Animal Healthcare Market size is forecast to grow over 7% CAGR from 2016 to 2024 and reach over USD 45 billion.
Global animal healthcare market size is driven by increase in trend of adopting a companion animal. Pets such as cats and dogs are adopted for various therapeutic and psychological benefits. Adoption of pet animals has increased in the developing countries such as China and India due increased imitation of western culture and other lifestyle changes.
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U.S. animal healthcare market size contributed to majority of North American industry in 2015, and is anticipated to increase its share owing to increased adoption of companion animals and growing consumer focus on their health and feed additives. Increasing importance of livestock animals will further accelerate the market growth.
UK contributed to majority of Europe animal healthcare market share in 2015. It was due to increase in the zoonotic diseases such as avian influenza, anthrax, tularemia among others. Germany veterinary health care market is the second largest in Europe. This has been due to the increased spending on vaccinations by the pet owners. The pharmaceuticals are anticipated to account for majority of Germany revenue share.
Animal healthcare market plays a significant role in safeguarding the animal husbandry industry in India. Feed additives accounted for a majority of market share in 2015. The increased adoption of innovative technologies for prevention and cure of various diseases of farm and companion animals is expected to drive the industry.
Brazil expects to explore the industry potential in coming years owing to increased pets’ humanization trend and rising awareness of animal healthcare.
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Major players in global animal healthcare market share include Merck & Co. Inc., Zoetis Inc.,Boehringer Ingelheim GmbH., Elanco Products Company., Bayer AG, MERIAL Limited, Novartis Animal Health Inc. Virbac SA. Ceva Sante Animale., Vetoquinol SA. Major strategies include strategic collaborations such as merger and acquisitions, contracts, R&D investment to consolidate market share.
This latest Animal Healthcare Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Animal Healthcare Industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Animal Healthcare Market Size, Industry Analysis Report, Regional Outlook, Application Development, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key Insights in this Report
- Animal Healthcare Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Animal Healthcare Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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