Animal Health Market Size Worth $ 119,570.99 Million By 2027 | CAGR 6.3% – Insight Partners
Animal Health Market Expected To Grow At A CAGR Of 6.3% To Reach US $ 119,570.99 Million From 2020 To 2027
NEW YORK, UNITED STATES, November 25, 2021 /EINPresswire.com/ – According to The Insight Partners market study entitled “Animal health market Forecast to 2027 – Covid-19 Impact and Global Analysis by Product and Animal Type “, the market is expected to reach US $ 119,570.99 million in 2027, compared to US $ 73,798.33 million in 2019. The market is expected to grow at A CAGR of 6.3%. from 2020 to 2027. The report highlights the trends prevailing in the global animal health market and the factors driving the market as well as those having a chilling effect on its growth.
Report Coverage Details
Market size value in – US $ 73,798.33 million in 2019
Market size value of – US $ 119,570.99 million by 2027
Growth rate – CAGR of 6.3% from 2020-2027
Forecast period – 2020-2027
Baseline year – 2020
Number of Pages – 195
Number of tables – 95
Number of graphs and figures – 69
Historical data available – Yes
Segments covered – Product; Type of animal; and geography
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
Country Scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Cover – Revenue Forecast, Company Rank, Competitive Landscape, Growth Factors & Trends
Get a sample PDF copy of Animal Health Marketplace at: https://www.theinsightpartners.com/sample/TIPRE00003540/
Animal health is maintained through regular screening and diagnosis of health problems. Animal diseases can be prevented with diagnostics and vaccines. Maintaining good animal hygiene through grooming products also helps prevent the onset of zoonotic diseases. The global animal health market is driven by factors such as zoonotic diseases, increasing demand for protein foods, and initiatives by governments and animal welfare associations. On the other hand, the use of counterfeit drugs, along with the high complexity and cost of animal drug development and approval processes are likely to restrain the growth of the market during the forecast period. However, increased R&D activities are likely to offer growth opportunities for the animal health market during the forecast period.
Growing incidence of zoonotic diseases
Animals can carry bacteria, viruses, parasites and fungi that are harmful to humans, causing diseases, called zoonotic diseases or zoonoses. The increase in these diseases is boosting the animal health market. The clinical effect of zoonotic diseases can range from mild to severe and can sometimes lead to death. Zoonotic diseases are prevalent around the world. According to estimates from the Center for Disease Control (CDC),> 6 in 10 known infectious diseases in humans can be spread by animals, and 3 in 4 new or future infectious diseases in humans originate from animals. In addition, in 2016, at least 55,000 people died of rabies in Asia and Africa.
Over the past decades, many previously unknown human infectious diseases, such as Ebola virus, human immunodeficiency virus (HIV), Nipah virus, West Nile virus and Hantavirus infections, have emerged from reservoirs. animals. Epidemics such as Severe Acute Respiratory Syndrome (SARS) and avian influenza have been a reminder of the potential of microorganisms in animal reservoirs to adapt to human hosts. More than three quarters of new, emerging or re-emerging human diseases at the start of the 21st century are caused by pathogens of animal origin or products of animal origin.
Impacts of COVID-19 on the animal health market
COVID-19 started in Wuhan, China in December 2019 and since then it has spread at a rapid rate across the world. The United States, India, Brazil, Russia, France, United Kingdom, Turkey, Italy and Spain are among the most affected countries in terms of confirmed cases and reported deaths. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans and business closures.
Download the latest COVID-19 Analysis on Animal Health Market Growth Research Report at: https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00003540
The prescription segment has captured a larger share of the global animal health market. Prescription veterinary products are labeled for use only by or on the order of a licensed veterinarian. The prescription segment is expected to grow at a steady pace during the review period owing to factors such as the growing preference for generic drugs for animal care.
The animal health market, by animal type, is further segmented into production animals and companion animals. In 2019, the food producing animal segment captured a larger share of the global animal health market.
Animal health market: competitive landscape and key developments
Merck & Co., Inc, Boehringer Ingelheim International GmbH, Ceva SantÃ© Animale, Cargill, Incorporated, Zoetis Inc., Bayer AG, Vetoquinol SA, Nutreco NV, Virbac and Elanco.
The companies have implemented various strategies which have contributed to the growth of the business and in turn resulted in various changes in the market. Market players have focused on acquisitions with industry players in order to maintain their position in the market. For example, in February 2019, Zoetis Inc. announced the acquisition of Diagnostic Science, a veterinary reference laboratory company. The acquisition enabled the company to strengthen its service portfolio.
Order a copy of the Animal Health Market Share, Strategy and Forecast 2020-2027 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00003540/
Browse related reports and get a sample copy
Companion Animal Diagnostics Market Forecast to 2027 – COVID-19 Impact and Global Analysis
Farm Animal Drugs Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product Type
The Insight Partners is the industry’s unique research provider for actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors & Electronics, Aerospace & Defense, Automotive & Transportation, Biotechnology, Health Informatics, Manufacturing & Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
Press release: https://www.theinsightpartners.com/pr/animal-health-market
More research: https://liverpoolstudentmedia.com/author/theinsightpartners/
Animal health market size (6.3% CAGR) from 2020 to 2027