According to the latest report by IMARC Group, titled “Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global animal health market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global animal health market size reached US$ 36.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.36% during 2023-2028.
Animal health refers to the overall well-being of animals that encompasses various aspects such as physical, mental, and emotional health. Ensuring proper animal health requires providing proper nutrition and housing, implementing disease prevention measures, regular veterinary checkups, and providing appropriate care. Promoting good animal health is essential for animal welfare and preventing disease spread and supporting the economic viability of animal-related industries such as veterinary medicine, poultry, and agriculture.
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Animal Health Market Trends:
The global market is primarily driven by the escalating demand for animal protein including meat, milk, and eggs among the masses. In line with this, the considerable rise in zoonotic diseases is also creating lucrative growth opportunities in the market. Moreover, continual technological advancements in veterinary medicine and procedures, such as new drugs, vaccines, and surgical equipment to improve animal health outcomes are providing an impetus to the market. Additionally, favorable initiatives by governments in several countries supporting animal health programs to improve food safety and increase agricultural productivity is propelling the market.
Furthermore, the rising consciousness regarding animal welfare resulting in augmented demand for animal health products and services promoting animal well-being is creating a positive market outlook. Some of the other factors contributing to the market include rising livestock production, an increasing number of pet owners and rapid pet humanization, and extensive research and development (R&D) activities.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- Bayer
- Elanco
- Merck
- Merial
- Zoetis Inc.
- Biogenesis Bago
- Boehringer Ingelheim
- Ceva Sante Animale
- Heska
- Neogen
- Novartis
- Thermo Fisher Scientific
- Vetoquinol
- Virbac
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/animal-health-market
Key Market Segmentation:
Breakup by Animal Type:
- Commercial Animals
- Companion Animals
Breakup by Product Type:
- Pharmaceuticals
- Biologicals
- Medicinal Feed Additives
- Diagnostics
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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