The “Human Drugs for Veterinary Use Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The human drugs for veterinary use market is expected to grow at a CAGR of 2.90% from US$3.357 billion in 2021 to US$4.102 billion by 2028.
Animals are being treated with human medications, which may have the same effects on them as they do on humans. While drugs are tested on animals for human use, these consequences are known. Pharmaceutical companies produce more medications for humans than for animals. Additionally, physicians treat animals with extra-label human medicines due to the disparity in industry sales and growth. The painkillers gabapentin and pregabalin (Lyrica), used off-label in dogs and horses, are examples of human-labeled pharmaceuticals that are frequently recommended in veterinary medicine.
Additionally used are narcotics such as fentanyl, morphine, methadone, hydromorphone, ketamine, buprenorphine, and hydrocodone. Tramadol can also be employed; however, because of differences in animal metabolism, bigger doses for animals are prescribed than for humans. Moreover, the rising prevalence of chronic diseases in animals, the growing population of production animals, and an increase in drug habits among pet and poultry business owners, combined with consistent human population growth, are the factors driving the growth.
The trend toward pet ownership is driving the animal health industry.
As a result, there will be an increase in demand for animal medicines and drugs. Additionally, increased financing for research initiatives will fuel industry expansion in the ensuing years and beyond. Antibiotic resistance is a danger caused by the unnecessary use of antibiotics on healthy animals. With rising health problems like heartworm, diabetes, and cancer, the introduction and spread of drug-resistant diseases threaten the ability to treat animals. Further, the use of parasiticides by pet owners for disease management and prevention is likely to increase as cases of parasite-caused illness in dogs, cats, and other animals rise.
For instance, the Pet Food Manufacturers Association (PFMA) reported that 17 million (59%) households in the United Kingdom had pets in 2021, and the PFMA 2022 report predicted that 17.4 million households had pets in 2022. Additionally, the number of dog and cat owners in the United States is 69 million and 45.3 million, respectively, in 2021, as per the American Pet Products Association report.
Further, the governments of numerous nations are putting strict laws along with widespread vaccination and drug campaigns. For instance, in January 2022, the regulation on veterinary medicinal products came into effect. It supports the European Union’s (EU) action towards antimicrobial resistance (AMR) and new measures for promoting innovation and boosting accessibility and availability to safe and high-quality medications for veterinarians, farmers, and pet owners to manage and prevent animal diseases.
The antibiotics segment is expected to hold a considerable market share.
By medication, the human drugs for veterinary use market is divided into antibiotics, non-steroidal anti-inflammatories, opioid pain relievers, chemotherapeutics, and others. Factors such as overcrowding in animal production facilities, poor hygiene practices, and the emergence of antibiotic-resistant bacteria have contributed to the higher incidence of infections.
According to a study published in Veterinary Microbiology, bacterial respiratory infections are common in livestock, causing economic losses and compromising animal welfare. This has increased the demand for effective antibiotics to combat these infections and safeguard animal health. Moreover, Improved diagnostic techniques, including molecular methods and rapid point-of-care tests, have enhanced the ability to identify and diagnose bacterial infections in animals accurately. This facilitates targeted antibiotic therapy and ensures appropriate treatment.
The North American market is expanding because of more veterinary facilities providing reimbursement.
By geography, the global human drug for veterinary use market has been classified into North America, South America, Europe, Asia Pacific, and Middle East, and Africa. The trend of growing companionship is increasing in the US, and the consumption of veterinary products is rising further. The United States became a pioneer in recognizing that animals might react similarly to human medicines. Animals are treated with human medications, which have the same effects on them as they do on humans. Animals are treated with human medicines, which have the same impact on them as they do on humans. Although there is a disparity in the production of drugs for animals and humans, there has been a silver lining in treating these diseases with a similar type of drug. In a study by Stanford recently, 98% DNA of a mouse and a human was found to be similar. The possibility of diseases was also found to be identical. Cases of cancer, diabetes, and heart disease were replicas of humans and mice. After that, the study was published, and the US Federal law permitted using human medicines to treat common illnesses in humans and animals.
- FDA approved the use of penicillin for animals which was earlier used only for humans.
- In April 2022, Elanco Animal Health Incorporated and Ginkgo Bioworks launched a new company, BiomEdit, to make new and innovative treatment products for animals. Ginkgo Biotech is one of the most successful biotech companies in the US.
Key Topics Covered:
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
5. HUMAN DRUGS FOR VETERINARY USE MARKET BY MEDICATION TYPE
5.3. Non-steroidal anti-inflammatories
5.4. Opioid pain relievers
6. HUMAN DRUGS FOR VETERINARY USE MARKET BY DRUG TYPE
6.3. Prednisone and Prednisolone
7. HUMAN DRUGS FOR VETERINARY USE MARKET BY GEOGRAPHY
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Merck & Co
9.3. Boehringer Ingelheim
9.4. Elanco animal health
9.5. Vetoquinol S.A
9.6. Ceva Sante Animale
9.7. Virbac S.A
For more information about this report visit https://www.researchandmarkets.com/r/xgeiq3
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