Report Overview

Saudi Arabia Veterinary Medicine Market - Industry Trends & Forecast Report 2028

Saudi Arabia's Veterinary Medicine market expected to grow at a CAGR of 5.8% during the forecast period 2022-2028. The growth of the Saudi Arabia veterinary medicine market can be attributed to the rising awareness related to animal health, an increase in love for pets. In addition, the growing export of animal and animal-based protein products to foreign countries coupled with rising veterinary hospitals also leads to prompt market growth. The increased prevalence of chronic diseases in pets is projected to be the main driver of the Saudi Arabian market for veterinary medications. Advancements and innovation drive the Saudi Arabian veterinary medicines market in upcoming years.

Veterinary Medicine- Overview

Veterinary medicine is a branch of medicine that deals with the diagnoses, prevention, and treatment of diseases in animals. The span of veterinary medicine is broad, covering both wild and domestic animals. Veterinary medicine is practiced in both ways, with or without medical supervision, but primarily professional care happens in the presence of veterinary doctors. With the increased animal husbandry and rising awareness about animal health, there is crucial growth in the veterinary medicine market.

Saudi Arabia Veterinary Medicine Market Forecast and Trends

Growth Drivers

Increased love for pets

There has been a significant rise in the adoption of pets. People adopt or buy pets for companionship and are passionate about keeping them along with them. The animal's eating habits have been changing drastically. Animals are starting to have a secondary lifestyle and getting restricted in houses, which results in lifestyle disorders like obesity, thus leading to significant growth in the veterinary medicine market. The increasing prevalence of chronic conditions in pets is also expected to drive market growth.

Rising government support and initiatives

The government's many initiatives to aid private veterinary medicine businesses are expected to boost business in upcoming years. The Saudi Arabian government offers services like technical assistance, long-term, interest-free loans, incentives, free seeds and fertilizer, and cheap water, fuel, and energy to encourage the agricultural sector. The Saudi Arabian veterinary pharmaceutical industry participants are predicted to have better opportunities to enter the market due to various policies helping the companies expand their business. Farmers are also permitted to import machinery and raw materials duty-free to increase production. The government supports the export of corn, which is frequently used as poultry feed. The private sector has significantly assisted the nation's agriculture industry expansion.

The rise in the number of veterinary hospitals & clinics in Saudi Arabia

An increase in the number of clinics and veterinary hospitals in Saudi Arabia is expected to drive the market in the forecast period. The increase in pet ownership in Saudi Arabia has substantially impacted the market for veterinary treatments. As a result, there is now more demand in the area for veterinary clinics. Additionally, the market is anticipated to grow as a result of the increase in veterinary pharmacies. In addition, increased sales of over-the-counter pharmaceuticals and other items are projected to present a profitable potential for market participants. For instance, in July, 2022 Saudi Arabia Qassim Gov. Prince Faisal bin Mishaal, opened the world's largest camel hospital. The veterinary hospitals are aiming at technological advancement and various methodologies to provide the best treatment to the animals in Saudi Arabia. Constant development in the services and facilities like central laboratories provided with modern devices offered are expected to thrust the market's growth.

Restraints

High cost of veterinary healthcare services coupled with the lack of pet insurance

Two major factors have been restraining the growth of the veterinary medicine market in Saudi Arabia. One of them is the high cost of healthcare services and medicine, while the other is the lack of pet insurance. Veterinary treatment is very expensive in Saudi Arabia; sometimes, the treatment expense can even be much costlier than human treatment. High treatment cost includes appointments, medications, feed additives, and vaccinations etc. There is not much scope for veterinary hospitals to provide discounts to the general population as their net profit is very less, and besides the operational cost is very high in veterinary hospitals and clinics. Hence aforementioned factor anticipated to hamper market growth in upcoming years.

Impact of COVID-19 on Saudi Arabia Veterinary Medicine Market

Covid-19 has immensely hampered the growth of the veterinary medicine market as all the supply chains got affected due to strict restrictions on trade. Veterinary food and medicine consumption declined as a result of imposed lockdown by governments globally. To maintain hygiene and lower the risk of contamination, pet parents are urged to maintain a safe distance from their animals. The livestock industry has also felt the effect. There has been severe difficulty in moving live animals and their products like meat, milk, and eggs due to state-wise lockdowns in the world. There was little capacity to achieve critical production inputs and a very short supply of laborers and professionals.

Saudi Arabia Veterinary Medicine Market - By Animal type

Based on animal type, the Saudi Arabia veterinary medicine market is fragmented into companion animals and livestock animals. Companion animals segmentation is further classified into Dogs, Cats, and livestock animals are bifurcated into cattle, sheep, aquatic, poultry, and others. The world's expanding demand for proteins is the reason that livestock animals have seized the lion's share of the market. Due to the rise in chronic conditions, the companion animal segment is anticipated to experience the quickest CAGR throughout the projection period. Cats and dogs make up the additional sub-segments of companion animals. Due to the growing need for cutting-edge alternatives to traditional treatments for canines with chronic conditions, the dogs market had a sizable revenue share.

Saudi Arabia Veterinary Medicine Market – Product Type

Based on product type, the veterinary medicine market is segmented into drugs, vaccines, and medicated feed additives. The drugs segment is further classified into antibiotics and parasiticides. Drugs held a largest market share in 2021, owing to the increased prevalence of food-borne diseases. The vaccine segment is anticipated to grow in the forecasted period due to the enhanced usage of companion animals and livestock for the prevention of diseases. In the past, epidemics have led to huge losses in the breeding industry, increasing the demand for vaccines to prevent the animals from such epidemics. To maintain animal health, medicated feed additives segment is also expected to grow over the forecast period.

