Veterinary Therapeutics Market
Veterinary Therapeutics Market (Product Type - Drugs (Anti-invectives’, Anti-inflammatory, Parasiticides), Vaccines (Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines), Medicated Feed Additives (Amino Acids, Antibiotics); Animal Type - Companion Animals, Livestock Animals; Route of Administration - Oral, Parenteral, Topical; Distribution Channel - Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Press Release :
Research & Development Activities and Commercialization of New Products to Propel Market Growth
For several decades, veterinary vaccines have played a key role in improving food security and as a result, human health. The medicine sphere wherein veterinary medicines constitute a significant share continues to evolve at a consistent pace. At present, innovations in the veterinary therapeutics market are largely made possible through advancements in technology and research & development activities. Over the past decade, a considerable amount of promising breakthroughs in the veterinary therapeutic field have paved the way for a host of specialty medicine. The significant rise in the number of pet animals worldwide, progress in surgical and medical capabilities pertaining to the treatment of animals, growing focus on improving the overall wellness of animals, significant progress in the development of new vaccines for an array of diseases, and discovery of new medication to curb the occurrence of new diseases are some of the key factors expected to influence the expansion of the veterinary therapeutics market during the forecast period.
Companies involved in the current veterinary therapeutics market landscape are actively engaged in research and development activities that have offered considerable promise. However, one of the glaring challenges that market participants are required to negotiate their way through is the evolving regulatory framework. Product development is likely to remain the cornerstone of the growth of the global veterinary therapeutics market, which is expected to reach US$ 58.5 Bn mark by the end of 2027.
To know the scope of our report Get a Sample on Veterinary Therapeutics Market
Breakthrough in Delivery of DNA Vaccines to Combat Avian Pathogens to Augment Market
Veterinary therapeutics have evolved at a considerable pace over the past decade, as drug developers continue to improve the overall efficacy of their products. Moreover, cost-efficiency, ease of administration, and suitability for mass vaccination are some of the other areas that have gained a great amount of consideration during the drug development phase. In recent times, DNA vaccines have offered significant promise as an ideal solution for different poultry diseases, as they have exhibited no reversion to virulence and infection. At present, DNA vaccines have started to gain a great amount of traction, as they can be deployed against an array of pathogens and are comparatively easier to develop, manufacture, and store. However, despite offering these advantages, the adoption of DNA vaccines could slow down, owing to lack of capacity to induce high immunity and lack of availability for large-scale vaccination in the current scenario.
Get a glimpse of the in-depth analysis through our Report Brochure
Vaccines and the development of new drugs will continue to progress at a consistent pace during the forecast period. Presently, in terms of product type, drugs are set to retain the majority of the share of the veterinary therapeutics market– a trend that is expected to continue during the forecast period. Although drugs will remain popular, the development of new vaccines will gain considerable momentum. DNA vaccines to address diseases in poultry are predominantly for combating bacterial, viral, and protozoan diseases. Although DNA vaccines to tackle poultry diseases have gained momentum since 1993, FDA approval for these vaccines has gathered pace only in the past decade. Clinical trials and added research and development activities will continue to boost the adoption of vaccines within the global veterinary therapeutics market in the coming years.
Companies to Rely on Inorganic Growth Strategies to Gain Ground
Companies operating in the current veterinary therapeutics market are expected to increase their market share by relying on inorganic growth strategies such as mergers & acquisitions. While expanding the product portfolio will continue to be an integral part of growth strategies for participants operating in the current market landscape, commercialization and development of new veterinary therapeutics are expected to gain momentum. For instance, in July 2019, Elanco Animal Health Incorporated announced that the company has completed the acquisition of Aratana Therapeutics. With the acquisition, Elanco could expand its product portfolio and gain the exclusive rights to manufacture, develop, and commercialize the ‘cash cow’ Galliprant. While drug development will continue to revolve around companion animals as well as livestock animals, market participants are anticipated to continue to improve the efficacy of their veterinary therapeutics during the forecast period.
Expanding operations in future? To get the perfect launch ask for a custom report
The global veterinary therapeutics market is expected to grow at a CAGR of ~6% during the forecast period. Some of the major factors that are likely to propel the market growth include growing demand for improved drugs, rise in the number of companion animals worldwide, improvements in surgical and medical capabilities of treatments for companion animals, development of products to combat new diseases, and growing emphasis on wellness and prevention of diseases in animals. Companies operating in the current market landscape should focus on expanding their product portfolio, investing in the development of DNA vaccines, and adopting inorganic growth strategies, including mergers & acquisitions to gain steady ground in the veterinary therapeutics market.
