Veterinary Drugs Market to Worth US$ 27,570 Mn Gaining Impetus from Government Support | Fortune Business Insights

The Global Veterinary Drugs Market will reach a valuation of US$ 27,570 Mn by 2025 from US$ 17,870.6 Mn in 2017, and exhibit a promising CAGR of 5.6% over the aforementioned forecast period.

Pune, India - May 16, 2019 /MarketersMedia/ —

The parasiticides segment accounted for the highest share in 2017 with market revenue of 32.2% and is likely to dominate the market in terms of product segmentation. This is because prevention of animals from insects and parasites is extremely important, in order to avoid its devastating impact on the animals and further on humans consuming products derived from such animals such as milk, eggs, and meat.

The rising demand for advanced drugs is likely to create lucrative growth opportunities for the global veterinary drugs market, finds Fortune Business Insights in their new study. The study is titled “Veterinary Drugs Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.” According to the study, the global veterinary drugs market will reach a valuation of US$ 27,570 Mn by 2025 from US$ 17,870.6 Mn in 2017, and exhibit a promising CAGR of 5.6% over the aforementioned forecast period.

Request Sample Copy at https://www.fortunebusinessinsights.com/enquiry/sample/veterinary-drugs-market-100171

Rise in Intake of Meat Consumption to Propel Market

The rise in the prevalence of infectious diseases among animals is driving the demand for veterinary drugs. Increasing poultry farming will bode well for the veterinary drugs market as well. Besides this, the market is likely to witness an increasing demand from pet farm owners. Introduction of cost-effective and advanced drugs will also help the market generate more revenue.

On the flipside, the discovery of new and complex diseases occurring in animals might increase the chances of contracting animal diseases such as bird flu, rabies, African swine flu, and others. Be it as it may, the rising incidence of these diseases are fueling the demand for more effective medicines and vaccines for animals. This might cause concern among animal owners and further propel the market for veterinary drugs.

Nevertheless, the rising number of meat consuming people and increasing demand for animal products such as milk, ghee, cheese, and eggs are creating better growth opportunities for the veterinary drugs market.

Governments are also imposing stringent regulatory measures for improving animal safety. Such policies will not only keep animals safe from diseases but also improve the quality of products we derive from them.

Asia Pacific to Exhibit Fastest Growth Rate

The rate of animal adoption is more in North America as compared to other regions. This, coupled with, the introduction of new animal-related products in the region will help it emerge dominant at a global scale. In 2017, North America held the highest share in the global veterinary drugs market and was valued at US$ 6290.1 Mn. It is also expected to continue dominating the market through the forecast period.

On the other side, Asia Pacific is expected to show a remarkable growth rate in the coming years. The stringent rules imposed on animal healthcare by governments of nations in this region, coupled with, the involvement of animals in agricultural activities are propelling the veterinary drugs market in Asia Pacific.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/veterinary-drugs-market-100171

Vendors are entering into strategic collaborations, merger and acquisitions, and new product launches in order to gain a strong foothold in the market. They are also investing huge sums into research and development strategies for the discovery of new drugs to prevent various diseases from occurring in animals. Some of the players operating in the veterinary drugs market are Bayer AG., Zoetis Animal Healthcare, Virbac S.A. Vetoquinol, Ceva, Vetoquinol S.A., Merial Animal Health, Merck Ltd., Elanco, Intervet Inc., and Boehringer Ingelheim International GmbH.

About Us

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Info:
Name: Fortune Business Insights
Organization: Fortune Business Insights
Address: Fortune Business Insights Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India
Phone: +1 424 253 0390
Website: https://www.fortunebusinessinsights.com/

Source URL: https://marketersmedia.com/veterinary-drugs-market-to-worth-us-27570-mn-gaining-impetus-from-government-support-fortune-business-insights/513520

Source: MarketersMedia

Release ID: 513520

Latest News

The Latest: Concerts canceled over Hong Kong airport protest

Aug 18, 2019

HONG KONG — The Latest on Hong Kong protests (all times local): 7 p.m. At least three concerts by overseas performers have been canceled in Hong Kong as protesters forced the city's airport to suspend operations for a second day. K-pop star Kang Daniel and Scottish band CHVRCHES both announced Tuesday that they are calling off upcoming events. American singer-songwriter Alec Benjamin canceled an upcoming concert late Monday. Kang's management office said the cancellation of a fan meeting scheduled for Sunday was because of safety concerns related to the protests, while CHVRCHES blamed "unforeseen circumstances." The airport protests are the...

Mother's voice pierces Malaysia jungle in search for girl

Aug 18, 2019

SEREMBAN, Malaysia — Malaysian rescuers stepped up their search Friday for a 15-year-old London girl who vanished from a nature resort six days ago by playing voice recordings of her mother and brought in members of an elite commando force as they combed the hilly forest terrain. "Nora darling, Nora, Nora, Mummy's here," the voice of Meabh Quoirin rang out through loudspeakers carried by rescuers, piercing the jungle silence. The family of Nora Anne Quoirin discovered her missing Sunday morning from the Dusun eco-resort in southern Negeri Sembilan state. Police believe the teen climbed out through a window in the...

China issues top warning for strong typhoon nearing coast

Aug 18, 2019

BEIJING — China issued its top warning for coastal areas of Zhejiang province Friday ahead of a strong typhoon expected to bring heavy rain and winds within hours. Heavy rain was expected in Zhejiang, Shanghai and nearby provinces on Friday before Typhoon Lekima hits land on Saturday morning, then weakens as it moves north. Parts of northern Taiwan closed offices and suspended classes at schools on Friday as the storm passed northeast of the island. The same area was hit by a magnitude 6.0 earthquake Thursday that caused minor damage but no deaths or injuries. The red alert China issued...

Hong Kong reassures visitors amid protests, travel warnings

Aug 18, 2019

HONG KONG — Hong Kong is seeking to reassure visitors to the city after several countries issued travel safety warnings related to ongoing prod-democracy protests. An email attributed to an unidentified government spokesman conceded recent road blockages and confrontations between police and protesters had caused inconveniences, but said they were confined to limited areas. It said the government and the travel industry were working to minimize disruptions to visitors. The government on Thursday said tourist arrivals dropped 26% at the end of last month compared to last year and were continuing to fall in August. Commerce Secretary Edward Yau Tang-wah...

US urges increased caution for Americans visiting Hong Kong

Aug 18, 2019

HONG KONG — The U.S. government on Thursday stepped up its warnings to travelers to Hong Kong because of increasing violence surrounding pro-democracy protests in the Chinese city. The State Department's Level 2 travel advisory issued Thursday urges "increased caution in Hong Kong due to civil unrest" and tells travelers to avoid demonstrations and to "exercise caution if unexpectedly in the vicinity of large gatherings or protests." The protests were sparked two months ago by proposed extradition legislation that could have seen suspects sent to mainland China, where protesters say they could face torture and unfair politicized trials. They have...

Sign up now!

About Us

Gempak Media delivers the most talked and gempak stories on the Internet to you. Be the first to know about the latest news and don’t forget to share it around.

Contact us: sales[at]gempakmedia.com

Subscribe Now!