Market revenue in 2023 | USD 710.7 million |
Market revenue in 2030 | USD 1,199.3 million |
Growth rate | 7.8% (CAGR from 2023 to 2030) |
Largest segment | Pharmaceuticals |
Fastest growing segment | Biologics |
Historical data | 2018 - 2022 |
Base year | 2023 |
Forecast period | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Biologics, Pharmaceuticals, Medicated Feed Additives |
Key market players worldwide | Zoetis Inc Class A, Boehringer Ingelheim, Merck & Co Inc, Elanco Animal Health Inc, Dechra Pharmaceuticals, Ceva Santé Animale, Phibro Animal Health Corp Class A, Virbac SA, Bimeda Ireland, Biogenesis Bago |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary medicine market will help companies and investors design strategic landscapes.
pharmaceuticals was the largest segment with a revenue share of 66.77% in 2023. Horizon Databook has segmented the South Africa veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The rising incidence of diseases and major outbreaks are key drivers of the country’s market. According to OIE, an outbreak of highly pathogenic avian influenza in poultry was reported in South Africa in April 2021. 29,000 poultry birds were identified to be at risk of contracting the disease, significantly impacting the safety of food stock as well as the productivity of animals.
Between July 2020 and December 2020, 14 outbreaks of low pathogenic avian influenza were recorded across the country with cases exceeding 200 birds. The increasing prevalence of similar diseases across animal types is expected to propel the demand for veterinary medicines, such as pharmaceuticals and biologics.
The growing need to safeguard the health of livestock animals, increasing incidence of diseases in animals, initiatives by market participants, and improving awareness regarding animal health are some of the key drivers of this market.
Horizon Databook provides a detailed overview of country-level data and insights on the South Africa veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into South Africa veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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