Animal Health Market: Upcoming Trends, Incredible Opportunities, Business Opportunities, and Regional Outlook
Key player in the market Intas Pharmaceuticals, Ltd., Merck Animal Health, Bayer, Sanofi SA, Elanco, Zydus Animal Health, Zoetis, Inc., Vetoquinol, Groupe Virbac.
– Allied market research
NE WIN SIVERS DRIVE, PROVINCE: – PORTLAND, UNITED STATES, October 5, 2021 /EINPresswire.com/ – Overview of the animal health market:
The size of the Animal Health market is expected to experience double digit CAGR during the forecast period, 2018-2025. Animal health surveillance and epidemic prevention is one of the important factors for the country’s economy and the security of the food supply across the country. Thus, producing healthier livestock ensures a better quality food supply and keeps prices stable for consumers. Animal diseases often devastate global communities and disrupt international trade. The prevention and control of animal diseases stimulate economies, strengthen local communities and improve the overall health of the animal population.
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There has been a significant increase in R&D for animal care with increasing animal population and increasing incidence of disease in animals. According to a 2019 American Pet Products Association report, overall pet spending is approaching $ 70 billion.
The increased demand for high protein foods such as milk, eggs and meat, increased pet adoption, population growth, lifestyle changes and l Increased per capita income are the factors driving the growth of animal health market. In addition, the increased demand for meat from countries such as China, the United States, Brazil and Japan, and the increased risk of zoonotic diseases – infections that are transmitted from animals to humans have the following contributed to the growth of the animal health market. However, affordability issues faced by pet owners and the move to a vegetarian diet are hampering the growth of the industry.
The animal health market is segmented on the basis of animal type, product, distribution channel, end user and region. Within the animal types segment, the market is divided into production animals and companion animals. Based on the type, the production animal segment is divided into poultry, cattle, pigs, fish, sheep and goats and depending on the product, the production animal is classified into vaccines, diagnostics, feed additives, pharmaceuticals and others. . Based on type, the companion animal segment is divided into dogs, horses, cats, and others, and based on the product, the companion animal segment is fragmented into vaccines, diagnostics, food additives, pharmaceuticals and others. In the product segment, the market is fragmented into vaccines (live attenuated vaccines, inactivated vaccines, recombinant vaccines, DNA vaccines and others), pharmaceuticals (parasiticides, analgesics, anti-inflammatories, anti-infective and others), food additives (nutritional and medicinal products) and diagnostics (instruments and consumables). The distribution channels segment is classified into retail, veterinary hospitals and clinics, and e-commerce. The end user segment is divided into reference laboratories, veterinary hospitals and clinics, point-of-care testing / internal testing and others. Based on the region, the market has been analyzed to North America, Asia-Pacific, Europe, and LAMEA.
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Some of the major players operating in the animal health market include Intas Pharmaceuticals, Ltd., Merck Animal Health, Bayer, Sanofi SA (MERIAL Limited), Elanco (Eli Lilly and Company), Zydus Animal Health, Zoetis, Inc., Vetoquinol , Ceva SantÃ© Animale and Groupe Virbac. Other players operating in the animal health market are CH Boehringer Sohn AG & Co. KG, Dechra Pharmaceuticals, Nutreco NV and Phirbo Animal Health, Zoetis.
1) The Covid-19 pandemic and followed by containment has affected several manufacturing industries.
2) The prolonged containment has resulted in a disruption of the supply chain and an increase in the prices of raw materials.
3) However, as the world recovers from the pandemic, the market is expected to get back on track.
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KEY BENEFITS FOR STAKEHOLDERS
This report provides detailed quantitative analysis of current market trends and market forecast estimates from 2018 to 2025, which helps in identifying existing opportunities in the Animal Health market.
The in-depth market analysis includes analysis of various regions and should provide a detailed understanding of current trends to enable stakeholders to formulate region-specific plans.
A comprehensive analysis of the factors driving and restraining the growth of the global market is provided.
The animal health market conditions by region and country are analyzed in depth in this report.
Projections in this report are made by analyzing current market trends and future market potential from 2018 to 2025 in terms of value.
In-depth analysis of various regions provides information that should allow companies to strategically plan their trade movements.
Leading market players in the market are presented in this report and their strategies are thoroughly analyzed, which helps to understand the competitive outlook of the global Animal Health Market.
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