Investments in Veterinary Medicine Keep Pace with Pet and Livestock Trends

Investments in Veterinary Medicine Keep Pace with Pet and Livestock Trends

Investments in Veterinary Medicine Keep Pace with Pet and Livestock Trends

NEW DELHI--February 20, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Recent trends in the global pet and livestock market have positively affected the market for veterinary medicines and vaccines. An increase in pet ownership has been witnessed due to factors like rising disposable incomes, a growing number of nuclear family households, inclination toward pet companionship, and changing lifestyles. According to Forbes, 66% of U.S. households own at least one pet. The global pet care market is estimated to grow from $246 billion in 2023 to $368 billion by 2030. At the same time, an increase in awareness toward disease prevention in livestock has resulted in increased demand for vaccines and medications.

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