The veterinary drug industry works for three types of animals which include livestock, pets, and wild animals. Livestock includes chicken, cows, buffaloes, pigs, goats, and others that provide meat and dairy products. Wild animals include deer, elephants, and other protected species. Pets include cats, dogs, birds, horses, tortoise, rabbits, and so on. Considerable growth in the adoption of pets has been witnessed in recent years. The most popular pets in North America and Europe are dogs and cats.
Browse the full report description Global Veterinary Drug Market Size, Share & Trends Analysis Report, By Animal (Livestock, Companion, Other), By Type (Anti-Parasitic, Anti-inflammatory, Anti-infective, Others), By Route of Administration (Oral, Injection, Topical, Other) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/veterinary-drug-market
The trend to adopt companion animals is increasing across the globe including developed and emerging economies. According to the US National shelter, the adoption rate of cats and dogs has steadily increased in recent years. The total number of pets in the US in 2017-2018 was 184 million as compared to 144 million in 2012. In 2016, about 6.5 million animals registered in animal shelters with a decrease from 7.2 million in 2011 which reflects the increasing adoption rate in the nation. An estimated 3.2 million shelter animals were adopted in 2016 which was 2.7 million higher from adoptions in 2011, it shows a growth rate of 18.5% in national adoptions.
Moreover, as the American Pet Products Association, 67% of the US household has a pet from 56% in 1988. In the same meantime, the total number of households in the US has increased from around 90 million in 1988 to 130 million in 2019. Growth in health insurance is also witnessed in North America. As per the North American Pet Health Insurance Association (NAPHIA), around 2.43 million pets were insured in North America in 2018 with an increase of 17% YoY.
According to FEDIAF (European Pet Food Industry Federation), there are 80 million households in the EU owing at least one pet animal. As per the Pet Supplies Industry Association, there were around 34.4 million pets in Germany which include dogs, cats, small animals, and cage animals. Nearly 45% of the overall household owns a pet animal in the country. Cat has the largest share with 14.8 million followed by dogs with 9.4 million.
As per Pet Food Manufacturer Association, there were more than 51 million pets in UK in 2018 and about 40% of households had at least 1 pet in UK. There were about 9 million dogs and 7.5 million cats in UK in 2019. Unlike livestock or wild animals, there is always a spender for the food, health, vaccine, and insurance of a pet animal, due to which branded drugs are also available in the market along with their generic version providing significant growth to the animal drug market.
Global Veterinary Drug Market- Segmentation
By Animal
By Type
By Route of Administration
Global Veterinary Drug Market– Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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