Veterinary Drugs Market Size, Revenue Growth Development Forecast to 2026

 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.

Browse Complete Report Details:

https://www.fortunebusinessinsights.com/industry-reports/veterinary-drugs-market-100171

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.

Some of the Main Key Players Covered in the Report:

  • Zoetis
  • Intervet Inc.
  • Boehringer Ingelheim
  • Ceva
  • Elanco
  • Vetoquinol S.A.
  • Bayer AG
  • Other players

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.

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.

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.

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.

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