Veterinary Therapeutics Market: Overview
- Veterinary therapeutics is a branch of animal healthcare that deals with prevention, treatment, and alleviation of several diseases. The veterinary therapeutics market consists of drugs for the treatment of animal diseases, vaccines for the prevention of various pathological conditions, and feed additives to maintain the overall well-being of animals by providing all the necessary nutrients required to lead a long, healthy life.
- The drugs segment includes anti-infective, anti-inflammatory, parasiticides, and others. Different types of vaccines such as inactivated vaccine, live attenuated vaccine, recombinant vaccine, and others are used in the treatment of veterinary disorders.
- Global demand for veterinary drugs, vaccines, and medicated feed additives to prevent, treat, and manage different animal diseases has reached an all-time high. Rapid increase in number of animal diseases, rise in companion animal ownership, and high prevalence of zoonotic diseases have fueled the demand for high quality veterinary therapeutics. According to the National Pet Owners Survey, conducted by American Pet Products Association (APPA), in 2017, around 68% of households in the U.S. owned a companion animal or pet.
- Moreover, increase in investments in research & development of novel drugs and vaccines by private and government bodies is also expected to propel the market in the near future
- However, low research and development (R&D) returns resulting in aging product portfolio, stringent regulatory framework, and rising concern about the use of antibiotics and growth promoters in food animals are some of the restraints of the veterinary therapeutics market
Market Segmentation: Veterinary Therapeutics Market
- Based on product type, the global veterinary therapeutics market has been divided into drugs (anti-infective, anti-inflammatory, parasiticides, and others), vaccines (inactivated vaccines, live attenuated vaccines, recombinant vaccines, and others), and medicated feed additives (amino acids, antibiotics, and others)
- In terms of animal, the global veterinary therapeutics market has been classified into companion animal and livestock animal
- Based on route of administration, the global veterinary therapeutics market has been divided into oral, parenteral, and topical
- In terms of distribution channel, the global veterinary therapeutics market has been categorized into veterinary hospitals, veterinary clinic, pharmacies & drug stores, and others
- Each of the segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and useful insights. The report provides current and future revenue (US$ Mn) for each of these segments from 2017 to 2027, considering 2018 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2019 to 2027 along with market size estimations.
Regional Overview: Veterinary Therapeutics Market
- In terms of region, the global veterinary therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
- The current and future market value in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report from 2017 to 2027, with their CAGRs from 2019 to 2027
- The study also offers a list of recommendations, highlights, and useful insights of the market which would help new companies willing to enter the market and existing companies to increase market shares and decision-making process
- The report concludes with the company profiles section that includes key information about major players in the market
- Leading players analyzed in the report include
- Zoetis, Inc.
- Merck Animal Health
- Elanco Animal Health
- Boehringer Ingelheim GmbH
- Ceva Santé Animale
- Vetoquinol S.A.
- Dechra Pharmaceuticals PLC
- The Chanelle Group
- ImmuCell Corporation.
- Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
Veterinary Therapeutics Market - Scope of the Report
TMR’s report on the global veterinary therapeutics market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators for the market during the forecast period from 2019 to 2027. The report provides revenue of the global veterinary therapeutics market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global veterinary therapeutics market from 2019 to 2027.
The report is prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involved reaching out to key players’ product literature, annual reports, press releases, and relevant documents to understand the veterinary therapeutics market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the veterinary therapeutics market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the global veterinary therapeutics market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global veterinary therapeutics market.
The report delves into the competitive landscape of the global veterinary therapeutics market. Key players operating in the global veterinary therapeutics market are identified and each one of these is profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global veterinary therapeutics market that are profiled in this report.
Key Questions Answered in Veterinary Therapeutics Market Report
- What is the sales/revenue generated by veterinary therapeutics across all regions during the forecast period?
- What are the opportunities in the veterinary therapeutics market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is set to expand at the fastest CAGR during the forecast period?
- Which product segment is expected to generate the highest revenue globally in 2027? Which segment is projected to expand at the highest CAGR during the forecast period?
- What are the market positions of different companies operating in the global market?
Veterinary Therapeutics Market - Research Objectives and Research Approach
The comprehensive report on the global veterinary therapeutics market begins with an overview, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global veterinary therapeutics market in terms of product type, animal, route of administration, distribution channel, and region. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2027 has also been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the veterinary therapeutics market.
Veterinary Therapeutics Market - Segmentation
TMR’s study on the global veterinary therapeutics market includes information divided into four segments: product type, animal, route of administration, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these segments of the global veterinary therapeutics market are discussed in detail.
Medicated Feed Additives
Route of Administration
Pharmacies & Drug Stores
Middle East & Africa