Veterinary Medicine Industry - Regional Synopsis
Regionally, the veterinary medicine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America industry is set to hold largest revenue share by 2037, on the back of escalating adoption of the animals in the region. According to the USDA, there were around 103 million cattle and 32.05 million beef cows in the United States in July 2020, with the number likely to increase significantly in the upcoming years. The region comprises improved and ultra-modern infrastructure which facilitates veterinary research and development. The economists and scientists in the region are exploring innovative ways to improve client loyalty and satisfaction. Such practices are expected to propel the market during the forecast period.
The Europe region is also expected to offer promising opportunities for the growth of the market during the forecast period. Since the region has stringent policies for animal health the people are cautious regarding regular check-ups and vaccinations. Also, the research and development initiatives are extraordinary in the region and companies keep launching advanced medicines for animal care.
