Veterinary Market Research Report 2021-2031
The Veterinary Market is expected to register a CAGR of 7.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Animal Type (Production, and Companion). The report further presents analysis based on the Product (Biologics, Pharmaceuticals, and Medicated Feed Additives). The report is segmented by Mode of Delivery (Oral, Parenteral, and Others). The report further presents analysis based on the End-use (Reference Laboratories, Point-of-care testing/In-house testing, Veterinary Hospitals and Clinics, and Others).The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Veterinary Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Veterinary Market Segmentation
Animal Type- Production
- Companion
- Biologics
- Pharmaceuticals
- Medicated Feed Additives
- Oral
- Parenteral
- Others
- Reference Laboratories
- Point-of-care testing/In-house testing
- Veterinary Hospitals and Clinics
- Others
- Reference Laboratories
- Point-of-care testing/In-house testing
- Veterinary Hospitals and Clinics
- Others
Strategic Insights
Veterinary Market Growth Drivers- Increasing Pet Ownership and Companion Animal Spending: The rise in Pet Ownership and Expenditure with Companion Animals has been one of the most dominant causes of market growth in veterinary services due to the marked increase in the ownership (pet population) of pets, especially by consumers of the newer generation-Millennials and Generation Z. This has led to a high increase in pet spending, which, in turn, gives rise to soaring demand for veterinary services. The current figures released by the American Pet Products Association (APPA) on pet ownership show that it took a steady high jump to fantastically over afford 70% pet ownership amongst households in the U.S. This indicates a trend of increased frequency of visits to a veterinarian and thereby an increase in overall spending on preventive care, treatments, and specialized services.
- Advancements in Veterinary Technology: It provides a revolutionizing future of the maximum enhancement and various bold new applications in veterinary technology, including but not limited to telemedicine, diagnostic tools, and surgical devices. Radical advances in veterinary technologies are putting within reach of the veterinary profession a more feasible, accurate, and affordable care. Digital X-rays, ultrasounds, and laboratory diagnostics will link the veterinarians to detect conditions at their early stages thus leading to better outcomes and quality life for animals. The merger of artificial intelligence and machine learning with diagnostics and treatment plans will provide the essential support for personalizing care at affordable levels thus paving ways for sector growth.
- Increased Emphasis on Animal Health and Welfare: Due to a rise in sensitization towards animal welfare and responsible pet ownership, there is an increased demand for superior veterinary medicine. Pet owners are willing to spend on more veterinary services that offer them treatment alongside basic medical care. These include preventive services, nutritional advice, behavioral counseling, and pain management. With the massive growth of pet insurance, many of these owners have found it possible to use advanced treatment methods on their animals. This has further improved the veterinary service market.
- Growing Adoption of Telemedicine and Virtual Consultations: The telemedicine and virtual consultation services were in full force in the veterinary industry but went up to another notch with COVID-19. Pet owners have been able to avail virtual appointments with relative ease for regular check-ups, follow-ups, or any minor health condition. Many veterinary clinics have introduced online vet consultations, which include helping owners evaluate symptoms and advice on treatment options without requiring the animals to come in. As with almost everything else, this will continue with improvements in digital platforms and telecommunication technologies.
- Integrated Health and Wellness Plan: Becoming more prevalent in the field of health is the offering of integrated health services to provide all aspects of medical care and wellness programs such as nutrition counseling, fitness, oral health, and behavioral health. Preventive care for animals is now available at most veterinary clinics apart from being restricted to emergency treatment. This trend is taking place because many pet owners are now aware of longer-term health management.
- Personalized Veterinary Care: Another trend for veterinary care is to be customized. The following increased availability of data from clinical records, genetic testing, and health monitoring devices will snowball this trend. In case of an animal's treatment, veterinarians are now providing medicines customized according to the genetics of the animal, depending on medication adjustment as done in human medicine, and sometimes predicting future health problems through analytics. The part which stands out is the relationship built over putting in an effort to develop such individualisation between owners and their pets as against opening up to outcome improvements.
