Animal Health Market Size, Growth Share by Company like Elanco, Virbac, Nutreco N.V, Vetoquinol SA, Bayer AG, Zoetis Inc., Cargill, Ceva Sant� Animale

The animal health is maintained through regular screening and diagnosis of health problems. Diseases in animal can be prevented by diagnostics and vaccines. Maintaining proper hygiene for animal through grooming products also help in preventing the outbreak of zoonotic diseases. The global animal health market is being driven by factors such as zoonotic diseases, rise in demand for proteinaceous food, and initiatives by governments and animal welfare associations. On the other hand, the use of counterfeit medicines, and high complexity and cost of animal drug development and approval processes are likely to restrain the market growth during the forecast period. However, increase R&D activities are likely to offer growth opportunities for the animal health market during the forecast period.

Are you a Start-up willing to make it Big in the Business? Grab an Exclusive PDF Brochure at: https://www.theinsightpartners.com/sample/TIPRE00003540/?openpr-10144

The animal health market was valued at US$ 73,798.33 million in 2019 and is expected to grow at a CAGR of 6.3% from 2020 to 2027 to reach US$ 119,570.99 million by 2027.

The animal health market, by product, is further segmented into prescription and non-prescription. The prescription segment is subsegmented into vaccines, pharmaceuticals, feed additives, and diagnostics. Whereas the non-prescription is subsegmented into parasiticides, grooming products, and nutrition/supplements. The prescription segment held a larger share of the market in 2019. However, the non-prescription segment is estimated to register a higher CAGR in the market during the forecast period. Vaccines held the largest share of the animal health market and is also expected to continue its dominance in the coming years.

The growth of the market is attributed to few key driving factors such as increasing incidences of zoonotic diseases, rise in demand for proteinaceous food, and initiatives by governments and animal welfare associations. On the other hand, the market is likely to have plummeting growth due to high complexity and cost of animal drug development and approval processes.

The prescription segment captured a larger share in the global animal health market. Veterinary prescription products are labeled for use only by or on the order of a licensed veterinarian. The prescription-based product segment is likely to grow at a steady pace in the review period owing to the factors such as the increasing preference for generic drugs for animal care. During 2013-2015, the US Food and Drug Administration approved 22 generic animal drugs for cats and dogs, which have increased the adoption of generic drugs by veterinarians, thereby propelling the market growth for the prescription products.

Table of Content:
1. Animal Health Market - Key Takeaways
2. Research Methodology
3. Global Animal Health Market - Market Landscape
4. Global Animal Health Market - Key Market Dynamics
5. Animal Health Market- Global Analysis
6. Animal Health Market Analysis - By Product
7. Animal Health Market Analysis - By Animal Type
8. Animal Health Market - Geographic Analysis
9. Impact of COVID-19 Pandemic On Global Animal Health Market
10. Animal Health Market -Industry Landscape
11. Company Profiles

Buy Complete Report of Animal Health Market at: https://www.theinsightpartners.com/buy/TIPRE00003540/?openpr-10144

Reason To Buy This Report:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the animal health market.

Highlights key business priorities in order to assist companies to realign their business strategies.

The key findings and recommendations highlight crucial progressive industry trends in the global animal health market, thereby allowing players across the value chain to develop effective long-term strategies.

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution

Contact Us:
533, 5th Floor,
Amanora Chambers, East Block, Amanora Township,
Kharadi Road, Hadapsar, Pune-411028

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

This release was published on openPR.