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Veterinary Antibiotics Market Players Drive Innovation Through Strategic Collaborations

Veterinary Antibiotics Market 2022 – Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Veterinary Antibiotics Market 2022 – Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, June 22, 2022 / — Veterinary antibiotics market trends include companies increasingly collaborating and partnering with other players to drive product innovations. To succeed in the increasingly competitive veterinary antibiotics market, veterinary medicines companies are entering into new geographies and developing innovative products through sharing skills and expertise with other players. In June 2021, the Pride Veterinary Medical Community announced a collaboration with Covetrus, an animal health technology company based in the United States. With this collaboration, Covetrus empowers the veterinary healthcare professionals by providing advanced veterinary medicine.

The increasing penetration of pet insurance is expected to drive the veterinary antibiotics market growth in the forecast period. Globally, the pet insurance market is largely untapped with extremely low penetration rates providing a large market opportunity. In developed economies such as the USA, the pet insurance penetration rate is around 1%, although in Western European countries such as the UK the penetration rate is around 20%. Increasing penetration of pet insurance will increase the number of visits at veterinary clinics supporting the use of veterinary antibiotics.

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The global veterinary antibiotics market reached a value of nearly $14.69 billion in 2020, having increased at a compound annual growth rate (CAGR) of 7.5% since 2015. The global veterinary antibiotics market size is expected to grow at a CAGR of 15.6% from 2020 to reach $30.29 billion in 2025. The global veterinary antibiotics market share is expected to reach $59.56 billion in 2030, at a CAGR of 14.5%.

Major players covered in the global veterinary antibiotics industry are Boehringer Ingelheim GmbH, Zoetis, Inc., Merck & Co., Inc., Elanco Animal Health Incorporated, Ceva Santé Animale.

TBRC’s veterinary antibiotics market report is segmented by product into anti-parasitic, anti-bacterial, others, by end user into livestock, companion animals, by route of administration into oral, others.

Veterinary Antibiotics Market 2022 – By Product (Anti-parasitic, Anti-bacterial, Non-steroidal anti-inflammatory drug, Others), By End User (Farm Animals , Companion Animals), By Administration (Premixes, Injections, Oral Powders, Oral Solutions , Others), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides a veterinary antibiotics global market overview, forecast veterinary antibiotics global market size and growth for the whole market , veterinary antibiotics global market segments, geographies, veterinary antibiotics market trends, veterinary antibiotics market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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