Press Release

Saudi Arabia Veterinary Medicine Market to grow with a CAGR of 4.67%

Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the Saudi Arabia Veterinary Medicine Market.

 

According to TechSci Research report, “Saudi Arabia Veterinary Medicine Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Saudi Arabia Veterinary Medicine Market has valued at USD 165.08 million in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 4.67% through 2028.  This can be due to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.

 Urbanization drives the demand for veterinary medicine. Urban areas often have higher pet ownership rates, including dogs, cats, and other small animals. The concentration of pets in urban environments leads to increased demand for veterinary services, including routine check-ups, vaccinations, and treatments. The urban lifestyle places a strong emphasis on the well-being of companion animals. Pet owners in urban areas are more likely to seek veterinary care, preventive healthcare, and specialized services for their pets. Urban areas have higher human population densities, resulting in more interactions between people and pets. This increased proximity can lead to a higher risk of zoonotic disease transmission, driving the demand for veterinary care and preventive measures. Urban veterinary clinics and hospitals often provide a broader range of specialized services, such as cardiology, ophthalmology, and dermatology. These services are in demand by urban pet owners looking for the best care for their animals.

Urban areas typically have veterinary facilities that offer emergency and after-hours care for pets, addressing the needs of pet owners with busy work schedules and lifestyles. Urban environments are home to various pet-related businesses, such as grooming salons, pet daycares, and pet stores. These businesses work in tandem with veterinary clinics and contribute to the overall demand for pet healthcare products and services.

 

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In November 2022, in Riyadh, the Saudi Minister of Environment, Water and Agriculture, Abdul Rahman bin Abdul Mohsen Al-Fadhli, officially launched the Aquatic Animal Diseases Network in the Middle East, as reported by the Saudi Press Agency. The primary objectives of this network are to enhance the aquaculture industry, emphasize the significance of aquatic and marine species in food production, manage disease transmission to ensure sustainable growth in regional aquaculture production, provide training for veterinarians and aquatic health specialists, and facilitate collaboration among international organizations offering aquatic health services.

The shortage of skilled professionals is a significant challenge in the Saudi Arabia Veterinary Medicine Market. While Saudi Arabia has made efforts to develop its veterinary educational infrastructure, there may still be limitations in terms of the number of veterinary schools and training programs available to produce enough skilled professionals. The growing demand for veterinary services, particularly in urban areas and among pet owners, has outpaced the supply of skilled veterinarians and veterinary technicians. As the field of veterinary medicine becomes more specialized, there is a need for professionals with expertise in various areas such as surgery, cardiology, dermatology, and exotic animal care. Finding professionals with specialized skills can be challenging. Some skilled professionals, especially veterinarians, may be attracted to opportunities in other countries that offer higher salaries or better working conditions. This can lead to a talent drain in the domestic veterinary workforce.

Saudi Arabia Veterinary Medicine Market is segmented based on Animal Type, Product Type, End User, and by region.

Based on the Animal Type, Saudi Arabia Veterinary Medicine Market is segmented into Production, Companion. Production animal types, often referred to as production animals, are livestock and other animals that are raised and bred primarily for the purpose of producing various products, such as meat, milk, eggs, wool, and other agricultural commodities. These animals are an essential part of the agriculture and food production industry. Cattle, including both beef cattle and dairy cattle, are raised for meat and milk production. Beef cattle are primarily raised for their meat, while dairy cattle are raised for milk production, which is used to make dairy products like milk, cheese, and yogurt. Pigs are raised for pork production. Pork is a widely consumed meat product, and pigs are bred and raised for their meat, which includes cuts like pork chops, bacon, and ham. Poultry includes chickens, turkeys, ducks, and other birds that are raised for meat (broilers), eggs (layers), and sometimes both. Chicken and turkey are two of the most common poultry types raised for their meat, while chicken and duck eggs are popular for consumption.

Based on Region, Northern & Central region held the largest share in the Saudi Arabia Veterinary Medicine Market. These regions often have better infrastructure and facilities, including modern veterinary clinics, diagnostic laboratories, and specialized hospitals. This attracts pet owners and livestock farmers who seek high-quality veterinary care. Government policies and investments in healthcare and agriculture in these regions may have stimulated the growth of the veterinary medicine market. The presence of major airports and transportation hubs in these regions facilitates the import and distribution of veterinary medicines and products, further supporting the industry's growth. The Northern and Central regions are more likely to host research and development centers for veterinary medicines and technologies, which can foster innovation and attract investments.

 

Some of the major companies operating in the Saudi Arabia Veterinary Medicine Market include:

  • MAS Group
  • Saudi Pharmaceutical Industries
  • The Arab Pesticides and Veterinary Drugs Mfg. Co (Mobedco)
  • Merck Animal Health (MSD)
  • Boehringer Ingelheim GmbH Saudi Arabia
  • Elanco Animal Health Saudi Arabia
  • Virbac Saudi Arabia
  • Montajat Pharmaceuticals
  • Pharma Care Limited
  • Al-Takamul Agriculture Company

 

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“Certain areas, particularly in North America, are projected to exert significant demand for Veterinary Medicine. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the Saudi Arabia Veterinary Medicine Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

Saudi Arabia Veterinary Medicine Market by Animal Type (Production {Poultry, Sheep & Goats, Cattle, Others}, Companion (Cats, Horses, Dogs, Others)), By Product Type (Pharmaceuticals {Parasiticides, Analgesics, Anti-Inflammatory, Anti-infectives, Others}, Vaccine {Inactive Vaccines, Attenuated Vaccines, Recombinant Vaccines, Others), Medicated Feed Additives (Amino acids, Antibiotics, Others}), By End User (Veterinary clinics, Veterinary Hospitals, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Saudi Arabia Veterinary Medicine Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Veterinary Medicine Market.

 

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