Brazil Pet Veterinary Drugs Market Projected to register CAGR 7.1% during the forecast period 2016–2024

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Brazil Pet Veterinary Drugs Market Projected to
register CAGR 7.1 during the forecast period
20162024
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Brazil Pet Veterinary Drugs Market By Oral
Drugs(Drug, Vaccines, Inactivated Vaccines,
Attenuated Vaccines, Recombinant Vaccines, Feed
Additives, Amino Acids, Antibiotics) By
Conditions(Anti-Infectives, Anti-Inflammatory,
Parasiticides) By Route of Administration(Oral,
Parenteral, Topical) By Distribution
Channel(Veterinary Hospitals, Veterinary Clinics,
Drug Stores) By States(Sao Paulo, Rio De Janeiro,
Bahia, Rio Grande Do Sul, Parana, Pernambuco,
Ceara, Para, Maranhao, Santa Catarina, Goias,
Paraiba, Espirito Santo, Amazonas, Rio Grande Do
Norte, Alagoas, Mato Grosso, Piaui, Distrito
Federal, Mato Grosso Do Sul, Sergipe, Tocantins,
Roraima) - Global Forecast to 2024 Veterinary
drugs are basically used for the treatment of
numerous diseases in pets. Further, rise in the
number of pet ownership has been witnessed in
recent years. Likely, the number of pet ownership
is anticipated to increase as companion animals
provide positive health benefits such as low
blood pressure, reduced anxiety, affectionate
response and improved well-being. Moreover, pet
owners are more concerned about health and
welfare of their pets owing to the continued
strengthening of the bond between pet owners and
their companion animals. These factors
demonstrate the willingness of animal owners to
pay for veterinary drugs, considering the welfare
of the animals.
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Further, the companies are working to develop
innovative veterinary drugs for the treatment of
animals. Likely, rising number of serious
diseases among pet animals such as foot and mouth
diseases,  ringworm and others are encouraging
the companies to develop and introduce innovative
animal drugs in order to increase their lives and
improve the quality of life. These innovative
products will boost the demand for veterinary
drug products. Moreover, penetration of internet
into the life of the people has changed the way
of business. Various pharmacy companies are
supplying the pet veterinary drugs and vaccines
to the consumers through online shopping. The
online platforms serve a dual purpose of selling
as well as advertisement of the
product. Veterinary drug manufacturers are
heavily investing in RD and working on the
development of innovative and efficacy pet
veterinary drugs. The presence of supportive
government regulation and increasing ownership of
pet is creating opportunities for the market
players to introduce new and innovative products
into the market. Furthermore, the top companies
are committed to massive RD in order to ensure
their large term competitiveness.
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Market Size and Forecast The Brazil pet
veterinary drugs market is expected to expand at
a CAGR of 7.1 during the forecast period of
2017-2024. Further, the demand for parasiticides
is expected to dominate in the conditions segment
and is anticipated to have a share of more than
41 by 2024. Moreover, by vaccines segment, the
demand for recombinant vaccines is estimated to
remain highest due to the prevalence of pet
diseases coupled with increasing number of pet
population in Brazil. Further, availability of
diversified parasiticides drugs is providing
specific solutions to the diseases in pets. In
Brazil, State of Rio Grande Do Sul dominated the
Brazil pet veterinary drugs market in 2016.
Further, the state is projected to continue its
dominance over the forecast period i.e.
2017-2024.
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Sao Paulo is projected to witness a robust growth
in pet veterinary drugs market by the end of 2024
owing to the high adoption rate of pets in the
state. Further, continuous strengthened bond
between pet and pet owners and high disposable
income is believed to increase the demand for pet
veterinary drugs in the Sao Paulo. Further, Santa
Catarina, Parana, Sao Paulo and Rio Grande Do Sul
are expected to be the biggest market for Brazil
pet veterinary drugs over the forecast period
2017-2024. Market Segmentation Our in-depth
analysis of the Brazil pet veterinary drugs
includes the following segments Growth Drivers
and Challenges Rising incidences of infections
and diseases in pet animals are the major factors
behind the growth of pet veterinary drugs market.
Further, pet diseases and infections have the
risk of being transmitted to humans. This factor
is spurring the demand for pet veterinary drugs
as associated infections and diseases can be
life-threating. Moreover, the infection rate
among pet animals has been continuously
increasing. This is expected to increase the
demand for the antibacterial and anti-parasitic
veterinary drugs in the upcoming years.
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Furthermore, the trend of adoption of pets is
increasing the risk of diseases transmitted to
humans by animals. Rising government regulations
to protect humans from animal transferable
disease are opening the opportunities for the pet
pharmaceutical drugs manufacturers to develop and
introduce various products to control the
disease. In addition to this, defined standards
by the government healthcare agencies ensure the
quality, safety and efficacy of animal health
care products and to prevent the penetration of
substandard veterinary drugs in the market. This
factor is increasing the market revenue of
organized players and encouraging them to develop
and launch new and innovative animal healthcare
products. Moreover, approval of various drugs by
the government pharmaceutical licensing agency in
the previous years indicates the attractiveness
of animal healthcare business segment. Further,
this has given rise to set up of various
veterinary research institutes in the region.
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However, the high cost of the development of the
pet veterinary drugs further increase the overall
cost of drugs which is hampering the growth of
the pet veterinary drugs market. Further, recent
economic recession in Brazil has slowed the
growth of pet veterinary drugs market in the
country. Moreover, lack of awareness about animal
welfare medications, zoonosis medications and
food safety medications is likely to dampen the
market growth of pet veterinary drugs market
across the globe. Key Players Bayer Animal
Health, Company Overview, Key Product Offerings,
Business Strategy, SWOT Analysis, Financials,
Ceva Animal Healthcare, Elanco Animal Health,
Merck Ltd., Zoetis Animal Healthcare, Virbac do
Brasil Industria e Comercio Ltda, Merial Animal
Health, Vetnil, UCBVET, J.A. Animal Health
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