Veterinary Medicine Market Research Report, By Animals (Domesticated, Companion Animals), By Products (Injury Medicine, Disorder Medicine and Diagnosis Medicine and others), By Route of Administration (Oral, Topical, Parental), By End User (Veterinary Clinics, Veterinary Hospitals, Research Institutions and others) – Global Forecast till 2023
The global veterinary medicine market is expected to grow at a CAGR of 8.1% during forecasted period 2017-2023.
KEY PLAYERS FOR VETERINARY MEDICINE MARKET
Zoetis, Inc. (Pfizer), Merck & Co., Inc. (Intervet), Eli Lilly and Company (Elanco/Novartis), Bayer Healthcare AG, Ceva Santé Animale, Virbac S.A, Vetoquinol SA, Boehringer Ingelheim GmbH, Nutreco N.V. and Sanofi S.A. (MERIAL Limited). Major animal feed additive manufacturers are Cargill Inc. (Provimi), ADM Alliance Nutrition, Koninklijke DSM N.V and Evonik Industries AG among others.
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MARKET SCENARIO FOR VETERINARY MEDICINE MARKET
Veterinary medicine, which deals with prevention, diagnosis, and treatment of diseases, disorder, and injury in animals. Veterinary medicine is widely practiced worldwide due to increasing number of pet adoptions, rising veterinary expenditure, increasing number of veterinary professionals, and rising demand for pet insurance. Additionally, awareness about animal’s health, government initiatives and many NGOs working for animal health care is increasing.
From ages, humans have depended on animals for service, food, and companionship. Now in modern times, animals have played a crucial role in research, where diseases are studied and drug therapies are developed. Increasing diseases in animals have driven the growth for the market. Government steps towards welfare of domesticated animals and increasing demand for pet animals are the major driving forces in veterinary medicine market. The high buying power and the consolidated nature of the large animal products industry in the U.S. and Europe is likely to drive the market. The rise in the population of companion animals is the largest driver of the market.
SEGMENTATION FOR VETERINARY MEDICINE MARKET
The global veterinary medicine market is segmented on the basis of products, animals, route of administration, and end users.
On the basis the animals it is sub-segmented into companion and domesticated animals.
On the basis of the products it is sub-segmented into injury medicine, disorder medicine, and diagnosis medicine.
On the basis of the route of administration it is sub-segmented into Parental, oral, and topical.
On the basis of end users, it is sub-segmented into research institutions, veterinary hospitals, veterinary clinics, and others.
REGIONAL ANALYSIS FOR VETERINARY MEDICINE MARKET
On the regional basis, the market is segmented into America, Europe, Asia pacific, and the Middle East & Africa. America dominates the global market for veterinary medicine as it is well developed country and has good animal welfare policies. America spends huge amount in animal welfare and research in veterinary medicine market.
The Americas accounts for a significant market share owing to high expenditure on the health care especially of the U.S. and Canada. The high concentration of the major veterinary hospitals in the developed countries of this region coupled with good reimbursement rates are adding fuel to the market growth. The consolidation of large healthcare players in the U.S. also cause the growth in the market due to increase in buying power of the healthcare players, which results in the economies of scale.
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BRIEF TOC FOR VETERINARY MEDICINE MARKET
CHAPTER 1. INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
CHAPTER 2. RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
CHAPTER 3. MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
CHAPTER 4. MARKET FACTOR ANALYSIS
4.1 PORTERS FIVE FORCES MODEL
4.2 BARGAINING POWER OF SUPPLIERS
4.3 BARGAINING POWER OF BUYERS
4.4 THREAT OF NEW ENTRANTS
4.5 THREAT OF SUBSTITUTES
4.6 INTENSITY OF RIVALRY
CHAPTER 5. GLOBAL VETERINARY MEDICINE MARKET, BY ANIMALS
To be continued…
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