Veterinary health & medicine deal with diagnosis, treatment and prevention of diseases or disorders in animals. By animal types, most of the veterinary healthcare companies segregate their businesses by food producing animals and companion animals. Of these types, food producing animals capture majority of the market, with companion animal segment has higher growth potential, specifically in pharmaceuticals & vaccines. By products, veterinary medicine market can be categorized into pharmaceuticals, biological and medicated feed additives (MFAs). MFA segment dominates the market followed by pharmaceuticals and biological.
Emergence of new types of diseases in animals and their transfer to humans through animal food product consumption and proximity are expected to escalate veterinary healthcare industry growth globally. In addition, increasing demand of animal farming and healthcare is expected to drive higher investments in development of innovative therapies and technologies which can improve productive efficiency.
Generally, in absence of relevant approved label veterinary medicines, human drugs are used for animals, which is referred to as crossover drugs or Extra-label Drug Use (ELDU). The major reason for lack of approved animal drugs in the market is draining animal drug pipeline because of increasing cost of veterinary research. Generally, extra label drugs used in veterinary are generic drugs.
Currently, industry is witnessing decline in R&D activity for new chemical entities (NCE) in veterinary medicines segment, which is propelling growth for already existing matured drugs. Animal drugs market is witnessing a growing inclination towards development of micro-encapsulation techniques and packaging innovations. Another trend visible is increasing demand by consumers for transparent labelling of natural & processed products in animal feed additives to enable proper product communication.
ASDReport.com has a good collection of reports on veterinary healthcare & medicines. The reports cover various diseases, therapies and drugs related to veterinary like animal genetics, anticoccidial, anti-inflammatories, veterinary diagnostics, animal vaccines and much more.