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Animal Health Market Growth is Expected to Account for 7.6% CAGR to Gain USD 75.2 Billion by 2030

Nov 13, 2023 9:42 PM ET

Animal Health Market Growth is Expected to Account for 7.6% CAGR to Gain USD 75.2 Billion by 2030

Animal Health Market Research Report Information by Animal Type (Farm Animal, Companion Animal), by Product (Pharmaceuticals, Vaccines, Feed Additives), Route of Administration (Oral, Parenteral, Topical), Distribution Channel (Veterinary Hospitals & Clinics, Retail, E-Commerce), and by Region (North America, Europe, Asia-Pacific, Middle East, and Africa)—Forecast till 2030

The Animal Health Market Information By Distribution Channel, Animal Type, Product, Route of Administration And Region – Forecast till 2030 research by Market Research Future (MRFR) states that the market will reach USD 75.2 Billion by 2030 at a 7.6% CAGR.

Animal health care focuses on the well-being of farm animals and pets. Animals can contract parasites and other diseases, much like humans do. These illnesses need to be diagnosed, prevented, and controlled. This substantial market expansion is primarily due to several causes, such as the growing global pet adoption trend, increased consumption of meat and dairy products, rising incidence of zoonotic and foodborne illnesses, and increased pet adoption as a companionship. Many humans and animals now live with better living standards because of technological improvements. Better care results for dogs and their owners have also resulted from using technology. Originally used only on humans, MRIs, ultrasonic scans, and laparoscopies are now employed to treat pets and other animals. Due to the rising frequency of sickness in livestock and poultry, pharmaceutical companies have found that working on new treatments and medications is a lucrative opportunity. In animal health, the immunizations category has the largest market share. Given that vaccinations can strengthen the immune systems of household pets like dogs, cats, and horses.

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Reduced revenues, supply chain or channel interruptions reduced demand and purchase rates, and operational challenges brought on by shifting global rules are just a few of the pandemic’s negative effects. Conversely, telemedicine as a trend saw a notable upsurge throughout the pandemic. When buying pet food and vet supplies, online channels like e-commerce have become the most popular among pet owners. As a result of technological breakthroughs like digital communication, traditional X-ray films have been replaced by digital radiography. Nevertheless, the industry has no evidence that any vaccine can give a pet a fully functional immune system. The field of medicine that deals with the illness, disorder, and injury avoidance, management, evaluation, and treatment of animals is known as animal healthcare. In addition, it works on product development, breeding, study of nutrition, and animal husbandry.

Market Competitive Landscape:

  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animale
  • Alvira Animal Health Limited
  • Vetoquinol S.A.
  • Bayer AG
  • Boehringer Ingelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd.
  • Zydus Animal Health
  • Norbrook Laboratories Limited
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC
  • Norbrook Laboratories, Inc

Browse In-depth Market Research Report (178 Pages) on Animal Health:

Market Segmentation

By Distribution Channel, the market includes Veterinary Hospitals & Clinics, Retail, and E-Commerce. By Animal Type, the market includes Farm Animal and Companion Animal. By Product, the market includes Pharmaceuticals, Vaccines, and Feed Additives. By Route of Administration, the market includes Oral, Parenteral, and Topical.

Regional Insights

With the biggest revenue share, North America commanded the animal health market. This is explained by the extensive array of decisive actions taken by government agencies and animal welfare groups continuously striving to improve animal health. Additionally, the market is anticipated to rise because of advances in animal diagnostic technology, increased zoonotic illness cases, and growing pet owner awareness. It is expected that several joint initiatives by large corporations to improve their R&D capacities and guarantee high standards would further stimulate demand in this area.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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