Ottawa, April 13, 2022 (GLOBE NEWSWIRE) — The world animal health market size was reached at US$53.15 billion in 2021. The animal healthcare market is the care provided primarily to domestic and companion animals. The increasing prevalence of diseases in animals creates lucrative opportunities for the growth of the global animal healthcare market over the forecast period. In addition, the expansion of the online sales channel is also boosting market demand. The major players operating in the global animal health care market are continuously striving to expand their market. For this, they invest in research and development activities to launch new innovative products on the animal health market.
Get the Sample Report Pages @ https://www.precedenceresearch.com/sample/1621
The demand for good pet food is increasing. This has led to an increase in the demand for pet food. Major companies and consumer goods companies are launching a new line of animal health care products, including pet food, pet milk and pet accessories. Major players in the market are launching drugs and vaccines for the treatment of animals on a large scale. Animals get infected very easily. To avoid such circumstances, animals are periodically vaccinated. As a result, major market players are launching vaccines that will protect animals against certain types of viruses and pathogens.
Additionally, the animal health care market is booming owing to the increase in governmental and non-governmental initiatives for animal health care promotion and campaigns. Various projects have been launched by the governments of various regions in support of animal health care. All these above-mentioned factors are driving the growth of the global animal healthcare market over the forecast period.
|Market size in 2021||$53.15 billion|
|Rate of growth||CAGR of 4.2% from 2022 to 2030|
|The biggest market||North America|
|Fastest growing market||Asia Pacific|
|Companies covered||Elanco, Bayer, Dechra Pharmaceuticals, Neogen, Boehringer Ingelheim, Merck & Co, Inc., Zoetis, Nutreco NV, Virbac, Vetquinol SA|
- Based on product, the pharmaceutical segment dominated the global animal health market in 2021 with the largest market share of 34%. Factors contributing to an exponential rise in the occurrence of diseases have prompted companies to develop improved vaccines and drugs, which is increasing the demand for this market.
- Based on end use, veterinary hospitals and clinics segment dominated the global animal health market in 2021 with the largest market share of 73.5%. Growing demand for and supply of vaccines, drugs and medicated feed additives, along with the increasing outbreak of zoonotic diseases, increased production of animal feed and greater consumer awareness, all contribute to the growth of this segment.
- North America is the largest animal health market segment in terms of region and garnered 30% in 2021. Leading companies have collaborated to improve their research and development skills and ensure high quality standards, which is expected to further increase the demand across the region. The majority of the share can also be linked to the region’s high disease burden.
- Asia Pacific The region is the fastest growing region in the animal health market. The exponential increase can also be attributed to growing awareness of pet nutrition and supply, as well as increasing levels of disposable income in emerging Asia-Pacific economies.
Ask here for more customization study @ https://www.precedenceresearch.com/customization/1621
future of Animal health Market
The increasing prevalence of animal diseases and their spread to humans, along with the growing demand for high-protein foods, has resulted in the commercial farming of dairy and beef cattle, as well as a growing trend in the adoption of pets and regulatory agencies. compulsory immunization, will lead to the growth of the animal health market and the deepening of its market penetration. The development of drugs for animal care has become more important as the animal population has grown and the incidence of disease has increased. Every year, a host of new animal diseases emerge, providing opportunities for pharmaceutical companies to introduce cutting-edge animal health treatments.
COVID-19 impact analysis:
- The COVID-19 epidemic has impacted the entire health sector, including animal health.
- Initially, there was a considerable risk of animals becoming infected due to their proximity to humans.
- Different players in the animal health market have responded to the need and demand for animal COVID-19 test kits by launching their own solutions to help veterinarians.
Main market developments:
- In February 2021, Merck Animal Health acquired Poultry Sense Limited, expanding its range of poultry products.
- In July 2020, Merck Animal Health doubled its animal vaccine production capacity at its Kansas manufacturing facility by $100 million.
- In July 2020, Zoetis, a company that develops and markets fish vaccines and provides vaccination and diagnostic services for aquaculture, purchased Fish Vet Group. With this acquisition, Zoetis has increased its regional presence and enhanced its diagnostic and testing capabilities in key aquaculture markets around the world.
- Bayer completed the sale of its Animal Health business unit to Elanco Animal Health Incorporated in August 2020.
Browse more related [email protected] https://www.precedenceresearch.com/industry/healthcare
By animal type
- Production animals
- Live attenuated vaccines
- DNA vaccines
- Recombinant vaccines
- Inactivated vaccines
- Pest Control
- Food additives
- Equipment and consumables
- Intensive care consumables
- Anesthesia equipment
- Fluid Management Equipment
- Temperature management equipment
- Rescue and resuscitation equipment
- Research equipment
- Patient monitoring equipment
- Veterinary telehealth
- veterinary software
- Livestock monitoring
By distribution channel
- Retail pharmacy
- Hospital pharmacy
By end use
- Reference laboratories
- Point-of-care testing/in-house testing
- Hospitals and veterinary clinics
- Difficult dermatology cases
- Gastrointestinal disease
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Click here to View full report table of contents
Buy this Premium Research Report @ https://www.precedenceresearch.com/checkout/1621
You can place an order or ask any questions, please feel free to contact at [email protected] | +1 9197 992 333
Precedence Research is a global market research and consulting organization. We provide an unparalleled nature of offering to our customers located all over the world across industry verticals. Precedence Research has expertise in providing in-depth market intelligence as well as market insights to our clients spread across various businesses. We are obligated to serve our diverse customer base in medical services, healthcare, innovation, next-generation technology, semiconductor, chemical, automotive, aerospace and defence, among the various companies present in the world.
For the latest update, follow us: