The global veterinary pharmaceuticals market is expected to decline from $14.8 billion in 2019 to $13.1 billion in 2020 at a compound annual growth rate (CAGR) of -11.6%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. COVID-19 pandemic is affecting industries across the globe including the animal sector. The restrictions on non-essential medical services coupled with slowed production of veterinary pharmaceuticals due to extended factory closures in various countries, shortage of APIs and other chemicals, and rise in prices of key ingredients are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 7.5% from 2021 and reach $19.7 billion in 2023.
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The veterinary pharmaceuticals market consists of sales of veterinary pharmaceuticals and related services. This industry includes establishments that produce veterinary medicines which are used for pet animals and farm animals (includes vaccines, antibiotics and parasiticides).
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The veterinary pharmaceuticals market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the veterinary pharmaceuticals market are Merck & Co. Inc, Zoetis Inc., Eli Lilly and Company, Bayer AG, Boehringer Ingelheim GmbH, Perrigo Company plc, Virbac SA, Dechra Pharmaceuticals plc, Ceva Sante Animale, Aratana Therapeutics, Inc., Vetoquinol, Ceva Santé Animale, Virbac SA, Pegasus Laboratories, Inc, Provetica AH LLC, Norbrook Laboratories, Ltd, Putney, Inc., Elanco US Inc, Phibro Animal Health Corp., Bimeda Animal Health Ltd., Syndel USA.
The global veterinary pharmaceuticals market is segmented –
1) By Type: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Others.
2) By End User: Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug stores.
3) By Route of Administration: Oral, Others (Parental, Topical).
4) By Animal Type: Companion Animals, Livestock Animals.
5) By Vaccines: Inactivated vaccines, Attenuated vaccines, Recombinant vaccines.
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The veterinary pharmaceuticals market report describes and explains the global veterinary pharmaceuticals market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The veterinary pharmaceuticals report evaluates the market across each region and for the major economies within each region.
The countries covered in the global veterinary pharmaceuticals market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global veterinary pharmaceuticals market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Veterinary Pharmaceuticals Market Characteristics
- Veterinary Pharmaceuticals Market Product Analysis
- Veterinary Pharmaceuticals Market Supply Chain
- Key Mergers And Acquisitions In The Veterinary Pharmaceuticals Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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