Veterinary Medicine Market: Information By Animal Type (Domesticated and Companion), Product (Drugs and Vaccines), Route of Administration (Oral, Parental), Distribution Channel (Veterinary Hospitals & Clinics, Retail Stores, Online Pharmacies) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027
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Global Veterinary Medicine Market is likely to register a CAGR of 5.57% during the forecast period and expected to hit USD 42,985.42 Million by 2027.
Segment Analysis
Global Veterinary Medicine Market has been divided based on Animal Type, Product, Route of Administration, and Distribution Channel.
The market, based on animal type, has been segregated into domesticated and companion. Based on product, the global veterinary medicine market is segmented into drugs and vaccines. The global veterinary medicine market, on the basis of route of administration, has been segmented into oral, parental, and others. On the basis of distribution channel, the market is bifurcated into veterinary hospitals & clinics, retail stores, and online pharmacies.
Regional Analysis
Global Veterinary Medicine Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa. The Americas is likely to hold the largest share of the global veterinary medicine market during the assessment period owing to the rise in companion animal ownership and growing prevalence of animal diseases in the region. The Europe market is expected to register a substantial growth in the market owing to the rising prevalence of diseases, new product approvals, and presence of developed veterinary healthcare infrastructure. Asia-Pacific is estimated to be the fastest-growing regional market due to the growing penetration of the veterinary sector, surge in the number of private veterinary clinics, increasing awareness about animal welfare, and government campaigns for the welfare of pet animals in China, Japan, India, South Korea, and Australia. The veterinary medicine market in Middle East & Africa is expected to witness gradual growth owing to the presence of low-income countries in the region.
Key Players
MRFR recognizes the following companies as the Key Players in the global Veterinary Medicine Market— Boehringer Ingelheim, Ceva, Chanelle Pharma Group, Dechra Pharmaceuticals plc, Elanco, Merck Animal Health, Norbrook Laboratories, Vetoquinol S.A., Bayer AG, and Zoetis.
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