Newark, New Castle, USA, May 11, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the global market for in 2022, and it is expected to increase at a revenue CAGR of 3.2% by 2031.
The global market for veterinary euthanasia drugs was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Veterinary euthanasia is the human termination of an animal's life, usually to save it from pain and suffering.
Key Takeaways:
- Increasing pet ownership is driving the market revenue share.
- The rising awareness about animal welfare is driving the market demand.
- The increasing use of veterinary euthanasia drugs is raising the market revenue growth rapidly.
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Veterinary Euthanasia Drugs Market Scope
Report Attribute | Details |
CAGR | 3.2% |
Base Year for Estimation | 2022 |
Forecast Period | 2023 to 2031 |
Historical Year | 2021 |
Segments Covered | Animal Type, Route of Administration, and Region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Veterinary Euthanasia Drugs Market:
- In May 2019, Euthasol vet, a concentrated solution of pentobarbital sodium, was introduced by Dechra Veterinary Products and can be used on dogs, cats, rodents, rabbits, cattle, sheep, goats, horses, and mink. Euthasol vet is a clear blue liquid that is approved for intravenous, intracardial, and intraperitoneal administration.
Competitive Landscape
A list of the prominent players operating in the global market for veterinary euthanasia drugs includes:
- Eli Lilly and Company
- Vetoquinol SA
- Dechra Pharmaceuticals PLC
- Zoetis Inc.
- Boehringer Ingelheim GmbH
- Merck & Co. Inc.
Market Drivers and Restraints:
The global veterinary euthanasia drugs market revenue is driven by the rising preference for pet ownership, awareness of animal health, and improved efficacy and efficiency of veterinary drugs.
However, due to strict regulations governing the use of euthanasia drugs, the availability of alternative methods for animal euthanasia, and ethical concerns associated with euthanasia, the veterinary euthanasia drugs market revenue growth is expected to be restrained.
Market Segmentation:
- Based on the animal type, the global veterinary euthanasia drugs market is segmented into companion animals and farm animals.
- The companion animals are sub-segmented into cats, dogs, and horses. Whereas, farm animals are segmented into cattle, pigs, and sheep.
- Based on the route of administration, the global veterinary euthanasia drugs market is segmented into injectable euthanasia drugs, inhalant euthanasia drugs, and others.
- The injectable euthanasia drugs are sub-segmented into intravenous, intramuscular, and subcutaneous.
Segmentation By Route of Administration
Based on routes of administration, the injectable euthanasia drugs segment dominates the global veterinary euthanasia drugs market with the largest revenue share. The intravenous route is the most preferred drug administration method in this group. The significant revenue share is attributed to it being the preferable route, causing deep sleep and causing no pain.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global veterinary euthanasia drugs market. This large revenue share is because pet adoption rates are rising, as is the prevalence of age-related disorders in pets.
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Report Coverage
Growth Plus Reports analyzed the global market for veterinary euthanasia drugs in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL VETERINARY EUTHANASIA DRUGS MARKET - ANALYSIS & FORECAST, BY ANIMAL TYPE
- Companion Animals
- Cats
- Dogs
- Horses
- Farm Animals
- Cattle
- Pigs
- Sheep
- Companion Animals
- GLOBAL VETERINARY EUTHANASIA DRUGS MARKET - ANALYSIS & FORECAST, BY ROUTE OF ADMINISTRATION
- Injectable Euthanasia Drugs
- Intravenous
- Intramuscular
- Subcutaneous
- Inhalant Euthanasia Drugs
- Others
- Injectable Euthanasia Drugs
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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