According to FutureWise analysis the market for animal drugs in 2023 is US$ 36.97 billion, and is expected to reach US$ 57.25 billion by 2031 at a CAGR of 5.60%.
Animal drugs, also known as veterinary pharmaceuticals or veterinary drugs, are specialized substances designed to prevent, diagnose, treat, or mitigate diseases, injuries, or other health conditions in animals. These drugs are developed to cater to various animal species' specific physiological and metabolic needs, including pets, livestock, wildlife, and laboratory animals. Animal drugs consist of a wide range of formulations, including oral medications (tablets, capsules, liquids), topical treatments (creams, ointments, sprays), injectables, and even, in some cases, medicated feed additives. These must be prescribed by licensed veterinarians, administered by animal owners under veterinary guidance, or used in specific agricultural and research settings. These drugs are formulated to address various health concerns in animals. This includes antibiotics to fight against bacterial infections, vaccines for disease prevention, antiparasitic to control parasites like fleas, ticks, and worms, analgesics, and anti-inflammatories to manage pain and inflammation, and various specialized medications for conditions ranging from cardiovascular diseases to behavioural issues. these drugs are also developed for the reproductive health of the animals, helping them in breeding programs and supporting fertility. Some hormonal treatments are also given to induce ovulation and regulate the oestrus cycle.
The development and approval of animal drugs involve rigorous testing and regulatory processes to ensure their safety, efficacy, and suitability for use in specific species. The use of animal drugs is guided by veterinary professionals who assess the animal's health condition, consider potential drug interactions, and provide dosage instructions.
FutureWise Market Research has published a report that provides an insightful analysis of Animal Drugs Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts' projects that the Animal Drugs Market will experience a significant growth.
According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.