- Pet Care Insurance: Pet insurance is still an unexplored opportunity in many markets, especially in developing nations. With increasing pet owner inclination towards spending on the health of their pets, pet insurance provides them with means to make veterinary access and treatment affordable. This can open concerted avenues for insurance companies and veterinary practices to come together to offer comprehensive plans for healthcare, mitigating costs incurred from expensive treatment and surgeries.
- Emerging Markets and Veterinary Services: Pet ownership is increasing, especially in developing countries, so there is a good opportunity to extend veterinary services to these countries. There is still sufficient growth in pet ownership in many Asian, Latin American, and Middle Eastern countries without developing their veterinary infrastructures adequately. Those who develop veterinary products, services, and training in such markets will benefit from the growing demand. The service for livestock veterinary specialization such as dairy, poultry, and aquaculture is another potential avenue for expansion in rural areas.
- Veterinary e-commerce: The growing presence of e-commerce has enabled veterinary practices to market medications, feed, and vitamins for pets through the Internet. E-commerce convenience uses channels open to both veterinarians and pet owners where many purchases can be made in private and the client often receives what they want without needing to visit a veterinarian. More pet owners will mostly turn to e-shopping for veterinary pharmaceuticals, so the flow of this e-commerce should increase.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Veterinary Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Veterinary Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Players operating in the market are Merck Animal Health, Ceva Sante Animale, Vetoquinol S.A., Zoetis, Boehringer Ingelheim GmbH, Elanco, Nutreco N.V., Virbac, Kindred Biosciences, Inc., Biogenesis Bago
Oral segment, by mode of delivery, dominated the market in 2023.
North America region dominated the Veterinary market in 2023.
Pet Care Insurance Growth act as a opportunity for growth of the market in forecast period.
The Veterinary Market is estimated to witness a CAGR of 7.4% from 2023 to 2031
The major factors driving the Veterinary market are:
1. Increasing Pet Ownership and Companion Animal Spending
2. Advancements in Veterinary Technology
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Veterinary Market - By Animal Type
1.3.2 Veterinary Market - By Product
1.3.3 Veterinary Market - By Mode of Delivery
1.3.4 Veterinary Market - By End-use
1.3.5 Veterinary Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VETERINARY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. VETERINARY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VETERINARY MARKET - GLOBAL MARKET ANALYSIS
6.1. VETERINARY - GLOBAL MARKET OVERVIEW
6.2. VETERINARY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. VETERINARY MARKET - REVENUE AND FORECASTS TO 2028 - ANIMAL TYPE
7.1. OVERVIEW
7.2. ANIMAL TYPE MARKET FORECASTS AND ANALYSIS
7.3. PRODUCTION
7.3.1. Overview
7.3.2. Production Market Forecast and Analysis
7.3.3. Poultry Market
7.3.3.1. Overview
7.3.3.2. Poultry Market Forecast and Analysis
7.3.4. Swine Market
7.3.4.1. Overview
7.3.4.2. Swine Market Forecast and Analysis
7.3.5. Cattle Market
7.3.5.1. Overview
7.3.5.2. Cattle Market Forecast and Analysis
7.3.6. Sheep and Goats Market
7.3.6.1. Overview
7.3.6.2. Sheep and Goats Market Forecast and Analysis
7.3.7. Fish Market
7.3.7.1. Overview
7.3.7.2. Fish Market Forecast and Analysis
7.4. COMPANION
7.4.1. Overview
7.4.2. Companion Market Forecast and Analysis
7.4.3. Dogs Market
7.4.3.1. Overview
7.4.3.2. Dogs Market Forecast and Analysis
7.4.4. Cats Market
7.4.4.1. Overview
