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(MoneyNewsWire.Net, November 28, 2018 ) Veterinary pharmaceutical producers have started using Stem Cell Therapy as an animal medicine due to its excellent capabilities of healing arthritis or animal injury. Stem Cell Therapy is a process of injecting stem cell into the body of the animal to replace the damaged cells of the body. The injected stem cell is unspecialized and acquires the property of the cell that has to be replaced. It also divides itself into as many cells as required by the body. It enables to treat the bone and ligament injury, kidney and liver disease and some kinds of skin diseases.
Animal medicines are used to diagnose, cure, treat or prevent diseases. Veterinary pharmaceutical companies produce both generic and branded drugs.
THE BUSINESS RESEARCH COMPANY VALUED THE ANIMAL MEDICINE GLOBAL MARKET AT $19 BILLION IN 2017
North America was the largest geographic region in the market, accounting for over 40% of the global market. The USA was the largest country accounting for nearly 30% of the global animal medicine market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, advances in diagnostic tools have improved veterinary services. Equipment such as portable x-ray and portable ultrasound scanners have increased the efficiency of veterinary treatment (especially in emergencies due to injury) for all equine/large animal, companion, exotic and mixed animal practices. For example, Wristscan V9, a diagnostic device, is being used for pregnancy tests for animals.
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Zoetis Inc. was the biggest player in the animal medicine market, with revenues of $2.39 in 2016. Zoetis Inc.’s growth strategy is focused on bolstering the diagnostics portfolio. In August 2016 Zoetis acquired Scandinavian Micro Biodevices which added to the portfolio.
The animal medicine market is segmented into Veterinary Pharmaceuticals; Feed Additives.
Veterinary Pharmaceuticals segment includes establishments that sell veterinary medicines for pet animals and farm animals.
- Veterinary Vaccines that sell veterinary vaccines for pet animals and farm animals.
- Veterinary Antibiotics that sell veterinary anti-biotics for pet animals and farm animals.
- Veterinary Parasiticides that sell veterinary paraciticides for pet animals and farm animals.
- Others - Veterinary Pharmaceuticals that sell veterinary medicines for pet animals and farm animals (except vaccines, antibiotics and parasiticides)
Feed Additives are food supplements for farm animals that cannot get enough nutrients from regular meals that the farmers provide and include vitamins, amino acids, fatty acids, and minerals.
- Medical Feed Additives is a food supplements for farm animals that are used as medicines for animals suffering from various diseases are medical feed additives.
- Nutritional Feed Additives is a food supplements for farm animals that have high nutritional value for animals are nutritional feed additives.
Animal Medicine Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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