Animal Drugs Market size to exceed $41bn by 2025

Animal Drugs Market size is set to exceed USD 41 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Increasing government programs coupled with investment in R&D activities for numerous animal diseases should augment the market demand for animal drugs.

 

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More than half of the dogs and cats in the U.S. found to be overweight in 2018

Growing obesity rates in companion animals across the globe will drive the animal drugs market outlook over the analysis timeframe. Increasing obesity has negatively impacted the health of companion animals, thus making them susceptible to several diseases. According to the data published by the Association for Pet Obesity and Prevention, nearly 56% of dogs and 60% of cats in the U.S. were overweight in 2018. Additionally, pet obesity is the major animal health concern in the U.S., that further augments veterinary drugs market growth.
 

Antiparasitic and anti-inflammatory animal drugs are widely used to maintain animal health and welfare

Based on product, the market is segmented into drugs, vaccines, and medicated feed additives. The animal drugs segment was valued more than USD 17 billion in 2018 and should witness a momentous growth over the coming years. Animal Drugs play a crucial role as they safeguard animal health, maintain animal welfare and minimize the risk of parasitic zoonoses. Furthermore, antiparasitic animal drugs effectively remove parasites and are safe when compared with other drugs on the market. In addition, these drugs are easy to administer and have greater stability than others. Hence, above mentioned factors will render a significant positive impact on the industry growth.
 

Browse key industry insights spread across 200 pages with 294 market data tables & 9 figures & charts from the report, “Animal Drugs Market Share By Product (Drugs {Antiparasitic, Anti-inflammatory, Anti-infectives}, Vaccines {Modified Live Vaccines [MLV], Killed Inactivated Vaccines}, Medicated Feed Additives {Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals}, By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}), By Route of Administration (Oral, Injectable, Topical), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacy and Drug Stores, E-commerce),  Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, The Netherlands, China, India, Japan, Australia, South Korea, Taiwan, Brazil, Mexico, Argentina, South Africa, GCC Countries, Israel), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/animal-drugs-market
 

Growing pet adoption for companionship will promote animal drugs industry growth

Companion animals segment of the market is projected to witness over 5% CAGR during the forecast timeframe. Companion animals are living longer due to increased focus on healthcare and rise in pet ownership. Moreover, availability of companion animal drugs for effective animal health outcome further enhances the segmental progress. In addition, companion animal medicines have higher gross margins as compared to production animals. Manufacturers can directly sell their products to veterinary clinics and veterinarians. Thus, aforementioned aspects prove beneficial for the segmental growth over the analysis timeframe.
 

Benefits offered by injectables such as greater efficacy and bioavailability will foster the segment growth

Based on route of administration, the market is divided into oral and parenteral dosage forms. Injectable segment was valued around USD 13 billion in 2018. Different parenteral route of administration in animals include intraperitoneal, intramuscular, subcutaneous, intradermal and intracerebral among others. Moreover, intraperitoneal is frequently used in mice and rats since muscle mass is very small as compared to other animals. These injections target different skin layers and are administered underneath the skin and fat layer that surges the segmental growth. 
 

Availability of technologically advanced devices at clinics proves beneficial for the segmental growth

Based on distribution channel, the animal drugs market is segmented into veterinary hospitals, veterinary clinics, pharmacy and drug stores, and e-commerce. Veterinary clinics segment is estimated to hold over 28% market share in 2018 and is projected to witness robust growth during analysis period. Increasing incidence of numerous animal diseases along with surging demand for animal diagnosis in clinics will drive the animal drugs market growth. Clinics offer best quality treatment and procedure at affordable pricing that eventually drives the segmental progress. Since, animal drugs specifically do not require any physician’s prescription, people prefer buying the animal drugs through veterinary clinics that are accessible and convenient.
 

Rising healthcare expenditure on animals in Europe provides lucrative growth opportunities for industry outlook

Europe animal drugs market outlook is anticipated to witness around 4.5% CAGR owing to increasing burden of animal diseases. The market growth is attributed to rising healthcare expenditure on companion animals coupled with strong foothold of notable industry players in Europe. Countries such as Sweden and United Kingdom have introduced various insurance plans for betterment of companion animals health. Moreover, different associations have undertaken strategic initiatives to provide education regarding animal health to European population. Stringent laws against animal hunting in this region will act as a positive impact rendering factor for the market demand.
 

Companies are focusing on development of new and better animal drugs to grab higher industry share

Few of the eminent industry players operating animal drugs market include Elanco, Merck, Bayer, Boehringer Ingelheim, Dechra Pharmaceuticals, Zoetis, Ceva Santé Animale and Virbacs. These market players have assumed different strategic initiatives that has helped them to augment their revenue share in the market. For instance, in April 2016, Merial, the animal health division of Sanofi, introduced combination vaccine to prevent core canine diseases. This strategy thus, expanded the company’s product offerings in the market.
 

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