Press release
Animal Health Market 2023 | Worth US$ 45.2 Billion by 2028 | Growth Rate (CAGR) of 3.36% | IMARC Group
Animal Health Market
The global animal health market size reached US$ 36.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.36% during 2023-2028.
Animal health represents the routine monitoring of animals to prevent them from contracting several diseases. It generally comprises of various services and items, including vaccines, parasiticides, feed additives, antibiotics, growth promoters, antimicrobials, etc. Animal health products are widely utilized to cater to the well-being of companion and food-producing animals. They ensure a safe food supply chain by minimizing the spread of zoonotic diseases. Consequently, pet and livestock owners across the countries are spending extensively on animal health products with the intention of keeping their animals productive as well as healthy.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The escalating demand for protein-rich food items and the rising prevalence of food-borne diseases are among the primary factors driving the animal health market. Besides this, continuous technological advancements in veterinary healthcare, including the development of vaccine banks and efficient information management systems, are further catalyzing the market growth.
Moreover, the launch of numerous favorable policies by government bodies and the introduction of animal vaccination programs to optimize the veterinary sector are acting as significant growth-inducing factors. Apart from this, the expanding production of animal-based food products and their easy availability within affordable price ranges are also positively influencing the global market. Additionally, the emergence of new zoonotic disease variants and the increasing concerns among livestock owners towards the same are anticipated to fuel the animal health market over the forecasted period.
Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/animal-health-market
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
• Bayer
• Elanco
• Merck
• Merial
• Zoetis Inc.
• Biogenesis Bago
• Boehringer Ingelheim
• Ceva Sante Animale
• Heska
• Neogen
• Novartis
• Thermo Fisher Scientific
• Vetoquinol
• Virbac
Breakup by Animal Type:
• Commercial Animals
• Companion Animals
Breakup by Product Type:
• Pharmaceuticals
• Biologicals
• Medicinal Feed Additives
• Diagnostics
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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