The Global Animal Health Market is forecast to reach USD 70.01 Billion by 2026, according to a new report by Reports and Data. This is mainly contributed by government initiatives to encourage the growth of veterinary products and treatments. Increase in the adoption of pet animals, coupled with the increasing consumption of meat and milk, will boost the growth of the market. Moreover, technological advancements in the healthcare industry will also impact the growth of the market positively. Regulating animal health and preventing animal disease outbreaks is essential to the economy as well as the safety of a country’s food supply.
The latest report is one of the most sought-after market research documents covering the grave impact of the COVID-19 outbreak current situation on the Animal Health market. The market intelligence report closely investigates the severe disruptions to this business sphere brought about by the pandemic. The coronavirus outbreak has significantly affected the Animal Health business landscape, posing threats to the developmental scope of the key manufacturers and buyers involved in this sector. The report further provides expert speculations about the post-COVID-19 scenario of the market.
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The rise in demand for automobiles is expected to drive the market in the coming years. A significant challenge in the market’s growth is affected by the unstable price of the raw materials. Market demand is expected to be restrained by the rising demand for plastic-free products. Rising applications of Animal Health in the coatings and paints are driving the market. The increasing usage of bio-based Animal Health will also supplement Animal Health market revenue share through 2027
Further key findings from the report suggest
The market is segmented on the basis of product type into vaccines, pharmaceuticals, feed additives, and diagnostics.
The vaccines segment is forecast to witness the highest growth rate of 7.4% during the forecast period.
Animals receive vaccines for infectious diseases such as rabies, parvovirus, distemper, hepatitis, rotavirus, E. coli, pinkeye, and brucellosis.
Veterinary vaccines have an important role in protecting animal health, reducing animal suffering, enabling efficient production of animal foods, and significantly reducing the need for antibiotics to treat food and companion animals.
The market is segmented on the basis of animal type into production animal and companion animal.
The companion animal segment is forecast to witness the highest growth rate of 7.4% during the forecast period, owing to the increasing rate of pet adoption, especially dogs and cats.
Animal companions are said to improve overall mental and physical health.
For instance, the hormone named oxytocin when released into the brain of both the human and the animal creates a sense of calm, regulating breathing, and lowering blood pressure and pulse rate.
The market is segmented on the basis of dosage type into oral, parenteral, topical, and transdermal.
The transdermal segment is forecast to witness the highest growth rate of 7.1% during the forecast period.
Competitive Terrain:
The global Animal Health market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies’ current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Animal Health market are listed below:
Elanco, Bayer, Merial, Merc, Biogenesis Bago, Zoetis Inc., Ceva Sante Animale, Boehringer Ingelheim, Neogen, Heska, Thermo Fisher Scientific, Novartis, Vetoquinol, and Virbac, among others.
Product types Outlook (Revenue, USD Billion; 2018-2026)
Vaccines
Pharmaceuticals
Feed Additives
Diagnostics
Animal type Outlook (Revenue, USD Billion; 2018-2026)
Production Animal
Companion Animal
Dosage type Outlook (Revenue, USD Billion; 2018-2026)
Oral
Parenteral
Topical
Transdermal
Distribution channel Outlook (Revenue, USD Billion; 2018-2026)
Retail pharmacies and drug stores
E-commerce
Veterinary Hospitals & Clinics
End users Outlook (Revenue, USD Billion; 2018-2026)
Reference Laboratories
Point-of-care Testing/In-house Testing
Veterinary Hospitals & Clinics
Others
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Key Takeaways from the Global Animal Health Market report:
The global Animal Health market report entails a broad product segmentation.
It methodically evaluates the overall product expanse of this business space.
The report covers pivotal information about the accrued market share of each product type, their profit estimations, and production growth graph.
The report provides the reader with a generic summary of the application gamut of the global Animal Health market.
The report further details the market share and product demand for each application segment.
The study estimates the growth rate of each application segment over the projected timeframe.
Moreover, the report offers crucial information on the different parameters boosting the global market expansion, such as raw material production and market concentration rates.
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Animal Health Market Segmentation & Impact Analysis
Chapter 5. Animal Health Market, By Type Insights & Trends
Chapter 6. Animal Health Market, By Application Insights & Trends
Chapter 7. Animal Health Market, By End Use Insights & Trends
Chapter 8. Animal Health Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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