Pune, India, November 29, 2021 (GLOBE NEWSWIRE) –
The global animal health market size is expected to show considerable growth during the forecast period, driven by the increasing need for effective pest control drugs, medicated feed additives and animal vaccines. In addition to making significant investments in R&D, industry players are seeking approvals for mergers and acquisitions.
Livestock segment expands to North America
By type of animal, the animal health market in North America has been categorized by pets and farm animals. According to statistics released by the National Agricultural Statistics Service (NASS), a unit of the United States Department of Agriculture (USDA), the number of farm animals has increased significantly over the past three to four years. The farmed animal segment in North America contributed approximately $ 18.8 billion to total revenues in 2020.
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North American State Policies Support Consumption
By 2027, the size of the North American market is expected to reach nearly $ 69.8 billion, due to favorable policies and initiatives by Canadian and US state agencies. The US FDA announced the adoption of the One Health Initiative to understand the links between animal and human health, while defending environmental concerns. Another industry catalyst is the allocation of a range of funds.
Animal vaccination programs across the UK
The COVID-19 pandemic has raised concerns about the immunity of pets and farm animals. As the immunity of aging pets is on the wane, several pet owners in the UK are seeing their vets to vaccinate their feline and canine companions. Livestock owners are concerned about the increasing prevalence of diseases caused by parasites, viruses, fungi and bacteria.
The availability of affordable pet health care packages to manage the costs of regular exams supports the adoption of these products across Europe.
Increase the use of medical devices in Europe
The medical device segment is expected to grow at over 4.8% CAGR in European animal health market between 2021 and 2027, due to the increasing installation of surgical, monitoring and diagnostic equipment in new and old veterinary clinics. The high percentage of qualified veterinarians, as well as their substantial contribution to the provision of compassionate care and progressive medicine in the face of the challenges induced by the pandemic, is a key factor.
As the importance of high-quality medical services for pets has increased, healthcare spending is expected to skyrocket in Russia, Poland, Italy, Germany, Sweden and Spain. Average annual household expenses for dogs in Spain are estimated to be around $ 150, while those for cats are around $ 105.
Access examples of report pages, “Forecast of the animal health market in Europe 2027” in detail with the table of contents (ToC) @
The growing popularity of pet cats in Italy
Italy, France and the UK are among the richest countries for pet cats in the world. The outlook for the Italian market is expected to remain positive due to the growth opportunities in the cat segment as cats have multiple privileges as pets. Even stray cats get the attention of their human friends. The nation has several no-kill shelters for cats. One of the famous shelters includes the Torre Argentina Cat Sanctuary in Rome, where a wide variety of stray cats enjoy free roaming status.
Asia-Pacific online veterinary consultations
The Asia-Pacific animal health market share of the veterinary segment was estimated to be over $ 13.7 billion in 2020. As a large number of pet owners have now turned to online consultations for their animals As a company, the segment is also expected to experience steady growth in 2027. There are many non-profit organizations and government entities working to raise awareness of animal health.
With the increase in the prevalence of infectious diseases among regional herds, national spending on animal medicine has increased. The prevalence of zoonotic disorders has increased in the region, facilitating increased spending on animals.
Access examples of report pages, “Asia-Pacific Animal Health Market Forecast 2027” in detail with the table of contents (ToC) @
Japan sees increase in pet adoption rate
The size of the Japanese market is expected to increase significantly over the next five years, owing to the growing awareness of animal care in the country. Nonprofit organizations and animal rescue centers in Japan work tirelessly to protect and save animals. Pet no Ouchi, ARK Tokyo, KDP, Chibawan and NPO Sala Network are a few organizations that find new homes for dogs, cats and other abandoned animals.
Besides the increase in the number of pet adoptions, Japan is experiencing an increasing demand for meat. Consumption of processed meat products and beef, lamb, pork and chicken has exceeded production rate in recent years.
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