The global veterinary therapeutics market share is expected to witness significant growth in the coming years. This can be attributed to several factors such as the increasing prevalence of animal diseases, rising pet adoption rates, and growing awareness about animal health.

One of the key drivers for the market is the rising demand for effective treatments for various animal diseases. With the increasing incidence of diseases like zoonotic infections, respiratory disorders, and gastrointestinal problems in animals, there is a growing need for advanced therapeutics to ensure their well-being. This has led to a surge in research and development activities by pharmaceutical companies to develop innovative drugs and therapies specifically designed for animals.

Moreover, the growing trend of pet ownership across the globe has also contributed to the expansion of the veterinary therapeutics market. As more people consider pets as part of their family, they are willing to invest in their healthcare needs. This has resulted in an increased demand for preventive medications, vaccines, and other therapeutic products.

The Veterinary Therapeutics Market size was assessed at USD 31.54 billion in 2022 and is supposed to develop at a build yearly development rate (CAGR) of 7.3% from 2023 to 2030, and is expected to reach USD 55.42 billion by 2030.

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KEY MARKET SEGMENTATION:

By Type

  • Anti-inflammatory
  • Parasiticides
  • Other

By Application

  • Hospitals
  • Veterinary Clinic
  • Drug Stores
  • Others

Some of the major key players are as follows: Bayer AG., Boehringer Ingelheim GmbH, Ceva Sante Animale, Dechra Pharmaceuticals PLC, Eli Lilly and Company (Elanco Animal Health), Merck Animal Health, Sanofi (Merial Animal Health), Virbac, Vetoquinol S.A., Zoeti and Other Players.

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