NEW YORK, December 18, 2017 /PRNewswire/ --
MarketResearch.biz announces publication of its recently generated research report titled, "Global Veterinary Therapeutics Market By Type (Therapeutics Drugs, Therapeutics Vaccines, Feed Additives Therapeutics), By End User (Hospitals, Veterinary Clinics, Drugs Stores) And Region - Global Forecast To 2026", which offers a holistic view of the global veterinary therapeutics market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 154,050.2 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
Veterinary therapeutic is medical science deals with the protection of health, alleviation, prevention, and remedy of disease and injury in both companion as well as wild animals. The global veterinary therapeutics market has witnessed significant revenue growth in the past few years owing mainly to rising awareness regarding health and well-being of livestock as well as companion animals.
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Global Veterinary Therapeutics Market: Market Dynamics
Major factors driving growth of the global veterinary therapeutics market are increasing awareness of animal well-being, increasing ownership of companion animals, constant development of innovative drugs, and increasing clinical pet research initiatives and programs resulting in launch of wide variety of vaccines and medicines in the market.
Moreover, government initiatives for importing animal feeds and easy availability of antibiotics are additional factors promoting growth of the global veterinary therapeutics market. Rise in demand for dairy products and naturally raised livestock such as poultry and swine is resulting in expansion of continuous livestock reproduction, which in turn is anticipated to boost demand for production of intermediary products such as animal feed and feed additives for livestock.
Availability of natural and herbal medicines as alternatives for therapeutic veterinary drugs are some key factors hampering growth of the global veterinary therapeutics market. Additionally, stringent regulations for vaccines and a high cost of animal therapies are other factors expected to hamper growth of the global veterinary therapeutics market over the forecast period.
Cost of medicines, vaccines, and feed additives are higher as compared to natural and herbal drugs available in the market. Development of cost-effective products is expected to create significant opportunities for players in the global veterinary therapeutics market.
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Global Veterinary Therapeutics Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global veterinary therapeutics market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global veterinary therapeutics market is expected to expand at a moderate CAGR of 6.0% during the forecast period.
Global Veterinary Therapeutics Market: Segmental Snapshot
The market report has been segmented on the basis of type, end user, and region. The type segment includes therapeutic drugs, therapeutic vaccines, and feed additive therapeutic. End-user segment includes hospitals, veterinary clinics, and drug stores. The regions covered in the analysis are The Americas, Europe, Asia Pacific, South America, and Middle East & Africa.
According to veterinary therapeutics market infographics published on MarketResearch.Biz,
By type: Therapeutic drugs segment is estimated to register a CAGR of over 6.2%, thereby accounting for highest revenue share in the application segment.
By end-user: Hospitals segment is estimated to account for highest revenue share among the product type segments, registering a CAGR of over 6.3% over the forecast period.
By region: The market in North America accounted for highest revenue share in the global veterinary therapeutics market in 2016, and is expected to record highest CAGR of over 5.9% between 2017 and 2026.
Global Veterinary Therapeutics Market: Competitive Analysis
The research report on the global veterinary therapeutics market includes profiles of some of the major companies such as Bayer AG, Boehringer Ingelheim GmbH, Ceva, Inc., Dechra Pharmaceuticals PLC, Vetoquinol SA, Zoetis Inc., Virbac SA, Eli Lilly and Company, Merck Co. Inc., Pfizer Inc., Catalent Inc., Akorn Inc., Aratana Therapeutics, Inc., Heska Corporation, Abaxis, Inc., IDEXX Laboratories, Inc., Perrigo Company plc., NEOGEN CORPORATION, Colorado Serum Company, Piedmont Animal, Health LLC, and Addison Biological Lab, Inc.
The Global Veterinary Therapeutics Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global veterinary therapeutics market for 2017-2026.
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