Chile Veterinary Drugs Market Report and Forecast 2024-2032

Chile Veterinary Drugs Market Outlook

The Chile veterinary drugs market size reached a value of approximately USD 224.86 million in 2023. The market is expected to grow at a CAGR of 8.50% between 2024 and 2032, driven by increasing concern for companion animals and expanding veterinary care network.

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Key Trends in the Market

Veterinary drugs are specific formulations that aim to improve the health of animals, both proactively and in treatment of specific diseases and conditions. While some veterinary drugs are administered to animals based on their age and species, others may be prescribed when certain conditions are suspected or diagnosed. Veterinary drugs are suited for a variety of animal species, including companion animals like dogs and cats as well as livestock animals like cattle, chickens, and pigs.

• A major increase in the number of pet owners and surging awareness regarding pet health are boosting the need for better treatment options for companion animals as well as proactive healthcare. More pet owners are vaccinating their pets resulting in increased health expenditure on pets, thus aiding the Chile veterinary drugs market.

• With the significant meat consumption in the country, there is an increasing pressure on animal farmers to maintain the health of livestock. The rising prevalence of zoonotic and chronic diseases coupled with surging awareness about food-borne diseases are contributing to the demand for veterinary drugs for livestock animals.

• The growth of the Chile veterinary drugs market is predicted to be aided by the rising use of pet health insurance and expansion of veterinary healthcare networks in the country. With the increase in number of veterinary care clinics, more pet owners are taking their pets for regular check-ups at the vets and administering recommended veterinary drugs.

Chile Veterinary Drugs Market Analysis

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Based on product, the market is divided into biologics, pharmaceuticals, and medicinal feed additives, with biologics further divided into vaccines, among others while pharmaceuticals are sub-divided into parasiticides, anti-infectives, anti-inflammatory, and analgesics, among others. On the basis of animal, the market is bifurcated into companion and livestock. The market on the basis of route of administration is segmented into topical, parenteral, and oral. Based on distribution channel, the market is categorised into veterinary hospitals and clinics, pharmacies and drug stores, and online, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Chile veterinary drugs market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Boehringer Ingelheim GmbH

• Elanco Animal Health Inc.

• Zoetis Inc.

• Vetanco

• Agricola Nacional SAC E I.

• Laboratory Drag Pharma Chile Invetec S.A.

• Others

Market Share by Product

Pharmaceuticals account for a significant share in the Chile veterinary drugs market due to the increased incidences of zoonotic diseases, brucellosis, and food-borne illnesses. The use of parasiticides by animal providers for illness prevention and management is projected to expand due to the spike in the pet population and rising occurrences of parasites in cats, dogs, and other animals.

The biologics segment is in the Chile veterinary drugs market is anticipated to grow at a rapid rate over the forecast period, fuelled by the increasing demand for vaccines. More livestock and companion animals are using vaccines to prevent diseases, avoiding risk to animal health and more expensive treatments for complex diseases. In livestock animals, diseases can negatively affect animal breeding and spread rapidly among flocks due to close proximity of animals. As a result, the demand for immunisations in livestock is rising to prevent such epidemics. 

Market Share by Route of Administration

According to route of administration the oral veterinary drugs are expected to occupy a sizable share of the Chile veterinary drugs market. Oral medicines are commonly given to pets either hidden in food or in the form of chewable pills and are suited for long-term treatments as these drugs can be administered without any specialised veterinary knowledge. Furthermore, oral drugs can be used to treat and prevent a wide range of conditions in animals, increasing their demand. 

Meanwhile, for emergency treatments, particularly in veterinary hospitals and clinics, parenteral routes of administration are the leading choice. As illnesses are sometime detected in animals at a later stage, parenteral administration helps in speedier impact and response, increasing the effectiveness of the drugs.

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Competitive Landscape

Boehringer Ingelheim GmbH, founded in 1885 with headquarters in Rhineland-Palatinate in Germany focuses on research and is dedicated to the development, production, and marketing of cutting-edge medical goods. The company is one of the biggest suppliers of medicines, parasiticides, and vaccinations. It also offers systems for diagnostics and monitoring. Boehringer supports veterinarians, farmers, as well as pet and horse owners, with a significant presence in the companion animal and livestock industries. 

Elanco Animal Health Inc. is a global animal health corporation based in Indiana in the United States and founded in 1954. Elanco has made a commitment to equipping farmers, veterinarians, and anyone else who cares for animals with the resources they require to ensure that those animals enjoy long and healthy lives. The company focuses on providing sustainable solutions to enhance the wellbeing of people, animals, and the environment through its Elanco Healthy PurposeTM framework of Environmental, Social, and Governance (ESG) commitments.

Zoetis Inc., founded in 2013 and headquartered in New Jersey, United States, is a world leading animal health company. Over 100 nations benefit from the company's top portfolio and pipeline of drugs, vaccines, diagnostics, and technologies. Zoetis investigates, develops, produces, and sells vaccinations, medications, diagnostics, and other technologies for companion animals and livestock.

Other market players include Vetanco, Agricola Nacional SAC E I., and Laboratory Drag Pharma Chile Invetec S.A., among others.

Key Highlights of the Report