Chile Veterinary Drugs Market Outlook
According to a new report by Expert Market Research titled “Chile Veterinary Drugs Market Size, Share, Analysis, Report, Demand, Price 2023-2028″, the Chile veterinary drugs market reached a value of USD 207.24 million in 2022. Aided by the increasing concern for companion animals and expanding veterinary care network, the market is projected to further grow at a CAGR of 8.50% between 2023 and 2028 to grow significantly by 2028.
Veterinary drugs, encompassing antibiotics, antifungal agents, vaccines, and anti-infectives, play an integral role in the diagnosis, prevention, and treatment of diseases in animals. These drugs are not just pivotal for the overall health and wellbeing of animals, including pets, livestock, and wildlife, but are also critical for ensuring the quality of animal-derived products such as meat, milk, and eggs, thereby helping in safeguarding public health.
The increasing demand for enhanced animal healthcare stands as the key driver catalysing the Chile veterinary drugs market growth. With an escalating number of Chilean households adopting pets, the demand for efficacious veterinary care is on the rise. Concurrently, the livestock industry, a cornerstone of the Chilean economy, mandates extensive utilisation of veterinary drugs. These drugs are critical in preventing and controlling animal diseases, thereby ensuring the safety and quality of animal products.
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The augmented awareness of zoonotic diseases and the role of veterinary drugs in their prevention and control is further fuelling the Chile veterinary drugs market expansion. The COVID-19 pandemic has accentuated the criticality of animal health in protecting public health, leading to intensified efforts towards the development and deployment of effective veterinary drugs.
Veterinary drugs are witnessing an expanding range of applications across various animal species, which contributes to the Chile veterinary drugs market development. These drugs find wide-ranging uses from pets such as dogs and cats to farm animals like cattle, sheep, and poultry, addressing an array of health issues.
Progress in veterinary pharmacology has also been pivotal to the growth of the Chile veterinary drugs market. Innovations in the field include the advent of personalised medicine for pets, long-acting drug formulations, and targeted therapies for specific conditions, all of which have contributed to an enhanced demand for veterinary drugs.
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Chile Veterinary Drugs Market Segmentation
The market can be divided based on product, animal, route of administration, and distribution channel.
Market Breakup by Product
- Medicinal Feed Additives
Market Breakup by Animal
Market Breakup by Route of Administration
Market Breakup by Distribution Channel
- Veterinary Hospitals and Clinics
- Pharmacies and Drug Stores
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Chile veterinary drugs companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Boehringer Ingelheim GmbH
- Elanco Animal Health Inc.
- Zoetis Inc.
- Agricola Nacional SAC E I.
- Laboratory Drag Pharma Chile Invetec S.A.
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