Animal Drugs Market to hit USD 59.5 Billion by 2032, says Global Market Insights Inc.
Animal Drugs industry is anticipated to register 5.4% CAGR between 2023 and 2032 due to growing demand for online veterinary pharmacies.
Selbyville, Delaware, Jan. 19, 2023 (GLOBE NEWSWIRE) —
The animal drugs
COVID-19 pandemic-driven pet ownership trends to increase preference for animal drugs in veterinary hospitals
Growing animal health expenditure and accessibility to advanced veterinary facilities will augment the animal drugs market landscape. COVID-19 pandemic-driven pet ownership and adoption rates along with increasing awareness regarding animal health to accelerate development for veterinary services and animal drugs across dedicated healthcare facilities.
High prevalence of zoonotic diseases to boost Europe animal drugs industry
Europe animal drugs market is poised to surpass USD 16.6 billion by 2032. Rising prevalence of zoonotic and veterinary diseases along with the presence of favorable healthcare policies will foster industry expansion across Europe. Pet parents in the region have access to state-of-the-art veterinary care facilities and innovative mobile veterinary services, further offering lucrative business prospects. Also, regional players are gaining significant support from the regulatory authorities in Europe with the deployment of favorable laws and policies. Growing public efforts and awareness initiatives will have a positive impact on the industry in Europe.
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Strategic collaborations to boost animal drugs industry outlook
Boehringer Ingelheim International GmbH, Durvet, Inc., Merck & Co., Inc., Neogen Corporation, Inc., Virbac S.A., Vetoquinol SA, Zoetis, Inc. are some of the leading companies in the global animal drugs market.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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