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Animal Health Market (Detailed Analysis and Current Scenario) Global Outlook & Forecast 2022-2030

Added: (Wed Feb 22 2023)

Pressbox (Press Release) - In spite of disruption due to the COVID-19 pandemic, the animal health industry witnessed steady growth. The trend for telemedicine has witnessed significant growth during the pandemic. Online channels such as eCommerce are the most preferred distribution channels by pet owners for purchasing vet products and pet food. According to the UN Department of Economic and Social Affairs, the global population is approximately 7.3 billion and it is anticipated to reach around 9.7 billion by 2050; of which, 795 million people are undernourished, as per the estimations of the International Fund for Agricultural Development (IFAD). The aforementioned statistics exemplify the urgent requirement to expand the food supply through large-scale adoption of livestock.
The global Animal Health Market was pegged at US$ 38.94 billion in 2021 and is expected to witness a CAGR of 9.8% during the forecast period from 2022 to 2030.
The heightened production of animal-based food products will lead to a significant price reduction, facilitating easy access to food at affordable prices. The market for animal health is also driven by technological advancements in veterinary health care, and this is anticipated to offer future growth opportunities. These advancements include the advent of efficient information management systems, animal owner mobile technology, and vaccine banks. Growing focus on innovation in animal health has given rise to certain measures that are strengthening market growth prospects.
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Key players:
• Intervet International B.V.
• Boehringer Ingelheim International GmbH
• Emergent BioSolutions Inc.
• Elanco Animal Health Incorporated
• Virbac
• Emergent BioSolutions Inc.
• Merck & Co. Inc.
• IDEXX Laboratories Inc.
• Zoetis Inc.
• Vetoquinol S.A.
• Ceva Santι Animale
• Televet
By Product:
• Diagnostics
• Drugs
• Feed
• Vaccines
By Animal Type:
• Companion Animals
• Farm Animals
Regional Analysis-
• The Asia-Pacific market is anticipated to grow at a higher CAGR during the forecast period.
• Major factors contributing to the growth of Animal Health market in this region include the rising incidence of chronic infectious diseases, rising awareness regarding growing applications of Animal Health, and increasing research activities in the field of Animal Health.
• The emergence of local players and new product launches has also played a critical role in boosting the Animal Health market in this region.
Browse the full report now: https://growthplusreports.com/report/animal-health-market/7874
Key Questions Answered in the Report Include:
(1) This report gives all the information about the industry analysis, revenue, and overview, of this market.
(2) What will be the rate of increase in market size and growth rate by the end of the forecast period?
(3) What are the major global Animal Health Market trends influencing the development of the market?
(4) What are the vital results of SWOT analysis of the major players operating in the Animal Health Market?
(5) What are the potential growth opportunities and threats faced by Major competitors in the market?
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