Over the Counter Veterinary Drugs Market Growth Size | 2031
Over the Counter Veterinary Drugs Market Growth Size | 2031
Segments - Over-the-Counter Veterinary Drugs Market by Drug Class (Antihistamines, Antibacterial, Anti-parasitic, NSAIDs, Nutrients & Supplements, Antidiarrheal Agents, and Others), Product Form (Injectable, Oral, Topical, and Others), Sales Channel (Clinics, Hospitals, Online Pharmacies, Retail Pharmacies, and Hypermarkets & Supermarkets), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5086
| 4.3 Rating
| 71 Reviews
| 201 Pages
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Report Description
The global over-the-counter veterinary drugs market size was USD 8.33 Bn in 2022 and is likely to reach USD 18.15 Bn by 2031, expanding at a CAGR of 8.2% during 2023–2031. High demand for pet supplements and increasing awareness of antibiotic resistance are projected to fuel the market.
Over-the-counter (OTC) drugs are medications that can purchased without a prescription from a healthcare professional. These medications are typically available at pet supply stores, online retailers, and pharmacies.
OTC veterinary drugs include flea and tick products, preventatives, dewormers, ear cleaners, and joint supplements. These drugs are helpful for treating minor health problems in pets; however, it is important to remember that they are not a substitute for proper veterinary care.
Before administering any OTC medication to a pet, it is important to read the instructions carefully and consult with a veterinarian to ensure that it is safe and appropriate for the pet’s individual needs. Additionally, it is important to store all medications out of reach of children and pets and to dispose of any unused medications properly.
Over-the-Counter Veterinary Drugs Market Dynamics
Major Drivers
Rising adoption of pets among the aging population is driving the demand for pet healthcare services, which is expected to drive the market. A standard shift from Rx to OTC by major pharmaceutical manufacturers is likely to propel the market.
Restraints
Implementation of strict regulations regarding OTC veterinary drugs and substance abuse-related issues restrain the over-the-counter veterinary drugs market. Several issues with OTC drugs are concerned with improper substance abuse and animal diagnosis, which in turn, hampers the over-the-counter (OTC) veterinary drugs market during the forecast period. This discourages the adoption of numerous OTC veterinary drugs.
Opportunities
Increasing in personal disposable income is anticipated to create lucrative opportunities for the market players. A paradigm shift among consumer behavior is expected to create lucrative opportunities in the market during the forecast period.
Scope of Over-the-Counter Veterinary Drugs Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Over-the-Counter Veterinary Drugs Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Drug Class (Antihistamines, Antibacterial, Anti-parasitic, NSAIDs, Nutrients & Supplements, Antidiarrheal Agents, and Others), Product Form (Injectable, Oral, Topical, and Others), and Sales Channel (Clinics, Hospitals, Online Pharmacies, Retail Pharmacies, and Hypermarkets & Supermarkets) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Zoetis; Virbac; Phibro Animal Health Corporation; Merck & Co., Inc.; Kyoritsuseiyaku Corporation; HESTER BIOSCIENCES LIMITED; Elanco; Ceva; Boehringer Ingelheim International GmbH; Bimeda, Inc.; ALPHA FACTS; and AdvaCare Pharma |
Over-the-Counter Veterinary Drugs Market Segment Insights
Based on drug class, the over-the-counter veterinary drugs market is divided into antihistamines, antibacterial, anti-parasitic, NSAIDs, nutrients & supplements, antidiarrheal agents, and others. The anti-parasitic segment is expected to expand at a significant pace during the projection period. It is a group of medicines that are used in the management and treatment of infections by parasites including helminths, protozoa, and ectoparasites.
On the basis of product form, the global market is segregated into injectable, oral, topical, and others. The oral segment is projected to expand at a considerable CAGR during the forecast period. Feed additives are commonly purchased by pet owners, and are majorly available in oral forms.
On the basis of sales channel, the market is segmented into clinics, hospitals, online pharmacies, retail pharmacies, and hypermarkets & supermarkets. The online pharmacies segment is estimated to expand at a robust pace during the forecast period, due to the increasing demand for online delivery. High demand for home delivery of over-the-counter drugs among pet owners has increased the number of online pharmacies.
