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Animal Health Market Research Report Information by Animal Type (Farm Animal, Companion Animal), by Product (Pharmaceuticals, Vaccines, Feed Additives), Route of Administration (Oral, Parenteral, Topical), Distribution Channel (Veterinary Hospitals & Clinics, Retail, E-Commerce), and by Region (North America, Europe, Asia-Pacific, Middle East, and Africa)—Forecast till 2030
According to MRFR analysis, the Animal Health Market is expected to register a CAGR of 7.6% from 2023 to 2030 and hold a value of over USD 75.02 Billion by 2030.
Animal health care is mainly related to the wellness of farm animals and pets. Like humans, animals are also vulnerable to diseases that need a diagnosis, prevention, and control of the disease. The global market for animal health has been witnessing a massive growth over recent times owing to the factors such as the rising prevalence of disease in livestock and poultry, increasing development of e-commerce platforms, rising incidences of Zoonotic disease, and increasing investment for the R&D. however, the market growth is likely to be hampered by the growing shift towards vegetarianism and difficulties associated with the storage and handling of vaccinations for the animals.
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The animal health market is the sector of the economy concerned with the development, production, and sale of products and services designed to maintain and improve the health of animals, both domestic and wild. This market includes products such as vaccines, medicines, diagnostic tools, and nutritional supplements, as well as services such as veterinary care and animal welfare management.
Segmentation
The global animal health market is bifurcated into several segments based on vaccines, feed additives, growth promoters, animal type, end-user, and region.
Based on vaccines, the animal health market is divided into toxoid vaccines, inactivated vaccines, live attenuated vaccines, and others.
The market is bifurcated into antioxidants, feed acidifiers, minerals, vitamins, binders, amino acids, and others based on feed additives.
By growth promoter, the market is split into phytogenics, feed enzymes, prebiotics & probiotics, hormonal growth promoters, acidifiers, and others.
The market is bifurcated into companion animals, food-producing animals, and others based on animal type.
The market is divided into homecare, animal farms, and veterinary hospitals & clinics based on end-user.
Key Players
Some of the key market players are: Merck & Co., Inc. (US), Boehringer Ingelheim International GmbH (Germany), Chanelle Pharma (Ireland), Ceva (France), Nutreco N.V. (Netherlands), Vetoquinol SA (France) , Virbac Group (France), Zoetis Inc. (US), Heska Corporation (US), Elanco
Regional Analysis
The animal health market can be analyzed based on regional markets. The following are some of the key regions in the animal health market:
North America: North America is one of the largest markets for animal health products and services, with the United States being the major contributor to the region’s growth. The growth of the animal health market in North America is driven by the high pet ownership rates, increasing demand for animal-based products, and a strong focus on animal welfare.
Browse In-depth Market Research Report (178 Pages) on Animal Health: https://www.marketresearchfuture.com/reports/animal-health-market-7163
Europe: Europe is another significant market for animal health products, with countries such as Germany, France, and the United Kingdom being the major contributors to the region’s growth. The growth of the animal health market in Europe is driven by factors such as increasing pet ownership rates, rising awareness of animal health and welfare, and favorable government policies.
Asia Pacific: The Asia Pacific region is expected to witness the highest growth rate in the animal health market due to the increasing demand for animal protein, rising awareness of animal health and welfare, and the presence of a large number of animal health companies in the region. China and India are the major contributors to the region’s growth.
Latin America: The animal health market in Latin America is driven by the increasing demand for animal-based products and the presence of a large number of livestock and poultry farms in the region. Brazil is the major contributor to the region’s growth.
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