Animal Pharmaceuticals Market - Industry Insights by Product, Animal Type, Size, Growth Factors and Demand Forecast to 2022

The global animal pharmaceuticals market is expected to grow at a CAGR of 7.7% forecast to 2022.

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The growth of the global market is largely driven by increasing consumption of meat and milk, and increasing zoonotic and food borne diseases. Due to growing health concern of related animals and their increasing number, the healthcare expenses in farms are surging globally. Animal farms are increasing globally, due to growing demand for protein rich foods, such as milk, eggs and meat. Increasing trend of pet adoption is another key factor driving the growth of the animal pharmaceuticals market.

The declining research and development productivity and growth of generic and OTC drugs for animal care are the key trend witnessed in the market.

The ectoparasiticides generated largest revenue in the global animal pharmaceuticals market. High prevalence of animals affected with ectoparasites is the key factor driving the growth of the ectoparasiticides market. The bronchodilators market would witness fastest growth during the forecast period.

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North America accounted for the largest share in the global market, owing to the large consumption of meat and milk products. The high level of urbanization leading to high standard of living is the key reason for large consumption of meat and milk products in North America. The U.S. contributed largest revenue to the North American as well as global animal pharmaceuticals market.

Increasing awareness regarding the livestock related diseases is the key reason behind the higher growth of the animal pharmaceuticals market for production animals.

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Some of the major players operating in the global market include Merck & Co. Inc., Vetoquinol S.A., Zoetis Inc., Virbac SA, Boehringer Ingelheim GmbH , Perrigo Company plc, Eli Lilly and Company, Sanofi and Bayer AG.

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