The Business Research Company’s Animal Medicine Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The global animal medicine market expected to reach a value of nearly $54.32 billion by 2022, significantly growing at a CAGR of 12.6% during the forecast period. The growth in the animal medicine market is due to emerging markets growth, increased pet spending, increased pet ownership by gen X and Y adults.
The animal medicine market consists of sales of animal medicine and related services by entities (organizations, sole traders and partnerships) that produce animal medicine to treat animal diseases. This industry includes establishments that produce veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals.
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Veterinary pharmaceutical producers have started using Stem Cell Therapy as an animal medicine due to its excellent capabilities of healing arthritis or animal injury. Stem Cell Therapy is a process of injecting stem cell into the body of the animal to replace the damaged cells of the body, are the major trends witnessed in the global animal medicine market.
The animal medicine market is segmented into
- Feed Additives Veterinary Vaccines,
- Veterinary Antibiotics,
- Veterinary Parasiticides,
- Others – Veterinary Pharmaceuticals
The present study exhibits the trends and market dynamics of the animal medicine market in major countries – USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world. The report also includes the study of the current issues with consumers and various future opportunities for the market.
Some of the major key players involved in the animal medicine market are Zoetis Inc., Boehringer Ingelheim GmbH, Bayer AG., Elanco Animal Health (Eli Lilly and Company), Ceva Santé Animale.
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