Competitive Landscape

The key players operating in Saudi Arabia's veterinary medicine market are Boehringer Ingelheim, Ceva Sante Animale, Dechra Pharmaceuticals Plc, Elanco, Al-Takamul Agriculture Co, Vetoquinol S.A., Virbac, Zoetis Health, Saudi Pharmaceutical Industries (SPI), The Arab Pesticides and Veterinary Drugs Mfg, Merck Animal Health (MSD), Montajat Pharmaceuticals, Pharmacare Limited, MAS Group, Philbro Animal Health, and other prominent players. The Saudi Arabia Veterinary Medicine market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics are used, including strategic alliances, agreements, mergers, and partnerships.

Recent Development

• In June 2021, Merck Animal Health acquired the assets of Livestock Improvement Corporation Automation Ltd from a New Zealand-based farmer group. LICA is a leader in automation & technology for the dairy industry.

Scope of the Report

By Animal Type

• Companion Animals

1. Dog

2. Cat

3. Horses

4. Others

• Livestock Animals

1. Cattle

2. Sheep & Goats

3. Aquatic

4. Poultry

5. Others

By Product Type

• Drugs

• Antibiotics

• Parasiticides

• Others

• Vaccines

• Medicated Feed Additives

By Source

• Domestic

• International

By Route of Administration

• Oral

• Parenterals

• Others

By End User

• Veterinary Clinics

• Veterinary Hospitals

• Pharmacies

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Veterinary Medicine Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increased love for pets
         2. The rise in the number of veterinary hospitals & clinics in Saudi Arabia
      2. Restraints
         1. High cost of veterinary healthcare services coupled with the lack of pet insurance
         2. Others
      3. Opportunity
         1. Rising government support and initiatives
         2. Others
      4. Challenges
         1. Impact of COVID-19
         2. Others
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Veterinary Medicine Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Animal
         1. Companion Animals
            1. Dogs
            2. Cat
            3. Horses
            4. Others
         2. Livestock Animals
            1. Cattle
            2. Sheep
            3. Aquatic
            4. Poultry
            5. Others
      2. By Product
         1. Drugs
            1. Antibiotics
            2. Parasiticides
            3. Others
         2. Vaccines
            1. Inactivated Vaccines
            2. Attenuated Vaccines
            3. Recombinant Vaccines
            4. Others
         3. Medicated Feed Additives
            1. Amino Acids
            2. Antibiotics
            3. Others
      3. By Source
         1. Domestic
         2. International
      4. By Route of Administration
         1. Oral
         2. Parenterals
         3. Others
      5. By End User
         1. Veterinary Clinics
         2. Veterinary Hospitals
         3. Pharmacies
         4. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Saudi Arabia Veterinary Medicine Company Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership, and others)
6. Impact of Covid-19 on Saudi Arabia Veterinary Medicine Market
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Boehringer Ingelheim
   2. Dechra Pharmaceuticals Plc
   3. Elanco
   4. Virbac
   5. Vetoquinol S.A.
   6. Zoetis Health
   7. Saudi Pharmaceutical Industries (SPI)
   8. The Arab Pesticides and Veterinary Drugs Mfg. Co.
   9. Merck Animal Health (MSD)
   10. Pharmacare Limited
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation

List of Figures

Figure 1: Saudi Arabia Veterinary Medicine Market Segmentation

Figure 2: Saudi Arabia Veterinary Medicine Market Value Chain Analysis

Figure 3: Company Market Share Analysis, 2021

Figure 4: Saudi Arabia Veterinary Medicine Market Size, By Value (USD Million), 2018-2028

Figure 5: Saudi Arabia Veterinary Medicine Market Share, By Animal, By Value, 2018-2028

Figure 6: Saudi Arabia Veterinary Medicine Market Share, By Product, By Value, 2018-2028

Figure 7: Saudi Arabia Veterinary Medicine Market Share, By Source, By Value, 2018-2028

Figure 8: Saudi Arabia Veterinary Medicine Market Share, By Route of Administration, By

Figure 9: Saudi Arabia Veterinary Medicine Market Share, By End User, By Value, 2018-2028

List of Tables

Table 1: Saudi Arabia Veterinary Medicine Market Size, By Animal, By Value, 2018-2028

Table 2: Saudi Arabia Veterinary Medicine Market Size, By Product, By Value, 2018-2028

Table 3: Saudi Arabia Veterinary Medicine Market Size, By Source, By Value, 2018-2028

Table 4: Saudi Arabia Veterinary Medicine Market Size, By Route of Administration, By Value, 2018-2028

Table 5: Saudi Arabia Veterinary Medicine Market Size, By End User, By Value, 2018-2028

Table 6: Boehringer Ingelheim Company Overview

Table 7: Boehringer Ingelheim

Table 8: Dechra Pharmaceuticals Plc Company Overview

Table 9: Dechra Pharmaceuticals Plc Financial Overview

Table 10: Elanco Company Overview

Table 11: Elanco Financial Overview

Table 12: Virbac Company Overview

Table 13: Virbac Financial Overview

Table 14: Vetoquinol S.A. Company Overview

Table 15: Vetoquinol S.A. Financial Overview

Table 16: Zoetis Health Company Overview

Table 17: Zoetis Health Financial Overview

Table 18: Saudi Pharmaceutical Industries (SPI) Company Overview

Table 19: Saudi Pharmaceutical Industries (SPI) Financial Overview

Table 20: The Arab Pesticides and Veterinary Drugs Mfg. Co. Company Overview

Table 21: The Arab Pesticides and Veterinary Drugs Mfg. Co. Financial Overview

Table 22: Merck Animal Health (MSD) Company Overview

Table 23: Merck Animal Health (MSD) Financial Overview

Table 24: Pharmacare Limited Company Overview

Table 25: Pharmacare Limited Financial Overview