

GMI, predicts that global animal drugs market size will reach a valuation of US$41 billion by 2025, with growing introduction of new, more advanced animal drugs, medications, and treatments.

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Depending upon the type of animals, animal drugs market is classified into companion animals and livestock animals. Livestock animals segment is slated to grow at 4.5% through 2025. This growth will be largely driven by growing adoption of animal drugs to reduce the chances of diseases outbreaks among livestock animals. In many middle-income countries, animal healthcare sector isn’t sufficiently developed and taking keeping livestock animals healthy without the use of animal drugs is difficult.

Different types of animal healthcare products include animal medicated feed additives, vaccines, and drugs. Drugs product segment was estimated to be worth US$17.7 billion in 2018. Regulatory bodies play a critical role in ensuring the safety and efficacy of animal drugs. In the U.S., the Food and Drug Administration (FDA) regulates medical devices, biological equipment, and drugs for both humans and animals. These drugs generally need to be registered by government and regulatory organizations. Manufacturers are heavily investing in R&D to formulate animal medications while meeting regulatory standards.

Animal drugs can be mainly classified as topical, injectable and oral drugs based on the route of administration. Injectable animal drugs industry size was valued at US$13 billion in 2018. Injectable route directly administers the drug into the animal bloodstream. The substance is then absorbed into the body either on a chronic or acute basis. In addition, injection eliminates the need for solute absorption which is why it is considered the most efficient route of animal drug administration.

North America animal drugs industry captured more than 37% revenue share in 2018. Regional manufacturers are focusing on developing drug formulations for the treatment of numerous chronic diseases in animals. The region is also home to a robust healthcare infrastructure including veterinary hospitals, clinics, and drug stores. The U.S. has witnessed a significant rise in pet ownership in recent years. Mounting concerns of pet owners regarding their pet’s health should boost the demand for companion animals drugs.

In terms of the distribution channel, the industry is segmented into ecommerce, veterinary clinics, veterinary hospitals, and pharmacy and drug stores. Veterinary hospitals segment was estimated to be worth US$11.2 billion in 2018. Most pet owners prefer veterinary hospitals for treatment owing to advantages such as early detection of diseases, affordable and preventive healthcare and quality treatment. Moreover, veterinary hospitals offer numerous insurance plans with maximum coverage schemes for enhanced care and treatment of animals. 

Browse full table of contents (TOC) of this report @  https://www.decresearch.com/toc/detail/animal-drugs-market

Partial Chapter of the Table of Content 

Chapter 6. Animal Drugs Market, By Route of Administration

6.1. Animal drugs market share by route of administration, 2018 & 2025

6.2. Oral

6.2.1.  Market size, by region, 2014 – 2025

6.3. Injectable

6.3.1.  Market size, by region, 2014 – 2025

6.4. Topical

6.4.1.  Market size, by region, 2014 – 2025

6.5. Others

6.5.1.  Market size, by region, 2014 – 2025

Chapter 7. Animal Drugs Market, By Distribution Channel

7.1. Animal drugs market share by distribution channel, 2018 & 2025

7.2. Veterinary hospitals

7.2.1.  Market size, by region, 2014 – 2025

7.3. Veterinary clinics

7.3.1.  Market size, by region, 2014 – 2025

7.4. Pharmacy and drug stores

7.4.1.  Market size, by region, 2014 – 2025

7.5. e-commerce

7.5.1.  Market size, by region, 2014 – 2025

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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