Animal Health Market Share Analysis, Sales Outlook, Growth Trends, Industry Insights and Business Overview By 2023
Research Reports
Dec 29, 2020
Animal Health Market Scope
Market Research Future (MRFR) projects the animal health market to acquire a decent CAGR of 5.7% from 2018 to 2023 (evaluation period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Animal Health Market Drivers and Restraints
The animal health market is primarily bolstered by the substantial increase in the demand for protein food along with the drastic surge in food-borne and zoonotic diseases worldwide. The unprecedented growth in diseases among animals is prompting various companies to develop effective vaccines as well as pharmaceuticals, which could be favorable for the global market in the long run. The encouraging scenario is also compelling firms to undertaken intense efforts to curb food-borne diseases and pathogen contamination risks, which can contribute significantly to the growth of the animal health industry.
Request Free Sample Copy of the report “ Animal Health Market Research Report – Global Forecast till 2023 ” at: https://www.marketresearchfuture.com/sample_request/7163
The animal health market’s growth largely relies on the increasing number of technological innovations with regard to veterinary health care, which can present excellent opportunities to the prominent vendors. Some of the significant innovations in the market include advanced information management systems, vaccine banks and animal owner mobile technology. Escalating focus on innovations in terms of animal health is strengthening the growth prospects of the companion animal health market, as more and more pets are rapidly being adopted worldwide.
The promising rise in the number of government initiatives promoting animal health products and the favorable scenario being created by various government agencies can give a boost to the animal healthcare market. The rising number of vets and the increasing awareness among people with regard to animal health and the treatment options and drugs available has nurtured the veterinary medicine market in recent years. A few other important growth drivers include the expansion strategies, mergers and acquisitions, research initiatives and new launches being adopted by the top market vendors across the globe.
A case in point, in September 2020, Merck Animal Health launched Nasalgen 3-PMH, which is an intranasal vaccine for protection of dairy cattle and beef from different pneumonia-causing bacterial and viral pathogens. This vaccine offers fast respiratory protection via a needle free animal -friendly administration.
Animal Health Market Segmentation
The animal health industry can be considered with respect to animal type, product, route of administration, and distribution channel.
The animal types taken into account in the MRFR report include farm animal as well as companion animal. The farm animal healthcare market is observing significant growth, on account of the rising focus of healthcare organizations on development of agricultural practices worldwide.
The global market, depending on the product, can be categorized as vaccines, feed additives and pharmaceuticals. The vaccines segment has the potential to garner the fastest CAGR over the coming period.
The routes of administration discussed in the market study are topical, parenteral, oral, and others.
The key distribution channels discussed in the report are e-commerce, retail, veterinary hospitals & clinics, and others.
Animal Health Market Regional Study
The regional study of the animal health market covers Europe, the Americas, Asia Pacific/APAC, and MEA or Middle East & Africa.
It is quite likely that the American market could take the lead during the assessment period, considering the hike in the demand for animal protein, improving production, and the rising focus on food safety. Surge in pet ownership along with the escalating need for medicines for pets also works in the market’s favor. The animal testing market size has expanded at a promising rate in the region, given the mounting awareness level among people with regard to different treatment options and the well-developed healthcare sector.
Europe is one of the top performers in the global market, taking the second lead due to the strong government support given with respect to research & development as well as the expanding companion animal populace. Frequent technological innovations, increasing cases of zoonotic diseases, and the spike in number of pet owners also foster market advancement in the region. Collaborative efforts by the renowned vendors in the region to boost their R&D capabilities, while ensuring top quality standards has also impelled the market demand in the region.
APAC remains the fastest progressing market for animal health as the number of pet adoptions has risen significantly over the years. Some other important growth inducers include the soaring number of animal welfare program, growing pool of companion animals, which is especially high in India and China. Humungous R&D spending by prominent vendors in the animal health field and their growing efforts to offer generic therapeutics at lower price does wonders to the regional market.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/animal-health-market-7163
Animal Health Market Reputed Companies
Top animal health companies 2020 profiled in the MRFR market study include Ceva Sante Animale, Bayer AG, Virbac, Nutreco N.V., Vetiquinol SA, Merck Animal Health, Zoetis, Eli Lilly, Boehringer Ingelheim GmbH, Elanco, to mention a few.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Tags:
, Reportedtimes, iCN Internal Distribution, Research Newswire, English
YOU MAY ALSO LIKE
PW Consulting Releases Comprehensive Market Research on…
Animal Health Market Scope Market Research Future (MRFR) projects the animal health market to acquire a decent CAGR of 5.7% from 2018 to 2023 (evaluation…
read more