7.4.4.2. Cats Market Forecast and Analysis
7.4.5. Horses Market
7.4.5.1. Overview
7.4.5.2. Horses Market Forecast and Analysis
7.4.6. Others Market
7.4.6.1. Overview
7.4.6.2. Others Market Forecast and Analysis
8. VETERINARY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. BIOLOGICS
8.3.1. Overview
8.3.2. Biologics Market Forecast and Analysis
8.3.3. Vaccine Market
8.3.3.1. Overview
8.3.3.2. Vaccine Market Forecast and Analysis
8.3.4. Others Market
8.3.4.1. Overview
8.3.4.2. Others Market Forecast and Analysis
8.4. PHARMACEUTICALS
8.4.1. Overview
8.4.2. Pharmaceuticals Market Forecast and Analysis
8.5. MEDICATED FEED ADDITIVES
8.5.1. Overview
8.5.2. Medicated Feed Additives Market Forecast and Analysis
9. VETERINARY MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF DELIVERY
9.1. OVERVIEW
9.2. MODE OF DELIVERY MARKET FORECASTS AND ANALYSIS
9.3. ORAL
9.3.1. Overview
9.3.2. Oral Market Forecast and Analysis
9.4. PARENTERAL
9.4.1. Overview
9.4.2. Parenteral Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. VETERINARY MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
10.1. OVERVIEW
10.2. END-USE MARKET FORECASTS AND ANALYSIS
10.3. REFERENCE LABORATORIES
10.3.1. Overview
10.3.2. Reference Laboratories Market Forecast and Analysis
10.4. POINT-OF-CARE TESTING/IN-HOUSE TESTING
10.4.1. Overview
10.4.2. Point-of-care testing/In-house testing Market Forecast and Analysis
10.5. VETERINARY HOSPITALS AND CLINICS
10.5.1. Overview
10.5.2. Veterinary Hospitals and Clinics Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. VETERINARY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Veterinary Market Overview
11.1.2 North America Veterinary Market Forecasts and Analysis
11.1.3 North America Veterinary Market Forecasts and Analysis - By Animal Type
11.1.4 North America Veterinary Market Forecasts and Analysis - By Product
11.1.5 North America Veterinary Market Forecasts and Analysis - By Mode of Delivery
11.1.6 North America Veterinary Market Forecasts and Analysis - By End-use
11.1.7 North America Veterinary Market Forecasts and Analysis - By Countries
11.1.7.1 United States Veterinary Market
11.1.7.1.1 United States Veterinary Market by Animal Type
11.1.7.1.2 United States Veterinary Market by Product
11.1.7.1.3 United States Veterinary Market by Mode of Delivery
11.1.7.1.4 United States Veterinary Market by End-use
11.1.7.2 Canada Veterinary Market
11.1.7.2.1 Canada Veterinary Market by Animal Type
11.1.7.2.2 Canada Veterinary Market by Product
11.1.7.2.3 Canada Veterinary Market by Mode of Delivery
11.1.7.2.4 Canada Veterinary Market by End-use
11.1.7.3 Mexico Veterinary Market
11.1.7.3.1 Mexico Veterinary Market by Animal Type
11.1.7.3.2 Mexico Veterinary Market by Product
11.1.7.3.3 Mexico Veterinary Market by Mode of Delivery
11.1.7.3.4 Mexico Veterinary Market by End-use
11.2. EUROPE
11.2.1 Europe Veterinary Market Overview
11.2.2 Europe Veterinary Market Forecasts and Analysis
11.2.3 Europe Veterinary Market Forecasts and Analysis - By Animal Type
11.2.4 Europe Veterinary Market Forecasts and Analysis - By Product
11.2.5 Europe Veterinary Market Forecasts and Analysis - By Mode of Delivery
11.2.6 Europe Veterinary Market Forecasts and Analysis - By End-use
11.2.7 Europe Veterinary Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Veterinary Market
11.2.7.1.1 Germany Veterinary Market by Animal Type
11.2.7.1.2 Germany Veterinary Market by Product
11.2.7.1.3 Germany Veterinary Market by Mode of Delivery
11.2.7.1.4 Germany Veterinary Market by End-use
11.2.7.2 France Veterinary Market
11.2.7.2.1 France Veterinary Market by Animal Type
11.2.7.2.2 France Veterinary Market by Product
11.2.7.2.3 France Veterinary Market by Mode of Delivery
11.2.7.2.4 France Veterinary Market by End-use
11.2.7.3 Italy Veterinary Market
11.2.7.3.1 Italy Veterinary Market by Animal Type
