Back to Newsroom
Back to Newsroom

Over-The-Counter (OTC) Veterinary Drugs Market is Set to Cross US$ 19 Billion at a CAGR of 7.9% from Forecast Period 2023 to 2033 | Future Market Insights, Inc.

Monday, 15 May 2023 09:15 AM

Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / May 15, 2023 / The Over-The-Counter (OTC) Veterinary DrugsMarket is anticipated to expand its roots at a steady CAGR of 7.9% between 2023 and 2033. The market is projected to have a market share of US$ 19.01 Billion by 2033 while it is likely to be valued at US$ 8.8 Billion in 2023.

Future Market Insights, Inc., Monday, May 15, 2023, Press release picture

Higher amount of people adopting dogs and cats as their pets, especially post-pandemic is increasing the component markets. More people treat their pets as their family members. Hence, the care for their nutrition, health, and diseases comes first for the. The legalization of OTC veterinary drugs that can be bought without the vet's prescription is flourishing the market growth.

Get a PDF Sample with Latest Market Insights @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9190

Increased veterinary businesses, animal welfare authorities, and government pet shelter homes are also garnering market growth. Furthermore, the different forms of dosage and increased awareness among people about animal health are projected to flourish the market success.

New products introducing medicine with lower side effects and clean-label packaging are expected to liquidity the market dynamics, making it more available to the retail distributors. Though, online pharmacies are also thriving the market growth due to the easy availability of OTC drugs.

Key Takeaways:

  1. The United States market leads the over-the-counter (OTC) veterinary drugs market in terms of market share in North America. The United States region held a market share of 25.6% by 2022. The growth in this region is attributed to higher pet adoption and government efforts. North America dominates the market as it held a 35% global share in 2022.
  2. Germany's over-the-counter (OTC) veterinary drugs market is another significant market in the European region. The market held a market share of 7.9% in 2022. The growth is attributed to the presence of the major OTC veterinary drug producers. Europe held a global share of 32% in 2022.
  3. The Indian over-the-counter (OTC) veterinary drugs market thrives at a CAGR of 8.3% during the forecast period. The booming growth rate is attributed to the increasing pet adoption and humanization along with the increasing number of OTC veterinary drug producers in the region.
  4. The oral form segment leads the dosage form type segment as it held a market share of 76.40% in 2022. The growth is attributed to lower pain unlike injections, higher effectiveness, and affordability.
  5. Based on the sales channel type, the online pharmacies segment leads as it held a market share of 40% in 2022. The growth is attributed to easy shipping and higher availability.

Ask Our Market Research Experts @ https://www.futuremarketinsights.com/ask-question/rep-gb-9190

Competitive Landscape:

The key vendors work on a smaller number of side effects, enhanced supply chains, and higher affordability. Companies also collaborate to expand their supply chain. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.

Recent Market Development:

  • Boehringer Ingelheim has introduced new products such as aftopor/aftovaxpur/aftovax, Arti-Cell FORTE, Aservo EquiHaler, and Bovela. and dairy cattle.
  • Phibro Animal Health Corporation has revisited its OTC veterinary drugs for swine, beef cattle.

Key Players:

  • Zoetis
  • Boehringer Ingelheim
  • Virbac S.A.
  • Hester Biosciences Ltd.
  • Merck Animal Health
  • Elanco Animal Health
  • Ceva Santé Animale
  • Vetoquinol S.A.
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC
  • Kyoritsu Seiyaku Corporation
  • AlphaVet Animal Health Ltd.
  • AdvaCare Pharma
  • Alphafacts Health Solution
  • Bimeda Animal Health Inc.

For more Report Customization, connect with us at @ https://www.futuremarketinsights.com/customization-available/rep-gb-9190

Key Segments Covered:

By Drug Class:

  • NSAIDs
  • Antihistamines
  • Decongestants & Bronchodilators
  • Antibacterial
  • H2 Receptor Antagonists
  • Nutrients & Supplements
  • Glucocorticoids
  • Lubricant eye drops & artificial tears
  • Anti-parasitic
  • Antidiarrheal agents
  • Others

By Product Form:

  • Oral
  • Injectable
  • Topical
  • Others

By Sales Channel:

  • Veterinary Hospitals
  • Veterinary Clinics
  • Retail Pharmacies
  • Hypermarkets & Supermarkets
  • Online Pharmacies
  • Veterinary Shops

Key Regions Covered:

  • North America
    • United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Japan
  • APEJ
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of Asia Pacific Excluding Japan (APEJ)
  • MEA
    • GCC Countries
    • Israel
    • South Africa
    • The Middle East and Africa (MEA)

Get your report at a flat 20% discounted price now.

Table of Content (ToC):

1. Executive Summary | Over-The-Counter (OTC) Veterinary Drugs Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

Request a Complete ToC of this report with figures @ https://www.futuremarketinsights.com/toc/rep-gb-9190

Explore FMI's related ongoing Coverage in Healthcare Market Domain:

Leukotriene Modifiers Market Size: According to estimates, the sports medicine market will be worth US$ 6.8 Billion in 2022. expanding at a CAGR of 5.3%, reaching US$ 11.4 Billion by 2032. Body reconstruction products would control a market share of around 81.3% in 2021, according to the estimate.

Cardiogenic Shock Treatment Market Share: The global Cardiogenic Shock Therapy Market is projected to reach a market size of US$ 0.9 Billion in 2023 and US$ 1.77 Billion by 2033, growing at a CAGR of 7% during that time.

Intrauterine Insemination Devices Market Growth: The market for intrauterine insemination products is anticipated to be worth US$ 40.5 Million in 2023 and US$ 57.5 Million by 2033. Devices for intrauterine insemination are anticipated to be in high demand, with a 3.6% CAGR.

Blood Volume Analyzer Market Demand: In 2022, it was projected that the market for blood volume analyzers will be worth US$ 4.4 Billion. This market is anticipated to reach US$ 4.81 Billion by 2023 and US$ 11.82 Billion by 2033 with a consistent CAGR of 9.4% from 2023 to 2033.

Bronchiectasis Therapeutic Market Opportunity: In 2022, it was projected that the global bronchiectasis treatment market would be worth US$ 481.71 Million. This market is anticipated to reach US$ 511 Million by 2023 and US$ 932.54 Million by 2033, with a consistent CAGR of 6.2% from 2023 to 2033.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs

SOURCE: Future Market Insights, Inc.

Topic:
Company Update
Back to newsroom
Back to Newsroom

Contact Us Today


If you have questions or want to learn more about our products, our team’s here to help!

Share by: