Animal Medicine Market Uses Nanotechnology To Tackle Antibiotic Resistance In The Global Animal Medicine Market 2020
LONDON, Oct. 07, 2020 (GLOBE NEWSWIRE) -- (Animal Medicine Companies Included: Zoetis, Inc., Boehringer Ingelheim GmbH, Merck & Co., Elanco Animal Health Inc., Bayer AG)
On other developments in the global animal healthcare market, the rapid increase in pet ownership is driving the demand for easy-to-give veterinary drugs to treat diseases. Rising pet ownership and the rising trend of treating companion animals as family members enable pet owners to provide quality care to their pets, including quality treatment of various diseases, driving the demand for veterinary medical treatment. To cater to the growing demand, veterinary medicines companies have started producing easy-to-give drugs to treat various diseases of companion animals, including feline hypertension, in the form of oral drug solutions.
Chewable tablets are increasingly being used as well to prevent animals from being affected by ticks, worms, fleas, and other parasites. Such tablets are usually soft chew and are available in different flavors, such as beef. Treatments with these tablets are easier to administer than with regular tablets as they can be easily added to regular meals of animals. Many veterinary medicine manufacturers are constantly working towards producing effective and easy-to-give drugs to succeed in the highly consolidated veterinary medicine market.
The Business Research Company’s report titled Animal Medicine Market - Opportunities And Strategies - Global Forecast To 2030 covers major animal medicine companies, animal medicine market share by company, animal medicine manufacturers, animal medicine market size, and animal medicine market forecasts. The report also covers the global animal medicine market and its segments. The animal medicine market is segmented by type of medicine into veterinary pharmaceuticals and feed additives. The veterinary pharmaceuticals market is further segmented by type of pharmaceuticals into veterinary parasiticides, veterinary vaccines, veterinary antibiotics and others, while the feed additives market is further segmented by type of additive into antibiotics, amino acids and antioxidants, vitamins, acidifiers, enzymes and others.
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The animal medicine market size reached a value of nearly $42.47 billion in 2019, having grown at a compound annual growth rate (CAGR) of 4.8% since 2015, and is expected to grow at a CAGR of 6.53% to nearly $54.69 billion by 2023. Also, the market is expected to grow to $62.01 billion in 2025 at a CAGR of 6.48% and to $85.06 billion in 2030 at a CAGR of 6.53%.
The demand for animal medicine increased as people were “panic purchasing” their animal medicine supplies to ensure that their pets are taken care of during lockdowns. The stockpiling of animal medicine by pet owners and farmers has led to an increased demand in the market. In addition to stockpiling animal medicine from physical retail stores, online orders have also gone up. Consumers find it safer to order animal medicine online along with their daily groceries, rather than going outside to physical stores.
Another major point in the veterinary market size is that due to the worldwide lockdown, animal lovers are showing interest in adopting pets who might otherwise be neglected during the pandemic. Additionally, as more and more people are in isolation, the companionship of a pet provides emotional and mental support to many families. In this regard, appeals and social media campaigns have helped increase adoption rates of animals, especially in the US, where animal shelters around the country have seen a significant increase in dog and cat adoptions.
Animal Medicine Market - Opportunities And Strategies - Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, animal medicine market segments and geographies, animal medicine market trends, animal medicine market drivers, animal medicine market restraints, animal medicine market major players, animal medicine market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The 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.
Here Is A List Of Similar Reports By The Business Research Company:
Veterinary Pharmaceuticals Market - By Animal Type (Livestock, Companion Animal), By Type Of Pharmaceutical (Veterinary Parasiticides, Veterinary Vaccines, Veterinary Antibiotics, Others), By Administration Route (Oral, Others), By End Use, And By Region, Opportunities And Strategies – Global Forecast To 2030
Veterinary Antibiotics Global Market Report 2020-30: COVID 19 Impact and Recovery
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Veterinary Services Market - By Type (Animal Hospitals, Veterinary Clinics, Surgical Procedures, Laboratory Services And Pet Food), By Region, Opportunities And Strategies – Global Forecast To 2021
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