Global Human Drugs for Veterinary Use Market is projected to grow at a good CAGR during the forecast period of 2018-2023
The recent study on the global human drugs for veterinary use market covers an in-depth analysis of the market on the basis of medication type, drug type, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraints during the forecast period 2018-2023. According to the report titled “Global Human Drugs for Veterinary Use Market – Forecasts from 2018 to 2023”, the market is expected to surge at a good CAGR by 2023.
The report is segmented by medication type as Antibiotics, Non-steroidal anti-inflammatories, Opioid pain relievers, Chemotherapeutics, and Others; by drug type as Penicillin, Prednisone and Prednisolone, Diazepam, and Others and by geography as North America (USA, Canada, Mexico, and Others), South America (Brazil, Argentina, and Others), Europe (Germany, France, United Kingdom, Spain, and Others), Middle East and Africa (Saudi Arabia, Israel, and Others), and Asia Pacific (China, Japan, South Korea, India, and Others). Some drugs for use as veterinary medicines are taken by humans as well. These are also known as human drugs for veterinary use which include antibiotics, non-steroidal anti-inflammatories, and opioid pain relievers among others. The growing number of veterinary practitioners, and growing pet healthcare services are driving the growth of the global human drugs for veterinary use market during the forecast period. In addition, rising funding research programmes will further provide an opportunity to emanating market growth during the forecast period and beyond.
Growing number of veterinary practitioners is boosting the growth of the global human drugs for veterinary use market during the forecast period.
The modern veterinary profession is changing continuously which include the greater use of technology where more and more veterinary professionals are opting to specialize. This is due to the fact that the current pet owners’ expectations are rising where they are interested in receiving personalized attention with a high quality of services at competitive prices. Also, veterinary practices owned by corporates is poised to increase leading to certain benefits including economies of scale, efficient protocols, and standardization of care. Human drugs for veterinary use hold importance in treating pets or companion animals in addition to farm animals and may require a Veterinarian prescription as well owing to the risks of side-effects from medicines used for humans and may cause deleterious effects.
United States from the North American region holds a dominant share in the market
North America human drugs for veterinary use market is expected to hold the largest market share during the forecast period owing to the highest health spending of the United States among the developed nations. Also, there is a high number of pet population in the United States, in addition to the growing number of veterinarians which include around 65 percent of females, more in number than males. Furthermore, certain agencies in the United States like the American Veterinary Medical Association, AVMA, headquartered in Schaumburg, IL is working efficiently with its counterparts worldwide aiming towards advancements in veterinary sciences and practice in order to improve animal and human health.
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