MRRSE has added a new research report on the "Veterinary Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024" to its collection.

1. Veterinary Therapeutics Market: Global Industry Information,
Trends, Outlook, Analysis and Forecast to 2016 - 2024
Report Description
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

2. 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.
Transparency Market Research estimates that the global
veterinary therapeutics market will exhibit a healthy 6.7%
CAGR over the period between 2016 and 2024. Expanding at
this pace, the market, which had a valuation of US$26.9 bn
in 2015, is projected to reach US$50.2 bn by 2024.

3. Veterinary Therapeutics Drugs Emerge as Most Preferred
Product Variety
Of the key product segments in the global veterinary
therapeutics market, drugs emerged as the leading segment,
accounting for a revenue share of 56.2% of the global market
in 2015. Of the key varieties of veterinary drugs examined in
the report, the segments of anti-infectives and parasiticides
collectively accounted for dominant share of the drugs
segment in 2015. These segments are also estimated to
dominate the market over the forecasting horizon owing to
the high demand for preventive measures against various
infectious diseases as well as endoparasites and ectoparasites.
The demand for anti-inflammatory drugs is also expected to

4. see a significant rise in the near future as the significance of
pain management and the use of NSAIDs, especially in
animals, has augmented radically.
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The segment of veterinary vaccines is expected to exhibit
healthy growth in the next few years owing to development
of novel approaches such as recombinant vaccines and DNA
vaccines. The rising awareness about prevention and well-
being of both livestock as well as companion animals is
expected to boost the global demand for veterinary vaccines
over the next few years.

5. North America to Retain Dominance; Latin America Presents
Most Promising Growth Opportunities
The global veterinary therapeutics market is well developed
and earns a substantial share of its revenues from developed
regions such as North America and Europe. However, regions
such as Latin America and Asia Pacific also exhibit significant
potential for healthy growth of the veterinary therapeutics
market. The market for veterinary therapeutics in North
America presently dominates the global market. Factors such
as the presence of superior animal health care base, strong
economic growth, increasing trend of pet ownership, and
higher emphasis on the prevention of diseases by

6. veterinarians and owners are key to North America’s
dominance in the global veterinary therapeutics market. The
region’s rapidly increasing demand for animal food products
is also expected to propel the livestock animals segment. The
segment of companion animals in the region is expanding
owing to factors such as the rising pet population and
introduction of new product by global players.
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In Latin America, which is expected to emerge as one of the
most promising markets for veterinary therapeutics, the rising
capacity of meat production in countries such as Brazil is

7. compelling several global players to increase their presence to
exploit the vast growth opportunities that the region has to
offer. Latin America is expected to emerge as one of the
leading meat exporters in the world over the course of the
next few years. Hence, market vendors are investing in the
region to manage the potential rise in demand for drugs,
vaccines, and medicated feed additives for the future rise in
population of livestock animals. Many domestic vendors in
the region have increased their focus on the specialization of
swine therapeutics. The segment of poultry therapeutics is
also expected to be an attractive area for investment in the
region over the next few years.

8. Some of the key vendors operating in the global veterinary
therapeutics market are Boehringer Ingelheim Vetmedica,
Bayer Animal Health, Inc., Dechra Animal Health, Ceva Sante
Animale, Elanco Animal Health, Merck Animal Health, Virbac
S.A., Merial Animal Health, Zoetis, Inc., and Vetoquinol S.A.
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