The Animal Medicine Global Market Report 2023 by The Business Research Company, provides animal medicine market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Animal Medicine Global Market Report 2023, the market size is expected to grow from$46.91 billion in 2022 to $50.47 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market size of animal medicine is expected to grow from $65.12 billion in 2027 at a CAGR of 6.6%.
The increasing penetration of pet insurance is expected to drive the animal medicine market. Globally, the pet insurance market is largely untapped with extremely low penetration rates, providing a large market opportunity.
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The animal medicine market is segmented:
1) By Type: Veterinary Pharmaceuticals, Feed Additives
2) By Type of Animal: Livestock, Companion Animals
3) By End-Use: Veterinary Hospitals, Pharmacies And Drug Stores, Veterinary Clinics
Nanotechnology is increasingly gaining traction in the animal medicine market as a substitute for veterinary antibiotics. Nanotechnology is the study of controlling matter on an atomic and molecular scale. In the animal medicine industry, nanotechnology is used to improve diagnosis, treatment, animal growth promotion, and production. Nanoparticles are mainly used as alternative antimicrobial agents to reduce the use of antibiotics and improve the detection of pathogenic bacteria. They are also used as drug delivery agents for new drugs and vaccine candidates to improve their characteristics and performance and to reduce drug resistance in animal organisms.
The animal medicine market report table of contents includes:
1. Animal Medicine Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
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25. Key Mergers And Acquisitions In The Animal Medicine Market
26. Market Background: Veterinary Healthcare Market
27. Global Animal Medicine Opportunities And Strategies
28. Animal Medicine Market, Conclusions And Recommendations
29. Appendix
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