IMARC Group’s latest research report, titled “India Veterinary Medicine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the India veterinary medicine market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India veterinary medicine market size reached US$ 758.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,181.2 Million by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.
India Veterinary Medicine Market Overview:
Veterinary medicine is a branch of science that deals with the prevention, control, diagnosis, and treatment of diseases affecting animal health. It involves the manufacturing of several medicines to cover a wide variety of prophylactic and therapeutic purposes that promotes the well-being of animals used for food production, inhibits the spread of zoonotic disorders from animal species to humans, and offer a secure global food supply. Additionally, it addresses the health needs of numerous animals, including cats, dogs, horses, cows, sheep, chickens, birds, and ornamental fish. It also aids in providing advanced dental, medical and surgical care, which includes insulin injections, root canals, hip replacements, cataract extractions, and pacemakers.
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India Veterinary Medicine Market Demand Analysis:
The growing trend of pet adoption is driving the veterinary medicine market in India. Moreover, the rising concerns among pet owners due to the prevalence of zoonotic diseases are providing a boost to the demand. Furthermore, the increasing investment by the government of India to tackle the issue of livestock health is propelling the market. Along with this, continuous developments in advanced diagnostic imaging, novel therapies, nuclear and regenerative medicines, and specialized surgeries in numerous vet hospitals are creating a positive market outlook. Other factors, including continual developments in animal vaccines and the growing investments by leading players in extensive research and development (R&D) activities, are also influencing the market growth across India.
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Key Market Segmentation:
Breakup by Product:
- Drugs
- Anti-infective
- Anti-inflammatory
- Parasiticide
- Vaccines
- Inactivated Vaccines
- Attenuated Vaccines
- Recombinant Vaccines
- Medicated Feed Additives
- Amino Acids
- Antibiotics
Breakup by Animal Type:
- Companion Animals
- Livestock Animals
Breakup by Route of Administration:
- Oral
- Parenteral
- Topical
Breakup by Distribution Channel:
- Veterinary Hospitals Pharmacies
- Retail Veterinary Pharmacies
- Online Pharmacies
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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