due to the increase in pet adoption, rise in overall consumption of milk and meat, and fatal diseases like Ebola and swine flu spreading from animals. Animal pharmaceuticals are highly beneficial in the diagnosis and treatment of animal disorders.
New York, June 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Animal Pharmaceuticals Market, By Product Type, By Animal Type, By Route of Administration, By Type of Infection, By End User, By Distribution Channel, By Region, By Company, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p05916717/?utm_source=GNW
The emergence of new economies has led more governments and pharma companies to fund animal healthcare, consequently pushing the market forward. The restraining factors for the market can be the government rules regarding animal testing, and the probability of the sales of fake medicines across e-commerce platforms.
The global animal pharmaceuticals market is segmented based on product type, animal type, route of administration, type of infection, end user, distribution channel and region.Based on product type, the market is segmented into drugs, vaccines and medicated feed.
The drugs segment dominates the market due to the rise in diseases and various infections.On the basis of animal type, the market is segmented into companion and livestock animals.
Companion animals tend to hold a larger share in the market as pet owners ensure their pet’s health and well-being.As compared to livestock animals, companion animals receive special care and veterinary treatment from their owners, which is the major factor driving the market share of this segment.
Based on route of administration, the pharmaceutical products, i.e., drugs and medicated feed are given orally hence the oral route of administration dominates the market. Viral infections dominate the type of infection segment pertaining to their ease of spread and rate of infection. Veterinary clinics are expected to grow at a faster rate because they provide specialized pet/ livestock treatment however, veterinary hospitals are still likely to dominate the end user segment. Based on distribution channel, e-commerce segment is expected to grow at a faster rate in the future because of continuous technological advancements that make it the most convenient option for pet and livestock owners.
The overall animal pharmaceuticals market is widespread, expanding itself to various regions including Asia-Pacific, Europe, North America, South America, and Middle East & Africa.North America has the largest market share by virtue of the pre-existing established pharmaceutical companies and the increasing consumption of meat and milk in the region.
However, the fastest growth is shown by the Asia-Pacific region due to the prevalence of animal-borne diseases like swine flu and Ebola.
The top leading players of the animal pharmaceuticals market are Zoetis Inc, Merck and Company, Vetoquinol SA, Virbac SA, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc, Ceva Sante Animale S.A., Covetrus Inc., Phibro Animal Health Corporation, Biogénesis Bagó SA, Neogen Corporation Ltd., Dechra Pharmaceuticals PLC, ImmuCell Corporation, Krka, tovarna zdravil, d. d., Novo mesto, and ECO Animal Health Ltd., etc. The inter-company competition keeps on increasing parallelly with the market which in turn leads to innovations in technology, thus enhancing the animal healthcare sector.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026F
Objective of the Study:
• To analyze the historical growth in the market size of the global animal pharmaceuticals market from 2016 to 2020.
• To estimate and forecast the market size of the global animal pharmaceuticals market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the global animal pharmaceuticals market based on product type, animal type, route of administration, type of infection, end user, distribution channel and region.
• To identify drivers and challenges for the global animal pharmaceuticals market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global animal pharmaceuticals market.
• To conduct pricing analysis for the global animal pharmaceuticals market.
• To identify and analyze the profile of leading players operating in the global animal pharmaceuticals market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of the global animal pharmaceuticals market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Animal healthcare centers, vets
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to animal pharmaceuticals
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the global animal pharmaceuticals market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Global Animal Pharmaceuticals Market, By Product Type:
o Medicated Feed
• Global Animal Pharmaceuticals Market, By Animal Type:
o Companion Animal
o Livestock Animal
• Global Animal Pharmaceuticals Market, By Route of Administration:
• Global Animal Pharmaceuticals Market, By Type of Infection:
• Global Animal Pharmaceuticals Market, By End User:
o Veterinary Hospitals
o Veterinary Clinics
o Point of Care/ In-house Testing
• Global Animal Pharmaceuticals Market, By Distribution Channel:
o Veterinary Hospitals
o Pharmacies and Drug stores
• Global Animal Pharmaceuticals Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in the global animal pharmaceuticals market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05916717/?utm_source=GNW
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