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Animal Healthcare Market Global Industry Demand, Recent Trends, Size and Share Estimation
TMR prophesies the global animal healthcare market to attain a valuation of US$41.9 bn by the completion of 2019. In terms of product, the market could find feed additives securing a lion's share by the same year. By region, North America is projected to dominate the market with its larger share.
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Transfer of New Animal Diseases to Humans Raises Eyebrows, Augments Demand
Rising population of production and companion animals is anticipated to strengthen the demand in the world animal healthcare market. Companion animals are adopted as office or house guards and, of course, for companionship. Companion animals could also be adopted as part of therapies to reduce depression, loneliness, and other diseases as well. In some studies, pet ownership is researched to help reduce incidence of heart disease, control stress levels, and even lower blood pressure. Production animals, on the other hand, are raised or adopted mostly for producing milk and meat-related products.
The world animal healthcare market is forecasted to gain impetus on the back of the need to control new animal diseases. In the recent years, consumption of animal products such as meat and milk has been proved to be critical for the transfer of diseases from animals to humans. In this regard, demand for animal healthcare is envisaged to increase significantly.
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Protests of Animal Organizations against Animal Research Put Market on Back Foot
The international animal healthcare market is envisioned to see its growth propelled with the rise of aforementioned positive factors. However, there could be certain challenges that it needs to tackle for maintaining its growth for an extended period of time. Animal institutions and activists protesting against animal research and enactment of legislation not in the favor of animal researchers are predicted to arrest market growth in the near future. Furthermore, implementation of regulations that restrict excessive use of antibiotics in production animals could put additional pressure on animal healthcare companies.
However, growing concerns related to animal diseases and their transfer to humans, considering increasing consumption of meat products, are envisioned to improve animal healthcare demand during the course of the forecast period. Moreover, swelling expenditure on animal healthcare in the farming industry could create rewarding opportunities in the global market.
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The information presented in this review is based on a TMR report, titled "Animal Healthcare Market (Product - Feed Additives, Pharmaceuticals, and Vaccines; Animal - Companion Animals and Production Animals) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2019."
The global animal healthcare market has been segmented as presented below:
Global Animal Healthcare Market by Product
Feed Additives
Pharmaceuticals
Vaccines
Global Animal Healthcare Market by Animal
Companion Animals
Production Animals
Global Animal Healthcare Market by Region
North AmericaU.S.
EuropeFrance
Germany
Italy
U.K.
Asia PacificAustralia
China
India
Rest of the WorldBrazil
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants, uses proprietary data sources and various tools and techniques to gather, and analyze information.
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