Number of pages: 100 | Report Format: PDF | Published date: May 03, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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 |
According to the deep-dive market assessment study by Growth Plus Reports, the global veterinary euthanasia drugs market is expected to register a revenue CAGR of 3.2% during the forecast period from 2023 to 2031.
Veterinary Euthanasia Drugs Market Fundamentals
Veterinary euthanasia is the human ending of an animal's life, usually to prevent it from experiencing pain and suffering. The causes of euthanasia are incurable (and particularly painful) illnesses or disorders, a lack of funds to continue caring for the animal, or laboratory testing procedures. Commonly used drugs for euthanasia in veterinary medicine include pentobarbital. It is administered intravenously, and the animal typically loses consciousness within seconds and stops breathing shortly after. T-61 is a combination of three drugs (embutramide, mebezonium iodide, and tetracaine hydrochloride) used for euthanasia in some countries. It is administered intravenously or intramuscularly and causes rapid and painless death. The use of veterinary euthanasia drugs is also increasing in livestock and other farm animals due to the need for humane slaughter practices.
The global veterinary euthanasia drugs industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the veterinary euthanasia drugs market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the Veterinary Euthanasia Drugs market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Veterinary Euthanasia Drugs Market Dynamics
Several factors, including increasing pet ownership, rising animal healthcare expenditure, and growing awareness about animal welfare, drive the growth of the global veterinary euthanasia drugs market. Additionally, the use of veterinary euthanasia drugs is increasing in livestock and other farm animals due to the need for human slaughter practices. The key companies are investing in research and development to improve the efficacy and safety of their euthanasia drugs. They also focus on expanding their product portfolio to capture a larger market share.
Veterinary Euthanasia Drugs Market Ecosystem
Veterinary Euthanasia Drugs Market, by Animal Type
Veterinary Euthanasia Drugs Market, by Route of Administration
Veterinary Euthanasia Drugs Market by Route of Administration
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Injectable euthanasia drugs segment accounts for the largest revenue share in the global veterinary euthanasia drugs market. Among this segment, the intravenous route is the most preferred route of drug administration. The drug is injected directly into a vein, typically in the front leg, and causes the animal to lose consciousness quickly before stopping the heart. These drugs are the most used mode of administration, including pentobarbital and T-61. These drugs cause deep sleep and cause less pain in animals.
The inhalant route of administration accounts for a reasonable revenue share in the global market. It includes drugs such as carbon dioxide, which are also used but are less commonly used in veterinary practice. This route of administration is more commonly used for laboratory animals or small animals.
The market segmentation sections provide the veterinary euthanasia drugs market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of industry into subgroups depending on characteristics such as animal type, route of administration, and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential veterinary euthanasia drugs market demand opportunities.
Veterinary Euthanasia Drugs Market by Region
North America accounts for a significant revenue share of the global veterinary euthanasia drugs market. The market is primarily driven by the increasing pet ownership and the growing demand for animal welfare. According to the American Pet Products Association, pet ownership in the United States increased to 67% of households in 2019. Pet owners increasingly seek high-quality veterinary care, including euthanasia services when necessary.
The veterinary euthanasia drugs market in the Asia Pacific region is expected to experience significant growth in the coming years. The increasing pet adoption rates and the rising prevalence of age-related diseases in pets are expected to drive the demand for euthanasia drugs in the region. Additionally, the growing awareness about animal welfare and the increasing availability of veterinary services are expected to boost the demand for veterinary euthanasia drugs in Asia.
Latin America region is expected to experience significant growth in the global veterinary euthanasia drugs market. The increasing pet adoption rates, the rise in the number of veterinary clinics and hospitals, and the growing awareness about animal welfare are some major drivers of market growth.
Based on the regions, the global veterinary euthanasia drugs market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of veterinary euthanasia drugs industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level veterinary euthanasia drugs market overview.
Key Components of the Report
Veterinary Euthanasia Drugs Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Veterinary Euthanasia Drugs Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report
Veterinary euthanasia drugs are used with the intent to end the suffering of animals in humane and compassionate ways. Drugs used commonly are barbiturates, T-61, and Alpha-2 agonists.
North America will have the largest revenue share in the global veterinary euthanasia drugs market size during the forecast period from 2023 to 2031.
The global veterinary euthanasia drug is expected to grow at 3.2% revenue CAGR during the forecast period from 2023 to 2031.
The veterinary euthanasia drugs market has been growing steadily in recent years, with an increasing number of pet owners seeking end-of-life care for their pets.
The market for veterinary euthanasia drugs is expected to grow due to the increasing awareness about humane euthanasia, driving the demand for safe and effective euthanasia drugs.
The use of veterinary euthanasia drugs is strictly regulated, and the regulatory environment can vary from country to country. The regulations regarding the use of these drugs can be complex and may vary depending on the animal species and the intended use.
The key companies are actively involved in developing and commercializing veterinary euthanasia drugs, with strategic partnerships and collaborations to expand their market reach and capabilities.
The increasing pet adoption rates and the rising prevalence of age-related diseases in pets are expected to drive the global veterinary euthanasia drugs market.
Zoetis Inc., Merck & Co. Inc., Boehringer Ingelheim GmbH, and Eli Lilly and Company are a few key players in the global veterinary euthanasia drugs market.
*Insights on financial performance are subject to the availability of information in the public domain