What is Veterinary Medication?
Veterinary Medication is the branch of medicine that deals with the prevention, control, diagnosis, and treatment of disease, disorders, and injuries in animals. It also deals with animal husbandry, breeding, nutrition research, and product development. The scope of veterinary medicine is broad, encompassing all animal species, both domesticated and wild, as well as a wide range of conditions that can affect different species. Veterinary medicine is widely practiced, both with and without professional supervision. Professional care is usually provided by a veterinary physician, but it can also be provided by paraveterinary workers such as veterinary nurses or technicians. Other paraprofessionals with specific specialties, such as animal physiotherapy or dentistry, or species-specific roles, such as farriers, can supplement this.
|Unit||Value (USD Million)|
|Key Companies Profiled||Merck Animal Health (United States), Ceva Sante Animale (France), Vetoquinol S.A. (France), Zoetis (United States), Boehringer Ingelheim GmbH (Germany), Elanco (United States), Nutreco N.V. (Netherlands), Virbac (France), Kindred Biosciences, Inc. (United States) and Biogenesis Bago (Argentina)|
The study covers a detailed analysis segmented by key business segments i.e. by type (Biologics, Pharmaceuticals and Medicated Feed Additives) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Veterinary Medication market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Veterinary Medication market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Merck Animal Health (United States), Ceva Sante Animale (France), Vetoquinol S.A. (France), Zoetis (United States), Boehringer Ingelheim GmbH (Germany), Elanco (United States), Nutreco N.V. (Netherlands), Virbac (France), Kindred Biosciences, Inc. (United States) and Biogenesis Bago (Argentina).
On 25 February 2021, Merck Animal Health, known as MSD Animal Health outside the United States and Canada, is a division of Merck & Co., Inc., Kenilworth, N.J., USA, and is a division of Merck & Co., Inc., Kenilworth, N.J., USA. It announced the completion of its acquisition of PrognostiX Poultry Limited d/b/a Poultry Sense Ltd. from its founding shareholders. Poultry Sense Ltd. is a pioneer in poultry industry health and environmental monitoring solutions.
Veterinary Medicines Regulation, which applies to all European Union member countries, including Ireland, Antimicrobial (AM) prophylactic use in groups of animals is prohibited, metaphylactic use in groups of animals is restricted, and certain AMs are reserved for humans only. In the Irish dairy industry, as in others, successful implementation of the regulation will necessitate a high level of mastitis control across all herds, as well as measures to support high antibiotic stewardship standards. National action will be critical to support optimal mastitis control across the national herd. The regulation will result in specific prescribing changes for private veterinary practitioners (PVPs), including the requirement to switch from blanket to selective dry cow therapy.
The global veterinary medication market is highly competitive, and market leaders have used a variety of strategies to gain the greatest veterinary medicine market share. Collaboration, product launches, partnerships, and acquisitions are examples of these. Zoetis, Inc., Merck & Co., Inc., Elanco Animal Health, Dechra Pharmaceuticals PLC, Ceva Santé Animale, Virbac, Vetoquinol S.A., Boehringer Ingelheim International GmbH, ADM Animal Nutrition, and Evonik Industries AG are among the market's major players.
Rising Trend in Animal Healthcare Expenditure in Veterinary Medication
- Short Product Exclusivity Period
Government Authorities Collaborate With Veterinarians and Develop Schemes That Assure the Availability of Optimum Inventory at Fields for Treating the Farm Animals and Rising Awareness about Veterinary Medicines
Key highlights of the Global Veterinary Medication market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Veterinary Medication market in next few years.
Detailed Insights on futuristic trends and changing consumer behaviour
Forecast of the Global Veterinary Medication market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Veterinary Medication Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Veterinary Medication market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Veterinary Medication market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Homeopathic Veterinary Medicines Companies, Veterinary Clinics & Hospitals, Regulatory & Government Bodies, Research & Consulting Firms, Universities, Upstream & Downstream Vendors, End Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.