The global veterinary therapeutics market has witnessed growth at a significant rate in the past few years, owing chiefly to the rising awareness about health and well-being of companion as well as livestock animals. The market is driven by factors such as the increase in ownership of companion animals, rapid introduction of new products capable of combating new varieties of diseases in animals, increased affordability of treatments, and rising expenditure on animal health. Read More: http://www.transparencymarketresearch.com/veterinary-therapeutics-market.html

1. Veterinary Therapeutics Market - Global
Industry Analysis, Size, Share, Growth,
Trends and Forecast 2016 - 2024
The global veterinary therapeutics market features a largely consolidated
competitive landscape, with the leading 10 companies accounting for a
share of more than 75.0% of the global market, reports Transparency
Market Research in a recent report. Zoetis, Inc. dominated, accounting
for a share of 18.5% in the global market in 2015.
The company outperformed competitors with the help of its diversified
product portfolio, extensive geographical presence, and acquisition
strategies. Strategic consolidation and expansion across high growth
potential regions are some of the most popular strategies adopted by
leading market players in the rapidly growing animal health care market.
A recent instance of such activities is the strategic swap of Boehringer
Ingelheim’s over-the-counter (OTC) medicines business for Sanofi’s
animal health business segment Merial in December 2015. With the
exchange, these two companies will become leading competitors in two
different disciplines in the global veterinary therapeutics and the overall
pharmaceuticals market.
Transparency Market Research states that the global veterinary
therapeutics market will expand at a healthy CAGR of 6.7% over the
period between 2016 and 2024. As a result, the market, which held an
opportunity of US$26.9 bn in 2015, is expected to rise to US$50.2 bn by
2024. In terms of the key product types that come under the purview of

2. the market, the segment of drugs holds the leading position, accounting
for a revenue-wise share of 56.2% in the global market in 2015.
Geography-wise, North America dominated the global market in 2015,
accounting for a share of 28.9%. Europe closely followed the region in
the same year with a 28.1% share.
Browse Full Research Report on Veterinary Therapeutics Market:
http://www.transparencymarketresearch.com/veterinary-therapeutics-
market.html
The global rise in demand for food has led to an increased focus on cost-
effective and high-quality production of animal protein. Changing eating
habits of the global population have also led to an increased demand for
a variety of meat and livestock products globally.
This factor has emerged as one of the most impactful drivers of the
global veterinary therapeutics market of late. This factor will continue to
be a leading demand driver of the market and is expected to increase
focus of leading companies on regional markets with flourishing
livestock markets and excellent animal products export capabilities.
Along with this, the vast rise in research and development activities and
advancements in the field of veterinary therapeutics have resulted in
substantial improvement in treatment and surgical capabilities for
companion animals and the development of new products capable of
combating new diseases in animals.
In the past few years, a plethora of factors including climate changes,
increasing import of animals from endemic areas, and the rise in

3. international travels by companion animal owners have triggered the rise
in vector-borne infections outside traditional endemic areas. These
factors are also key drivers of the market for animal pharmaceuticals and
parasiticides.
The global veterinary therapeutics market is plagued by concerns such
as the need for substantial investments on research and development
projects but the comparatively lower returns, decline in new chemical
entities (NCE) approvals owing to stringent regulatory requirements, and
an aging product portfolio.
The factor of fewer NCE approvals in the past few years, has, especially,
left vendors with less growth through lifecycle extension strategies.
Stringent government regulatory and approval policies in some of the
key regional markets could also be a major restraint for the market.
For instance, the U.S. Animal and Plant Health Inspection Service
revised regulations on product labels in July 2015. Prior to the
implementation of these regulations, brands could claim any of four
levels of efficacy, but now, only a single claim may be used.
Browse Full Press Release on Veterinary Therapeutics Market:
Press Release

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