According to the latest report by IMARC Group, titled "India Veterinary Medicine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India veterinary medicine market is expected to grow at a CAGR of 7.73% during 2022-2027. Veterinary medicine is mainly concerned with the treatment and prevention of various diseases that occur in animals. Along with this, it involves the development of vaccines and drugs and controlling the transmission of zoonotic diseases to humans. Besides this, it also includes other services, such as animal transportation and procurement, laboratory testing, surgery and perioperative care and animal biosecurity and surveillance. As a result, it is widely practiced across academic institutions, military services and private and government industries that are generally maintained by veterinary technicians and nurses. Due to the increasing production of livestock animals, there has been a considerable rise in the demand for veterinary medicine across India.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Veterinary Medicine Market Trends:
The market in India is primarily driven by the increasing prevalence of chronic diseases in animals. Coupled with the rising concerns regarding animal health and the growing pet humanization trend, this is creating a positive market outlook. Moreover, the growing investments by private and public agencies to upgrade the overall veterinary medicine infrastructure is acting as a major growth-inducing factor. In addition to this, extensive research and development (R&D) activities conducted by key players for introducing safe and improved animal treatment methods and vaccines are providing a boost to the market growth. Apart from this, continual technological advancements in the manufacturing processes and diagnosing animal health are impacting the market favorably. Other factors, including the easy accessibility to sophisticated diagnostics treatments and veterinary services, the rising strategic collaboration between leading players in an attempt to expand their market position and the inflating disposable income levels of the masses, are also positively influencing the market across India.
- Based on the product, the market has been classified into drugs (anti-infective, anti-inflammatory and parasiticide), vaccines (inactivated vaccines, attenuated vaccines and recombinant vaccines) and medicated feed additives (amino acids and antibiotics).
- On the basis of the animal type, the market has been bifurcated into companion and livestock animals.
- Based on the route of administration, the market has been categorized into oral, parenteral and topical.
- On the basis of the distribution channel, the market has been segregated into veterinary hospitals pharmacies, retail veterinary pharmacies and online pharmacies.
- Based on the region, the market has been divided into North India, West and Central India, South India and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Ani Healthcare Pvt Ltd, Ashish Life Science Pvt Limited, Century Pharmaceuticals Ltd., GMT Pharma International, MarchVET, SSS Pharmachem Pvt.Ltd., Stanex Drugs and Chemicals Pvt Ltd, Vetbiochem India Private Limited, Virbac Animal Health India Pvt Ltd (Virbac), Zenley and Zovix Pharmaceuticals.
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