Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Global Animal Sedative Market Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global animal sedative market has witnessed remarkable growth, with the market size estimated at USD 71.23 million in 2022, reaching USD 80.47 million in 2023. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 13.43% over the forecast period, reaching USD 195.28 million by 2030.
This growth is driven by various factors, including the increasing awareness among farmers about veterinary procedures, rapid growth in R&D expenditure for improving animal safety and care, and rising government involvement in enhancing animal welfare. However, the market faces challenges like limited availability and awareness of animal sedatives and stringent government regulations.
Market Dynamics
Drivers:
- Rising Awareness Among Farmers: The growing awareness among farmers about veterinary procedures and the importance of animal health is fueling the demand for animal sedatives to ensure safe and stress-free handling of animals during medical procedures.
- Expenditure on R&D: The increased spending on research and development activities aimed at improving animal safety and care is driving the development of advanced and effective animal sedatives.
- Government Involvement: Governments' increasing focus on improving animal welfare and safety is leading to supportive policies and regulations, further boosting the adoption of animal sedatives.
Restraints:
- Limited Availability and Awareness: The limited availability and lack of awareness about animal sedatives in certain regions pose challenges to the market's growth.
Opportunities:
- Growing R&D Investments: The growing investments in the research and development of animal sedatives are expected to lead to the development of more innovative and efficient products, expanding the market's potential.
- Application in Medical Research: The use of animal sedatives in medical research, such as for conducting experiments and studies, presents new opportunities for market growth.
Challenges:
- Stringent Government Regulations: Stringent regulations related to the use of animal sedatives pose challenges for manufacturers and may impact market growth.
Market Segmentation & Coverage
The market is segmented based on type, route of administration, and region.
- Type: The animal sedative market is studied across various types, including Acepromazine, Butorphanol, Detomidine, Romifidine, and Xylazine. The Romifidine segment is projected to witness significant market share during the forecast period.
- Route of Administration: The market is studied based on the route of administration, including Oral and Parenteral. The Oral segment is projected to witness significant market share during the forecast period.
- Region: The market is analyzed across key regions such as Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa is expected to witness significant market share during the forecast period.
Market Statistics
The report considers the period from 2018 to 2021 as historical years, with 2022 as the base year, and 2023 as the estimated year. The forecast period extends from 2024 to 2030.
FPNV Positioning Matrix
The FPNV Positioning Matrix is a valuable tool for evaluating vendors in the global animal sedative market. It assesses key metrics within Business Strategy and Product Satisfaction to help users make informed decisions based on their specific needs. Vendors are categorized into four quadrants: Forefront (F), Pathfinder (P), Niche (N), or Vital (V), representing varying levels of success.
Market Share Analysis
The Market Share Analysis offers insights into vendors' performance in the market space by comparing their contributions to overall revenue, customer base, and other key metrics. This analysis helps companies understand their competitiveness in the market and the level of competition they face for market share. Additionally, it highlights the accumulation, fragmentation dominance, and amalgamation traits observed in any given sector during the base year period studied.
Other Key Insights
- Market Trends
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Regulatory Framework
Key Attributes
| Report Attribute | Details |
| No. of Pages | 182 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $80.47 Million |
| Forecasted Market Value (USD) by 2030 | $195.28 Million |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
Key Topics Covered
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Animal Sedative Market, by Type
7. Animal Sedative Market, by Route of Administration
8. Americas Animal Sedative Market
9. Asia-Pacific Animal Sedative Market
10. Europe, Middle East & Africa Animal Sedative Market
11. Competitive Landscape
12. Competitive Portfolio
Companies Profiled
- Bayer AG
- Boehringer Ingelheim International GmbH
- Ceva Sante Animale
- Chanelle Pharma Group
- Dechra Pharmaceuticals PLC
- Elanco Animal Health Inc.
- Konig S.A.
- Modern Veterinary Therapeutics LLC
- Orion Corporation
- Ouro Fino Saude Animal Group
- Randlab Pty. Ltd.
- Troy Laboratories Pty. Ltd.
- Vetoquinol S.A.
- Virbac S.A.
- Zoetis, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jr1oe4
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