Press release
Animal Therapeutics and Diagnostics Market Growth Propelled by Rising Pet Adoption Rates and Innovative Trends
Animal Therapeutics and Diagnostics Market
What Is The Projected Market Size Of The Global Animal Therapeutics And Diagnostics Market And Its Growth Rate?
• The animal therapeutics and diagnostics market size currently stands at $48.99 billion in 2024 and will grow to $51.73 billion by 2025, with a compound annual growth rate (CAGR) of 5.6%.
• This growth can be attributed to increased pet ownership, advancements in veterinary medicine, prevalence of animal diseases, government initiatives, and globalization of veterinary services.
• By 2029, this market is expected to balloon to $67.2 billion with a CAGR of 6.8%.
• The key factors driving this forecasted growth include rising expenditure on pet healthcare, personalized medicine in veterinary care, expansion of biopharmaceuticals, and regulatory support for innovation.
What Is Driving The Growth In The Animal Therapeutics And Diagnostics Market?
Rising pet adoption rates are a major factor propelling the growth of the animal therapeutics and diagnostics market. The demand for these services has greatly risen as pet owners have become more aware of their pet's health needs. Increased willingness to spend on pet medical care, routine check-ups, and preventative care can also be seen. An illustration of this growing trend is evident in data from the American Pet Products Association which showcased a rise in pet ownership in US households from 66% in 2022 to a projected 86.9 million by October 2023. Similarly, animal health data from Animal Medicines Australia revealed that as of November 2022, 69% of households in Australia owned pets.
Request a Free Sample Copy: https://www.thebusinessresearchcompany.com/sample.aspx?id=10150&type=smp
Who Are the Key Players Driving Animal Therapeutics And Diagnostics Market Growth?
• Zoetis Inc.
• Boehringer Ingelheim Animal Health USA Inc.
• Virbac AH Inc.
• Ceva Animal Health Inc.
• Heska Corporation
• IDEXX Laboratories Inc.
• bioMérieux Inc.
• Thermo Fisher Scientific Inc.
• Randox Laboratories Ltd.
• Bio-Rad Laboratories Inc.
• Bayer Animal Health LLC
• Eli Lilly and Company
• Merck & Co. Inc. Animal Health Division
• Sanofi-Aventis Animal Health Inc.
• Elanco Animal Health Incorporated
• BioNote Inc.
• IDvet
• BASF Corporation
• Koninklijke DSM N.V.
• Evonik Industries AG
• MSD Animal Health
• Vetoquinol S.A.
• Phibro Animal Health Corporation
• Dechra Pharmaceuticals PLC
• Kindred Biosciences Inc.
• Neogen Corporation
• Abaxis Inc.
• QIAGEN N.V.
• Pfizer Animal Health
• Norbrook Laboratories Limited
What Are The Key Trends In The Animal Therapeutics And Diagnostics Market?
• Biotechnology advancements
• Digital health integration
• Increased focus on preventive healthcare
• Precision medicine for animals
• Rising demand for companion animal therapeutics
What Are The Segments Of The Global Animal Therapeutics And Diagnostics Market?
1) By Animal Type: Companion Animals, Cattle, Pigs, Poultry, Sheep
2) By Product: Animal Diagnostics Products, Instruments, Consumables, Animal Therapeutics Products, Anti-Parasitic Drugs And Antibiotics, Anti-Inflammatory Drugs, Anesthetics
Which Region Leads The Animal Therapeutics And Diagnostics Market?
In 2024, North America stood as the largest player in the animal therapeutics and diagnostics market. However, Asia-Pacific is projected to be the fastest-growing region in this market during the forecasted period.
Pre-book the Report for Swift Delivery: https://www.thebusinessresearchcompany.com/report/animal-therapeutics-and-diagnostics-global-market-report
What Is Covered In The Animal Therapeutics And Diagnostics Market Global Market Report?
- Market Size Analysis: Analyze the Animal Therapeutics And Diagnostics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Animal Therapeutics And Diagnostics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Animal Therapeutics And Diagnostics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Animal Therapeutics And Diagnostics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report: https://www.thebusinessresearchcompany.com/Customise?id=10150&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
• YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company, with over 15,000+ reports from 27 industries covering 60+ global geographies, is reputed for delivering comprehensive, data-rich research and insights. Further bolstered by 1,500,000 datasets, in-depth secondary research, and unique insights from industry leaders, you can secure the information you need to stay ahead.
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 Animal Therapeutics and Diagnostics Market Growth Propelled by Rising Pet Adoption Rates and Innovative Trends here
News-ID: 3829574 • Views: …
More Releases from The Business research company
Impact Of Rising Infrastructure Investment On The Market Growth Due To Increasin …
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 Hydrophilic Swelling Waterstop Market Through 2025?
In recent times, there has been robust growth in the hydrophilic swelling waterstop market size. It is expected to mature from a value of $0.87 billion in 2024 to $0.94 billion in 2025, illustrating a compound…
Emerging Trends to Drive Hot Melt Waterproofing System Market Growth at 7% CAGR …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hot Melt Waterproofing System Market Size Growth Forecast: What to Expect by 2025?
There has been a substantial expansion in the hot melt waterproofing system market in the last few years. It is projected to rise from $2.34 billion in 2024 to $2.52 billion in 2025, with a compound…
High-Pressure Blasting Service Market: Major Trends Reshaping the Future of the …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the High-Pressure Blasting Service Industry Market Size Be by 2025?
The market size for high pressure blasting services has seen substantial growth in the past few years. The market, which is predicted to rise from a value of $3.18 billion in 2024 to $3.40 billion in 2025,…
Impact Of Rising Construction Activities On The Market Growth Due To Increasing …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
High Performance Plasterboard Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the last few years, there has been a robust expansion of the high performance plasterboard market size. It's predicted to increase from $13.32 billion in 2024 to $14.21 billion in 2025, showcasing a…
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…