In terms of region, the global over-the-counter veterinary drugs market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period. In the US, the increasing number of online pharmacies and expansion of the pet care industry are boosting the demand for OTC veterinary drugs in the region. According to the North American Pet Health Insurance Association (NAPHIA), around 4.41 Million pets were insured in the US in 2021.
Segments
The global over-the-counter veterinary drugs market has been segmented on the basis of
Drug Class
- Antihistamines
- Antibacterial
- Anti-parasitic
- NSAIDs
- Nutrients & Supplements
- Antidiarrheal Agents
- Others
Product Form
- Injectable
- Oral
- Topical
- Others
Sales Channel
- Clinics
- Hospitals
- Online Pharmacies
- Retail Pharmacies
- Hypermarkets & Supermarkets)
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Zoetis
- Virbac
- Phibro Animal Health Corporation
- Merck & Co., Inc.
- Kyoritsuseiyaku Corporation
- HESTER BIOSCIENCES LIMITED
- Elanco
- Ceva
- Boehringer Ingelheim International GmbH
- Bimeda, Inc.
- ALPHA FACTS
- AdvaCare Pharma
Competitive Landscape
Players in the global over-the-counter veterinary drugs market include Zoetis; Virbac; Phibro Animal Health Corporation; Merck & Co., Inc.; Kyoritsuseiyaku Corporation; HESTER BIOSCIENCES LIMITED; Elanco; Ceva; Boehringer Ingelheim International GmbH; Bimeda, Inc.; ALPHA FACTS; and AdvaCare Pharma.
These players adopt strategies including mergers, acquisitions, product launches collaboration, partnerships, and production expansion to expand their consumer base globally.
- In August 2020, Merck Animal Health completed its acquisition of IdentiGEN for aquaculture and livestock. IdentiGEN provides an evidence-based animal traceability solution called DNA TraceBack.
- In September 2020, Boehringer Ingelheim acquired China-based Ruipeng Group (NRP Group), a fast-growing business that offers pet owners veterinary care and many other services.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Over-the-Counter Veterinary Drugs Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Over-the-Counter Veterinary Drugs Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Over-the-Counter Veterinary Drugs Market - Supply Chain
4.5. Global Over-the-Counter Veterinary Drugs Market Forecast
4.5.1. Over-the-Counter Veterinary Drugs Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Over-the-Counter Veterinary Drugs Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Over-the-Counter Veterinary Drugs Market Absolute $ Opportunity
5. Global Over-the-Counter Veterinary Drugs Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Over-the-Counter Veterinary Drugs Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Over-the-Counter Veterinary Drugs Demand Share Forecast, 2019-2026
6. North America Over-the-Counter Veterinary Drugs Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Over-the-Counter Veterinary Drugs Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Over-the-Counter Veterinary Drugs Demand Share Forecast, 2019-2026
7. Latin America Over-the-Counter Veterinary Drugs Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Over-the-Counter Veterinary Drugs Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Over-the-Counter Veterinary Drugs Demand Share Forecast, 2019-2026
8. Europe Over-the-Counter Veterinary Drugs Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Over-the-Counter Veterinary Drugs Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Over-the-Counter Veterinary Drugs Demand Share Forecast, 2019-2026
9. Asia Pacific Over-the-Counter Veterinary Drugs Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Over-the-Counter Veterinary Drugs Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Over-the-Counter Veterinary Drugs Demand Share Forecast, 2019-2026
10. Middle East & Africa Over-the-Counter Veterinary Drugs Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Over-the-Counter Veterinary Drugs Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Over-the-Counter Veterinary Drugs Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Over-the-Counter Veterinary Drugs Market: Market Share Analysis
11.2. Over-the-Counter Veterinary Drugs Distributors and Customers
11.3. Over-the-Counter Veterinary Drugs Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Zoetis
11.4.2. Virbac
11.4.3. Phibro Animal Health Corporation
11.4.4. Merck & Co., Inc.
11.4.5. Kyoritsuseiyaku Corporation
11.4.6. HESTER BIOSCIENCES LIMITED
11.4.7. Elanco
11.4.8. Ceva
11.4.9. Boehringer Ingelheim International GmbH
11.4.10. Bimeda, Inc.
11.4.11. ALPHA FACTS
11.4.12. AdvaCare Pharma
Methodology
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