Animal pharmaceutical refers to drugs to diagnose, cure and treat veterinary disease and disorders of a particular type. The increasing population of production animals and companion animals is supporting the growth of the global animal pharmaceuticals market. The production animals are nurtured by consumers for milk and meat related products; whereas, the companion animals are adopted for office or house guards and companionship. Animals have been a major part of human life, and awareness for their health and well-being has never been more important. Increasing demand for higher efficiency of livestock production and growing human and animal bond and pet ownership is supporting the growth of animal pharmaceuticals market. The increasing worldwide population and increasing per capita income in emerging economies have led to increase in demand for livestock production. All these factors collectively drive the growth of the global animal pharmaceuticals market.

The increasing transfer of diseases from animals to humans, through companionship and consumption of products sourced from them are resulting in increased demand for animal pharmaceuticals. The legislations and protest of animal institutions and activists, and excess use of antibiotics in production animals are some of the factors restraining the growth of the animal pharmaceuticals market. Most of the animal pharmaceuticals companies are concentrating on research and development activities to offer better pharmaceutical products for the prevailing diseases.

The global animal pharmaceuticals market is consolidated with top four companies generating 60% revenue of the global market. The change in regulations has led to the growth of generic and over-the-counter (OTC) drugs, which threatens the sales of branded pharmaceuticals.

Geographically, North America being a home to large number of production and companion animals is the largest contributor to the revenues of animal pharmaceutical market. It is also expected to hold largest share among the various regions during the forecast period.

Some of the major competitors in the global animal pharmaceuticals market include Merck & Co. Inc., Zoetis Inc., Virbac SA, Vetoquinol S.A., Perrigo Company Plc, Boehringer Ingelheim GmbH, Sanofi, Bayer AG and Eli Lilly & Company.