Animal Health Market: Upcoming Trends, Incredible Possibilities, Business Opportunities and Regional Outlook

Animal Health Market

Animal Health Market

Key player in market Intas Pharmaceuticals, Ltd., Merck Animal Health, Bayer, Sanofi S.A., Elanco, Zydus Animal Health, Zoetis, Inc., Vetoquinol,Virbac Group.

Animal Health Market by Animal Type (Production Animal & Companion Animal), Product (Vaccines, Pharmaceuticals, Feed Additives), Distribution Channel (Retail, Veterinary Hospitals & Clinics)”

— Allied Market Research

NE WIN SIVERS DRIVE, PROVINCE: – PORTLAND, UNITED STATES, October 5, 2021 /EINPresswire.com/ — Animal Health Market Overview:

Animal Health Market size is expected to witness a double-digit CAGR during the forecast period, 2018-2025. Animal health monitoring and preventing disease outbreaks is one of the important factors for the country’s economy and safety of the food supply across the nation. Thus, the production of healthier livestock ensures a better-quality food supply and keeps the prices stable for the consumers. Animal diseases often devastate the world’s communities as well as disturb the international trade. Prevention and control of animal diseases boosts economies, strengthens local communities, and enhances the overall health of the animal population.

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There has been significant increase in R&D for animal care with the augment in animal population and increase in incidences of diseases in animals. According to a report by American Pet Products Association in 2019, the overall spending on pets and animals approaches USD 70 billion.

Rise in demand for protein rich foods such as milk, eggs, and meat, increase in adoption of companion animals, growth in population, changes in lifestyle, and surge in per capita income are the factors that drive the growth of the animal health market. Moreover, increase in demand for meat from countries such as China, the U.S., Brazil, and Japan, and the rise in risk of zoonotic diseases—infections that transfer from animals to humans have subsequently contributed toward the growth of the animal health market. However, affordability issues faced by the pet owners and a shift toward vegetarian diet hinder the industry augmentation.

The animal health market is segmented based on by animal type, product, distribution channel, end user, and region. Under the animal type segment, the market is bifurcated into production animal and companion animal. Based on type, the production animal segment is further divided into poultry, cattle, swine, fish, and sheep & goats and based on product, the production animal is classified into vaccines, diagnostics, feed additives, pharmaceuticals, and others. Based on type, the companion animal segment is divided into dogs, horses, cats, and others and based on product, the companion animal segment is fragmented into vaccines, diagnostics, feed additives, pharmaceuticals, and others. Under the product segment, the market is fragmented into vaccines (live attenuated vaccines, inactivated vaccines, recombinant vaccines, DNA vaccines and others), pharmaceuticals (parasiticides, analgesics, anti-inflammatory, anti-infectives and others), feed additives (nutritional and medicinal), and diagnostics (instruments and consumables). The distribution channel segment is categorized into retail, veterinary hospitals & clinics, and e-commerce. The end user segment is divided into reference laboratories, veterinary hospitals & clinics, point-of-care testing/in-house testing, and others. Based on region, the market has been analyzed across North America, Asia-Pacific, Europe, and LAMEA.

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Some of the major players operating in the animal health market include Intas Pharmaceuticals, Ltd., Merck Animal Health, Bayer, Sanofi S.A. (MERIAL Limited), Elanco (Eli Lilly and Company), Zydus Animal Health, Zoetis, Inc., Vetoquinol, Ceva Santé Animale, and Virbac Group. The other players operating in the animal health market are C.H. Boehringer Sohn AG & Co. KG, Dechra Pharmaceuticals, Nutreco N.V., and Phirbo Animal Health, Zoetis.

Covid-19 Scenario:

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

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KEY BENEFITS FOR STAKEHOLDERS

This report provides a detailed quantitative analysis of the current market trends and market forecast estimations from 2018 to 2025, which assists to identify the prevailing animal health market opportunities.
The in-depth market analysis includes analysis of various regions and is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the global market is provided.
Region-wise and country-wise animal health market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current market trends and future market potential from 2018 to 2025 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which helps understand competitive outlook of the global animal health market.

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Source: EIN Presswire