According to FutureWise analysis the market for Veterinary Health Products in 2023 is US$ 56.5 billion, and is expected to reach US$ 112.75 billion by 2031 at a CAGR of 9.00%.
Any product used to treat different medical conditions in animals is considered veterinary health product or veterinary medicine. Veterinary medicine includes drugs such as anti-infective drugs and parasiticides, which are administered orally to animals. In veterinary health products, vaccines are also used to build immunity in animals against various infectious diseases, including equine influenza and parainfluenza 3-respiratory syncytial virus. Additionally, they include medicated feed additives that are mixed with animal feed to provide pharmaceutical effects for animals. Furthermore, veterinary product is used on many types of animals, including companion animals such as dogs and cats and livestock animals such as cattle, pigs, and poultry. The drugs are also administered to animals via different routes, such as the oral route for medication, the parenteral route for vaccines, and the topical route for some parasiticidal drug preparations. Any product used to treat various medical conditions in animals is referred to as veterinary health product. flammation associated with osteoarthritis, hookworm, whipworm, infections, and others. Globally, pet owners and livestock populations are major factors contributing to the growth of the veterinary health products market. Other factors, such as an increase in the prevalence of various medical conditions in animals and an increase in the demand for livestock products, also support the growth of the veterinary health products market. Further, animal healthcare expenditures are another major factor contributing to market growth. Nevertheless, the lack of veterinary infrastructure facilities in underdeveloped nations and the strict regulations surrounding medicate feed additives prevent the veterinary medicine market from growing. The growing awareness of animal health offers a lucrative opportunity to veterinary health products market.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Veterinary Health Products Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Veterinary Health Products Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.