The key factors responsible for the increasing requirement for veterinary drugs are the continuously growing consumption of milk products and meat, thriving trend of pet adoption, and increasing prevalence of zoonotic diseases.

Production animals, held over 52% revenue share, and it will grow at a significant growth rate in the years to come, because of the increasing requirement for protein-rich food all over the world. Production animals are reared for their skin, wool, milk, and meat.

Companion animals will grow at a higher rate, of in excess of 8%, by the end of this decade, because of the increasing prevalence of chronic diseases in animals.

Additionally, companion animals get more-specialized care and medical attentiveness from owners than the animals used for production, which is a key factor responsible for the growth of this category in the industry.

Browse detailed report - Animal Pharmaceuticals Market Analysis and Demand Forecast Report

The e-commerce category will grow at a rate of around 7.5% in the future. This will be because of the growing rate of digitization in the business of animal health, shifting preference of consumer toward online shopping, increasing acceptance of veterinary telemedicine, and increasing use of e-commerce platforms as the preferred platform for accusation of goods.

North America dominated the animal pharmaceuticals market, with a revenue share of over 30% in the past, and it will grow at a significant rate in the near future. This is because of the increasing pet ownership and high living standards all over the region.

It is due to the increasing adoption of milk and meat products, the demand of animal pharmaceuticals will be on the rise, in the years to come.