The animal health market was valued at US$ 73,798.33 million in 2019 and is expected to grow at a CAGR of 6.3% from 2020 to 2027 to reach US$ 119,570.99 million by 2027.
The animal health is maintained through regular screening and diagnosis of health problems. Diseases in animal can be prevented by diagnostics and vaccines. Maintaining proper hygiene for animal through grooming products also help in preventing the outbreak of zoonotic diseases. The global animal health market is being driven by factors such as zoonotic diseases, rise in demand for proteinaceous food, and initiatives by governments and animal welfare associations. On the other hand, the use of counterfeit medicines, and high complexity and cost of animal drug development and approval processes are likely to restrain the market growth during the forecast period. However, increase R&D activities are likely to offer growth opportunities for the animal health market during the forecast period.
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- Merck & Co., Inc.
- BoehringerIngelheim International GmbH
- Ceva Santé Animale
- Cargill, Incorporated
- Zoetis Inc.
- Bayer AG
- Vetoquinol SA
- Nutreco N.V
The prescription segment captured a larger share in the global animal health market. Veterinary prescription products are labeled for use only by or on the order of a licensed veterinarian. The prescription-based product segment is likely to grow at a steady pace in the review period owing to the factors such as the increasing preference for generic drugs for animal care. During 2013–2015, the US Food and Drug Administration approved 22 generic animal drugs for cats and dogs, which have increased the adoption of generic drugs by veterinarians, thereby propelling the market growth for the prescription products.
Our expert team is consistently working on updated data and information of key player’s related business processes which values the market. For future strategies and predictions, we provide special section regarding covid-19 situation.
Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Animal Health Market which would mention How the Covid-19 is Affecting the Disposable Incontinence Products (DIPs) Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Disposable Incontinence Products (DIPs) Players to fight Covid-19 Impact.
Animals can act as carriers of harmful bacteria, viruses, parasites, and fungi to humans, leading to illness, which are referred as zoonotic diseases or zoonoses. An increase in such diseases is driving the animal health market. The clinical effect of zoonotic illnesses may range from mild to severe, and might sometimes lead to death. Zoonotic diseases are prevalent in the world. As per the estimates of the Center for Disease Control (CDC), >6 out of every 10 known infectious diseases in people can spread through animals, and 3 out of every 4 new or upcoming infectious diseases in people would come from animals. Moreover, in 2016, at least 55,000 people have died of rabies in Asia and Africa.
An outline of the regional analysis:
- Geographically, the report segments the Animal Health market into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
- Contribution of each region to the overall market share, along with their growth rate forecast are mentioned in the report.
- Total sales and revenue generated by each regional market are illustrated.
- Comprehensive assessment of all opportunities and risks in the Animal Health market.
Animal Health market recent innovations and major events.
- A detailed study of business strategies for the growth of the Animal Health market-leading players.
- Conclusive study about the growth plot of the Animal Health market for forthcoming years.
- In-depth understanding of Animal Health market-particular drivers, constraints, and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Animal Health market.
Additional highlights of the Animal Health market report:
- The product offerings, company profiles, production patterns, and market remunerations are discussed at length.
- Pricing model followed by every company, plus their gross margins and market share are given.
- Volume predictions for each product category as well as their revenue share are graphed in the report.
- Other essentials such as market share and growth rate of each product category over the forecast timeframe are included.
- Market share held by each application segment and their projected growth rate during the study period are evaluated.
- The report examines the competition trends, and also offers a complete analysis of the industry supply chain.
Note: Access insightful study with over 150+ pages, list of tables & figures, profiling 10+ companies.
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