Press release
2023 Comprehensive Analysis of Growth in the Global Animal Health Market: Latest Research Report Till 2028
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 refers to the overall well-being and medical condition of animals, both domestic and wild. It encompasses various aspects such as preventive care, disease diagnosis, and treatment to ensure the physical and mental health of animals. Veterinarians play a crucial role in animal health by providing medical services, vaccinations, and surgical interventions. Maintaining good animal health is essential for the sustainable growth of agriculture and the food industry. In the wild, conservation efforts focus on monitoring and protecting animal health to preserve biodiversity and prevent the spread of diseases.
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Animal Health Market Trends:
The global market is majorly driven by the increasing pet ownership. In line with this, the trend of treating pets as family members is significantly contributing to the demand for premium pet healthcare products and services. Furthermore, rapid technological innovations and medical advancements in veterinary care lead to better diagnosis and treatment options, positively influencing the market. Apart from this, the rising awareness of zoonotic diseases highlights the importance of animal health in preventing diseases from animals to humans, creating a positive outlook for the market.
Moreover, the expansion of livestock and poultry farming fuels the demand for animal health products to maintain herd health and productivity. Besides, the stringent regulations related to animal health and food safety drive compliance and the use of veterinary medicines, propelling the market. Additionally, animal disease outbreaks emphasize the need for preventive measures and biosecurity, boosting the market for animal health products. The growing popularity of pet insurance encourages pet owners to seek regular veterinary care and treatments, supporting the animal health market growth.
By the IMARC Group, Some of the Top Competitive Landscape Operating in the Market are Given Below:
• Bayer
• Elanco
• Merck
• Merial
• Zoetis Inc.
• Biogenesis Bago
• Boehringer Ingelheim
• Ceva Sante Animale
• Heska
• Neogen
• Novartis
• Thermo Fisher Scientific
• Vetoquinol
• Virbac
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/animal-health-market
Key Market Segmentation:
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
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
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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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