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Animal Health Market Size to Hit USD 67.56 Billion with 6.3% CAGR by 2026: Increasing Incidences of Zoonotic Diseases Worldwide will Drive Market, says Fortune Business Insights™

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Pune, India, Feb. 23, 2021 (GLOBE NEWSWIRE) — The global animal health market size is anticipated to reach USD 67.56 billion by 2026 owing to the increasing number of animal health issues worldwide. Animals have always been of immense help to man either as companions or as livestock. With time, man starting adopting animals and keeping them as pets. Animals, alike humans, are susceptible to infections and diseases and require medical aid. As per a recently published report by Fortune Business insights™ titled, “Animal Health Market Size, Share and Global Trend By Product (Drugs, Vaccines, Feed, and Diagnostics), By Animal (Livestock Animals and Companion Animals), By End User (Veterinary Hospitals & Clinics, Animal Care & Rehabilitation Centers, Diagnostic Centers, and Others) and Geography Forecast till 2026” the market size was USD 41.50 billion in 2018 and is anticipated to rise at a CAGR of 6.3%.
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Key Industry Development of the Animal Healthcare Market Include:May 2019 – The Food and Drug Administration permitted a regulatory approval for OxyMed LA product offerings to Bimeda, Inc. The product under this offers treatment of shipping fever complex and pneumonia for cattle, along with bacteria enteritis.Objectives of the ReportThe report on the veterinary healthcare market is based on qualitative and quantitative analysis of factors driving, repelling, and challenging the market. It also provides a well-presented segmentation of the market based on factors such as product, animal, end user, and region. Additionally, the report offers insights about key industry developments and recent innovations in the market with the list of market names and the blueprints chalked out by them to stay ahead of the market competition. Furthermore, the report lists the current animal healthcare market trends and opportunities and is available for sale on the company website.
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Increasing Number of Pet Owners and Emphasis on Animal Health to Propel GrowthThe increasing pet adoption is a major factor propelling animal health market growth. Besides this, analysts at Fortune Business Insights™ say, “the rising prevalence of diseases among animals, especially zoonotic diseases, is likely to promote the animal health market growth during the forecast period.” Zoonotic diseases can be transmitted from animals to humans; a few of which include bubonic plague, salmonellosis, anthrax, rabies, and West Nile virus. Besides this, the rise in the number of animal healthcare clinics worldwide will also drive the market.Presence of Advanced Teams for Research and Development Activities Will Aid Growth of the Market in North AmericaGeographically, the global animal health market is categorized into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. These regions are further categorized into nations. Among these, North America held the largest veterinary healthcare market share and generated a revenue of USD 14.12 billion in 2018.This is attributable to the presence of numerous animal health centers and technologically advanced team for research and development of novel therapeutics. Besides this, the rise in the number of pet owners and their rising concern for maintaining the health of their pets will help in the expansion of the market.
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Launch of Innovative Products to Intensify Market CompetitionMajor veterinary healthcare market manufacturers are focusing on the development of novel therapeutics for animal health disorders. Owing to the aforementioned factor, players are investing in research and development of medicated animal feed, vaccines, novel diagnostic tests, and drugs.The launch of new animal health service products such as the ones mentioned above will help players compete for the top position in the market competition. Besides this strategy, vendors are also investing in business expansion across various regions to strengthen their position across all geographies.
MajorCompanies in Market are as follows:Emergent BioSolutions, Inc.Boehringer Ingelheim International GmbHNovartis AGVirbacIntervet Inc.Bayer AGZoetisCevaMerck & Co., Inc.IDEXX Laboratories, Inc.CSL LimitedElanco
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Table of content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsRecent Industry Developments Such as Mergers & AcquisitionsPrevalence of Key Veterinary Diseases, in Major CountriesPet Ownership Statistics, in Key CountriesOverview of Pet Insurance, in Key CountriesTechnological Advancements in Veterinary Care productsKey Industry TrendsGlobal Animal Health Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By ProductDrugsAnti-InfectivesAnti-InflammatoryParasiticidesOthersVaccinesFeedDiagnosticsInstrumentsReagents & ConsumablesMarket Analysis, Insights and Forecast – By AnimalLivestock AnimalsCompanion AnimalsMarket Analysis, Insights and Forecast – By End UserVeterinary Hospitals & ClinicsAnimal Care & Rehabilitation CentersDiagnostic CentersOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaNorth America Animal Health Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis – By ProductDrugsAnti-InfectivesAnti-InflammatoryParasiticidesOthersVaccinesFeedDiagnosticsInstrumentsReagents & ConsumablesMarket Analysis – By AnimalLivestock AnimalsCompanion AnimalsMarket Analysis – By End UserVeterinary Hospitals & ClinicsAnimal Care & Rehabilitation CentersDiagnostic CentersOthersMarket Analysis – By CountryU.S.CanadaEurope Animal Health Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis – By ProductDrugsAnti-InfectivesAnti-InflammatoryParasiticidesOthersVaccinesFeedDiagnosticsInstrumentsReagents & ConsumablesMarket Analysis – By AnimalLivestock AnimalsCompanion AnimalsMarket Analysis – By End UserVeterinary Hospitals & ClinicsAnimal Care & Rehabilitation CentersDiagnostic CentersOthersMarket Analysis – By Country/Sub-regionU.K.GermanyFranceSpainItalyScandinaviaRest of Europe
TOC Continued…..
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Have a Look at Related Reports:E-prescribing Industry Analysis, By Delivery Mode (Web-based, On-premise), By Prescription Type (Controlled substance, Non controlled Substances) By End User (Hospitals, Physician’s offices, Pharmacies) and Regional Forecast, 2019-2026Pet Insurance Market Share & Industry Analysis, By Policy Coverage Type (Accident & Illness, Accident Only, Others), By Animal Type (Dog, Cat, Others), By Provider (Public, Private) and Regional Forecast, 2019-2026Veterinary/Animal Vaccines Market Size, Share & Industry Analysis, By Product (Inactivated, Live Attenuated, Recombinant, Others), By Animal (Companion, Livestock), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, Others) and Regional Forecast, 2019-2026Vaccines Market Size, Share & Industry Analysis, By Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated and Toxoid), By Route of Administration (Parenteral and Oral), By Disease Indication (Viral Diseases and Bacterial Diseases), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Region Forecast, 2019-2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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