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Animal Healthcare Market Size, Industry Share | Forecast 2028

Animal Healthcare Market Size, Industry Share | Forecast 2028

The global animal healthcare market size was valued at USD 48.62 billion in 2021 and is poised to grow at a significant CAGR of 8.4% over 2022-2028. All goods and services that increase livestock productivity and animal health are under the umbrella of the animal health business, except pet food and livestock feed. Medicines & vaccines, pet supplies, dietary supplements, medical equipment, and other associated products and services are among them. An aging population, expanding demand for companion and working animals, and continued economic prosperity are the main factors propelling the animal healthcare market. The veterinary healthcare market is projected to be driven by an increase in the prevalence of zoonotic illnesses. Growing interaction with diseases as a result of an increase in pet adoption for companionship is dispersing animal-borne diseases over the globe.

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Animal Healthcare Market Growth Factors:
Animals can be protected against diseases with the use of more efficient vaccines and delivery systems. Furthermore, creating new items that treat or prevent bacterial infections has a good effect on the health and welfare of animals. The market for animal healthcare can profit greatly from early disease detection and focused therapies, which also supports sustainable growth. Enhancing support for overall animal health and well-being as well as increasing sustainability are both achieved by enhancing animal health through precise nutrition and feed additives. In addition to this, a greater understanding of animal health problems amongst pet owners will fuel the rise of the animal healthcare market. The expansion of the market will also be fueled by several government schemes to assist pet healthcare. Around the world, a number of governments and commercial organizations are attempting to develop the industry. There will be a substantial need for animal healthcare solutions due to rising livestock production and rising pet health costs.

Animal Healthcare Market Segmentation:
The animal healthcare market on the basis of Product, the market is segregated into Vaccines, Anti-infectives, Antibiotics, Parasiticides, Feed Additives, and Others. On the basis of Animal, the market is divided into Pets, Poultry, Ruminants, Swine, Others.

Animal Healthcare Market Regional Analysis:
The number of retail and hospital pharmacies offering veterinary medications, dietary supplements, pet immunizations, etc. for the efficient treatment of various illnesses and accidents in animals is rapidly increasing in India. The biggest opportunity for Indian players in the animal healthcare market is the growth of eCommerce and online pharmacies. Also, the Animal Healthcare Market's largest market is in North America. The North American region has become the main market due to a number of factors, including technological advances, a rise in zoonotic diseases, and an increase in the number of pet owners in the nations, as well as a wide range of effective measures adopted by government animal welfare organizations.

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Key players profiles in the animal healthcare market report Boehringer Ingelheim Gmbh, Zoetis Inc., Elanco, Merck & Co. Inc., Bayer Animal Health, Virbac SA.

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