11.2.7.3.2 Italy Veterinary Market by Product
11.2.7.3.3 Italy Veterinary Market by Mode of Delivery
11.2.7.3.4 Italy Veterinary Market by End-use
11.2.7.4 Spain Veterinary Market
11.2.7.4.1 Spain Veterinary Market by Animal Type
11.2.7.4.2 Spain Veterinary Market by Product
11.2.7.4.3 Spain Veterinary Market by Mode of Delivery
11.2.7.4.4 Spain Veterinary Market by End-use
11.2.7.5 United Kingdom Veterinary Market
11.2.7.5.1 United Kingdom Veterinary Market by Animal Type
11.2.7.5.2 United Kingdom Veterinary Market by Product
11.2.7.5.3 United Kingdom Veterinary Market by Mode of Delivery
11.2.7.5.4 United Kingdom Veterinary Market by End-use
11.2.7.6 Rest of Europe Veterinary Market
11.2.7.6.1 Rest of Europe Veterinary Market by Animal Type
11.2.7.6.2 Rest of Europe Veterinary Market by Product
11.2.7.6.3 Rest of Europe Veterinary Market by Mode of Delivery
11.2.7.6.4 Rest of Europe Veterinary Market by End-use
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Veterinary Market Overview
11.3.2 Asia-Pacific Veterinary Market Forecasts and Analysis
11.3.3 Asia-Pacific Veterinary Market Forecasts and Analysis - By Animal Type
11.3.4 Asia-Pacific Veterinary Market Forecasts and Analysis - By Product
11.3.5 Asia-Pacific Veterinary Market Forecasts and Analysis - By Mode of Delivery
11.3.6 Asia-Pacific Veterinary Market Forecasts and Analysis - By End-use
11.3.7 Asia-Pacific Veterinary Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Veterinary Market
11.3.7.1.1 Australia Veterinary Market by Animal Type
11.3.7.1.2 Australia Veterinary Market by Product
11.3.7.1.3 Australia Veterinary Market by Mode of Delivery
11.3.7.1.4 Australia Veterinary Market by End-use
11.3.7.2 China Veterinary Market
11.3.7.2.1 China Veterinary Market by Animal Type
11.3.7.2.2 China Veterinary Market by Product
11.3.7.2.3 China Veterinary Market by Mode of Delivery
11.3.7.2.4 China Veterinary Market by End-use
11.3.7.3 India Veterinary Market
11.3.7.3.1 India Veterinary Market by Animal Type
11.3.7.3.2 India Veterinary Market by Product
11.3.7.3.3 India Veterinary Market by Mode of Delivery
11.3.7.3.4 India Veterinary Market by End-use
11.3.7.4 Japan Veterinary Market
11.3.7.4.1 Japan Veterinary Market by Animal Type
11.3.7.4.2 Japan Veterinary Market by Product
11.3.7.4.3 Japan Veterinary Market by Mode of Delivery
11.3.7.4.4 Japan Veterinary Market by End-use
11.3.7.5 South Korea Veterinary Market
11.3.7.5.1 South Korea Veterinary Market by Animal Type
11.3.7.5.2 South Korea Veterinary Market by Product
11.3.7.5.3 South Korea Veterinary Market by Mode of Delivery
11.3.7.5.4 South Korea Veterinary Market by End-use
11.3.7.6 Rest of Asia-Pacific Veterinary Market
11.3.7.6.1 Rest of Asia-Pacific Veterinary Market by Animal Type
11.3.7.6.2 Rest of Asia-Pacific Veterinary Market by Product
11.3.7.6.3 Rest of Asia-Pacific Veterinary Market by Mode of Delivery
11.3.7.6.4 Rest of Asia-Pacific Veterinary Market by End-use
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Veterinary Market Overview
11.4.2 Middle East and Africa Veterinary Market Forecasts and Analysis
11.4.3 Middle East and Africa Veterinary Market Forecasts and Analysis - By Animal Type
11.4.4 Middle East and Africa Veterinary Market Forecasts and Analysis - By Product
11.4.5 Middle East and Africa Veterinary Market Forecasts and Analysis - By Mode of Delivery
11.4.6 Middle East and Africa Veterinary Market Forecasts and Analysis - By End-use
11.4.7 Middle East and Africa Veterinary Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Veterinary Market
11.4.7.1.1 South Africa Veterinary Market by Animal Type
11.4.7.1.2 South Africa Veterinary Market by Product
11.4.7.1.3 South Africa Veterinary Market by Mode of Delivery
11.4.7.1.4 South Africa Veterinary Market by End-use
11.4.7.2 Saudi Arabia Veterinary Market
11.4.7.2.1 Saudi Arabia Veterinary Market by Animal Type
