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Veterinary Medicine Market Demand, Report 2023-2028

Veterinary Medicine Market

Global Veterinary Medicine Market Overview:

The latest report by IMARC Group, titled “Veterinary Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global veterinary medicine market demand. The report also includes competitor and regional analysis, and contemporary advancements in the marketThe global veterinary medicine market size reached US$ 33.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028. Veterinary medicine is used to treat various medical conditions in animals. It includes drugs such as anti-infective drugs and parasiticides, which are administered orally in animals. It also includes vaccines, which are used to build immunity in animals against various infectious diseases. Veterinary medicine also consists of medicated feed additives, which are mixed with animal feed to provide pharmaceutical effects on animals. It is given to various animals, including companion animals, such as dogs and cats and livestock animals, including cattle, pigs, and poultry. The medical conditions in animals that are treated using veterinary medicine include pain and inflammation associated with osteoarthritis, hookworm, whipworm, infections, and others.

The outbreak of COVID 19 pandemic has impacted all the sectors, including veterinary medicine. The emergence of unfavorable conditions and lack of awareness affected the market growth. The livestock market was affected too. The has been a shortage of animal products in the market due to mobility restrictions. Veterinary doctors across the globe limited animal patient care to provide aid to acutely ill animals and emergencies. The overall impact of the COVID 19 pandemic on the veterinary medicine market was negative due to fall in veterinary visits and changes in animal healthcare approaches.

Global Veterinary Medicine Market Growth:

The global market is majorly driven by an increasing number of pet owners. In line with this, the rising pet humanization trend  is significantly contributing to the market across the globe. Furthermore, the growing prevalence of various medical conditions in animals is positively influencing the demand for veterinary medicine. Apart from this, the widespread demand for livestock products and the increasing animal healthcare expenditure are catalyzing the market growth. Moreover, the growing awareness regarding animal welfare is offering lucrative growth opportunities for the market players. Additionally, the numerous activities conducted by NGOs and governments of various countries to promote animal welfare are creating a positive outlook for the market. Other factors, including the inflating disposable incomes of the consumers, the increasing cases of zoonotic and chronic diseases, and the rising consumption of meat, are also providing an impetus to the market worldwide.

Global Veterinary Medicine Market 2023-2028 Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

Breakup by Product:

Breakup by Animal Type:

Breakup by Route of Administration:

Breakup by Distribution Channel:

 Breakup By Region:

Key Highlights of the Report:

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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