Veterinary Medicine Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies

Global Veterinary Medicine report from Global Insight Services is the single authoritative source of intelligence on Veterinary Medicine market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Veterinary medicine is the branch of medicine that deals with the diagnosis, prevention, and treatment of disease, disorder, and injury in non-human animals. The scope of veterinary medicine is wide, covering all animal species, both domesticated and wild, with a wide range of conditions that can affect different organs and systems.

Key Trends

Some of the key trends in Veterinary Medicine technology include the use of 3D printing for prosthetics and implants, the use of drones for the delivery of food and medicine, and the use of robotics for surgery.

3D printing is becoming increasingly popular in the veterinary world, as it offers a way to create custom prosthetics and implants for animals. This technology is particularly beneficial for animals who have lost a limb or who are born with congenital defects.

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Market Segments

The veterinary medicine market is segmented by product, animal type, end-use, and region. By product, the market is classified into drugs, vaccines, and others. On the basis of animal type, it is bifurcated into companion animals, and livestock animals. Based on end-use, it is divided into laboratories, veterinary hospitals, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Key Players

The global veterinary medicine market includes players such as Archer Daniels Midland, Boehringer Ingelheim International GmbH, Ceva Santé Animale, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Evonik Industries AG, Merck & Co Inc, Soparfin SCA, Virbac SA., Zoetis Inc, and others.

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Key Drivers

There are several key drivers of the veterinary medicine market.

The first is the increasing prevalence of pet ownership. In developed countries, the percentage of households with pets has been steadily increasing for several decades, and this trend is now starting to emerge in developing countries as well.

Another key driver of the veterinary medicine market is the increasing demand for a better quality of care for pets. As pets become increasingly recognized as members of the family, owners are increasingly willing to invest in their health and wellbeing.

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