11.4.7.2.2 Saudi Arabia Veterinary Market by Product
11.4.7.2.3 Saudi Arabia Veterinary Market by Mode of Delivery
11.4.7.2.4 Saudi Arabia Veterinary Market by End-use
11.4.7.3 U.A.E Veterinary Market
11.4.7.3.1 U.A.E Veterinary Market by Animal Type
11.4.7.3.2 U.A.E Veterinary Market by Product
11.4.7.3.3 U.A.E Veterinary Market by Mode of Delivery
11.4.7.3.4 U.A.E Veterinary Market by End-use
11.4.7.4 Rest of Middle East and Africa Veterinary Market
11.4.7.4.1 Rest of Middle East and Africa Veterinary Market by Animal Type
11.4.7.4.2 Rest of Middle East and Africa Veterinary Market by Product
11.4.7.4.3 Rest of Middle East and Africa Veterinary Market by Mode of Delivery
11.4.7.4.4 Rest of Middle East and Africa Veterinary Market by End-use
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Veterinary Market Overview
11.5.2 South and Central America Veterinary Market Forecasts and Analysis
11.5.3 South and Central America Veterinary Market Forecasts and Analysis - By Animal Type
11.5.4 South and Central America Veterinary Market Forecasts and Analysis - By Product
11.5.5 South and Central America Veterinary Market Forecasts and Analysis - By Mode of Delivery
11.5.6 South and Central America Veterinary Market Forecasts and Analysis - By End-use
11.5.7 South and Central America Veterinary Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Veterinary Market
11.5.7.1.1 Brazil Veterinary Market by Animal Type
11.5.7.1.2 Brazil Veterinary Market by Product
11.5.7.1.3 Brazil Veterinary Market by Mode of Delivery
11.5.7.1.4 Brazil Veterinary Market by End-use
11.5.7.2 Argentina Veterinary Market
11.5.7.2.1 Argentina Veterinary Market by Animal Type
11.5.7.2.2 Argentina Veterinary Market by Product
11.5.7.2.3 Argentina Veterinary Market by Mode of Delivery
11.5.7.2.4 Argentina Veterinary Market by End-use
11.5.7.3 Rest of South and Central America Veterinary Market
11.5.7.3.1 Rest of South and Central America Veterinary Market by Animal Type
11.5.7.3.2 Rest of South and Central America Veterinary Market by Product
11.5.7.3.3 Rest of South and Central America Veterinary Market by Mode of Delivery
11.5.7.3.4 Rest of South and Central America Veterinary Market by End-use
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL VETERINARY MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. VETERINARY MARKET, KEY COMPANY PROFILES
14.1. MERCK ANIMAL HEALTH
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. CEVA SANTE ANIMALE
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. VETOQUINOL S.A.
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. ZOETIS
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. BOEHRINGER INGELHEIM GMBH
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. ELANCO
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. NUTRECO N.V.
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. VIRBAC
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. KINDRED BIOSCIENCES, INC.
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. BIOGENESIS BAGO
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
* Above given report scope is tentative, and may change during the study process as per the research requirement.
* List of companies provided under ‘Company Profile’ chapter is tentative and may change during the course of the study. This list is customizable as per the client requirements.
* Financial information would be provided only for the public companie
1. Merck Animal Health
2. Ceva Sante Animale
3. Vetoquinol S.A.
4. Zoetis
5. Boehringer Ingelheim GmbH
6. Elanco
7. Nutreco N.V.
8. Virbac
9. Kindred Biosciences, Inc.
10. Biogenesis Bago
11. Indian Immunologicals Ltd.
12. Neogen Corporation
13. Hester Biosciences
14. Philbro Animal Health
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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