Press release
Artificial Intelligence (AI) In Animal Health Market 2024 - Industry Size, Future Insights, Growth Drivers And Top Players
Artificial Intelligence (AI) In Animal Health Market
According to The Business Research Company's, The artificial intelligence (AI) in animal health market size has grown exponentially in recent years. It will grow from $1.21 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to increasing applications of AI, availability of ai-based solutions, initiatives by key companies, growing expenditure on animals, integration of ai in veterinary diagnostics.
The artificial intelligence (AI) in animal health market size is expected to see rapid growth in the next few years. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to precision management of livestock and veterinary healthcare, data-informed insights and innovative solutions, remote monitoring and diagnosis, early disease detection and anomaly identification, proactive healthcare and personalized medicine. Major trends in the forecast period include advancements in veterinary diagnostics, increased adoption of ai technologies, enhanced disease detection and monitoring, growing emphasis on animal welfare and conservation.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-in-animal-health-global-market-report
Market Drivers and Trends:
The increasing expenditure on animal health is expected to propel the growth of artificial intelligence (AI) in animal health market going forward. Expenditure on animal health refers to the total amount of money spent on maintaining and improving the health and well-being of animals. Expenditure on animal health is rising due to increased awareness, a growing trend of pet humanization, and the demand for advanced veterinary care services, including innovative technologies such as artificial intelligence. Pet owners with higher spending capacity can afford AI-powered telehealth services and remote monitoring solutions, allowing for continuous monitoring of their pets' health and virtual consultations with veterinarians. For instance, in June 2023, according to the American Pet Products Association, a US-based trade association representing the pet industry, Americans spent $136.8 billion on pet health in 2022, which is an increase of 10.68% from the previous year ($123.6 billion). Moreover, Vet Care services accounted for $35.9 billion. Therefore, increasing expenditure on animal health is driving the growth of artificial intelligence (AI) in animal health market.
Major companies operating in the artificial intelligence (AI) animal health market are developing advanced technologies, such as AI solutions for cattle feed recommendations, to improve livestock nutrition and farm management practices. This technology aims to enhance the efficiency of livestock farming by tailoring feed plans to the specific needs of individual animals or groups, considering factors such as their age, weight, health status, and nutritional requirements. For instance, in January 2024, Precision Livestock Technologies, a US-based provider of software and hardware solutions for livestock feeding and health, introduced the first system that uses artificial intelligence to predict cattle feed intake and make feeding recommendations. This system generates daily quantitative feeding predictions based on hundreds of data points gathered from PLT's machine vision bunk management system and external data sources. It takes into account feeding rates, feeding times, feeding cycles, cattle behavior, ration type, weather, and other factors.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14250&type=smp
Major Key Players of the Market:
Microsoft Corporation, International Business Machines Corporation, Zoetis Inc., VCA Animal Hospitals Inc., IVC Evidensia, IDEXX Laboratories Inc., Merck Animal Health, Heska Corporation, Agria Pet Insurance, PrecisionHawk, SignalPET, ImpriMed Inc., PetPace Ltd., VetNOW, Shenzhen Mindray Animal Medical Technology Co. Ltd., EIO Diagnostics Inc., Connecterra, GuardianVets, Halter USA Inc., Petriage Inc., Moichor Inc., OneCup Al, AgGenetics Inc., IMV Technologies, Felcana, Vet-Al, Alpha Phenomics Inc.
Artificial Intelligence (AI) In Animal Health Market 2024 Key Insights:
• The Artificial Intelligence (AI) In Animal Health Market is expected to grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%.
• Surge Of Animal Health Expenditure And Its Impact On The AI Animal Health Market
• Advancements In AI-Driven Livestock Health Management
• North America was the largest region in the artificial intelligence (AI) in animal health market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/customise?id=14250&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Artificial Intelligence (AI) In Animal Health Market 2024 - Industry Size, Future Insights, Growth Drivers And Top Players here
News-ID: 3685066 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Animal
Animal Health Market Sets the Table for Continued Growth : Zoetis Animal Healthc …
Advance Market Analytics published a new research publication on "Animal Health Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Animal Health market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled…
Animal Antimicrobials and Antibiotics Market 2023 Growth and Development By Bion …
Antibiotics, also called antibacterials, are a type of antimicrobial drug used in the treatment and prevention of bacterial infections. They may either kill or inhibit the growth of bacteria. Animal Antimicrobials and Antibiotics includes Premixes, Oral Powders, Oral Solutions and Injections on the base of classification, which represent 12.4%, 14.4%, 10.4% and 56.6% of global Animal Antimicrobials and Antibiotics market.
Get Sample Copy: https://www.worldwidemarketreports.com/sample/273708
Farm Animals and Companion Animals are the…
Animal Healthcare Market Analysis Focusing on Top Key Players - Merck, Bayer Ani …
Worldwide Market Reports recently released on the Animal Healthcare market for the forecast period, 2017 – 2022 is involved in screening the business environment and the companies operating in the Animal Healthcare industry. Importantly, the research sheds a lot of light on their winning strategies to help stakeholders, business owners, and field marketing executives stay ahead in the competition. Besides, the industry is thoroughly weighed upon on the basis of…
Animal Model Market trends, Animal Model Market growth, Animal Model Market size …
Key Findings of Animal Model Market
Developing Regions to Overpower Developed Ones With Regard to Demand
The Asian territory is on the verge of evolving as the next big destination for animal models. This growth can be attributed to various factors such as American and European pharmaceutical companies diversifying their research activities to curtail extra expenses and save costs. Although U.S and Europe have retained their legacy in the global market, their…
Animal Growth Promoter Market Outlook To 2023 – Bayer Animal Health, Biomin, B …
Nov 2018, New York USA (News)- Different categories of feed additives for farm animals are referred to as natural growth promoters (NGPs) or non-antibiotic growth promoters. They are commonly regarded as favorable alternatives to antibiotic growth promoters (AGPs) in livestock production. NGPs include predominantly organic acids, probiotics, prebiotics, synbiotics, phytogenics, tannins, feed enzymes and immune stimulants, an ongoing search for alternatives has created a large variety of NGPs for pigs,…
Animal Antimicrobials and Antibiotics Market Key Players : Animal Health, Bayer …
The term antibiotic or antimicrobial is used for those agents who kill or inhibit the growth of microorganism. The antimicrobials products have significant benefits to the animal and to human food safety. There are researches, which have proven that an increase in the rate of animal illness results in higher rate of human illness. Therefore, livestock dealers depend on animal antibiotics to provide safe food. The scope of this report…
