According to the latest report by IMARC Group, titled “Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global animal health market reached a value of US$ 48.1 Billion in 2020. Looking forward, IMARC Group expects the global animal health market to exhibit moderate growth during 2021-2026. Animal health refers to monitoring and providing adequate care to animals to maintain their wellbeing. Regular animal health supervision is necessary to prevent disease outbreaks as healthy livestock ensures stable consumer prices and a safe food supply. As efficient control and prevention are essential to minimize the risk of spreading zoonotic diseases among humans and other animals, there is an increasing demand for animal health management solutions.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The emergence of new technologies and expanding research and development activities in the veterinary pharmaceutical industry primarily drive the animal health market. Advanced technology helps the data collected in veterinary clinics to be uploaded to the internet and then shared with various clinicians and researchers. Furthermore, animal health also helps in facilitating real-time analysis of any fluctuations in the prevalence of diseases, thereby augmenting the market growth. Several government initiatives for vaccination also help in optimizing the veterinary healthcare sector, which will further drive the market growth in the coming years.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Breakup by Animal Type:
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Key highlights of the Report:
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Other Market Research Reports (2021-2026) by IMARC Group:
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