Allied Market Research

Veterinary Medicine Market: Global Opportunity and Industry Forecast, 2017-2023

Due to the rise in prevalence of infectious diseases among animals & large number of clinical trials and innovative R&D approaches drives the Veterinary Medicine Market


Portland, OR -- (SBWIRE) -- 09/18/2017 -- Veterinary Medicine deals with the treatment of animals that are suffering from infectious diseases, injuries, and other ailments. These medicines are used for all class of animals (wild animals and domestic animals).

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The major factors contributing to the growth of the veterinary medicines market include rise in prevalence of infectious diseases among animals, increase in drug preferences by pet and poultry farm owners, and cost-effectiveness of these drugs. Moreover, large number of clinical trials and innovative R&D approaches to develop advanced drugs drive the market growth. However, high cost of animal health care and lack of awareness towards animal health in emerging nations restrain the market growth. Technological advancement such as rise in therapeutical applications and balanced quality products provide various opportunities for market growth.

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The veterinary medicine market is segmented into product, dosage form, animal type, end user, and region. On the basis of product, the market is categorized into drug, vaccines, and medicated feed additives. By dosage form, it is classified into oral, parenteral, and topical. According to animal type, it is divided into companion animals and livestock animals. As per end user, it is segmented into veterinary hospitals, veterinary clinics, and pharmacies & drug stores. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.