The Global Animal Health Market was valued at USD 47.21 Billion in the year 2020. The trend of pet ownership such as dogs, cats is booming due to humanisation of pets. Many people find comfort and companionship by adopting pets while staying at home. As a result, the demand for animal healthcare products such as food, medicines is rising tremendously and is expected to see huge growth in future.
Rising concern for several animal diseases have resulted in investments in vaccination, diagnosis of diseases and focus on healthy diet. Further, Veterinarian services help prevent or treat diseases and conditions to increase production of animal-based food items that would result in dramatic price reductions, allowing for quick access to nutritious food. Therefore, rising demand for animal- based products is driving the animal healthcare market
The outbreak of COVID-19 has affected the global economy of various sectors, including veterinary sectors. The lockdown and other restrictive actions taken to control the outbreak of the COVID-19 pandemic have negatively impacted the livestock sector, particularly the dairy and meat industries, and related processes. The meat trade was disrupted, while people’s consumption habits changed simultaneously due to food safety and quality concerns.
Also, with rising incidence of diseases in animals and growth in animal population, there has been growing focus on development of drugs for animal care. Various animal diseases arise each year, which provides opportunities for medicine-manufacturing companies to launch animal health products.
The nuclear family trend across the globe has accelerated pet ownership. Thus, growing human-animal bond defines consumers’ willingness to spend more money on their pets. Rising incidence of infectious diseases, technological advancements and increase in the investments by key players are key factors driving the growth of pet treatment market.
Scope of the Report
- The report presents the analysis of Animal Health market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Animal Health Market by Animal Type (Production Animals, Companion Animals).
- The report analyses the Animal Health Market by Product Type (Pharmaceuticals, Vaccines, Feed Additives).
- The report analyses the Animal Health Market by End User (Veterinary Hospitals and Clinics, Point-of-Care Testing, Others).
- The Global Animal Health Market has been analysed By Region (North America, Europe, Asia Pacific, LAMEA).
- The Global Animal Health Market has been analysed By Country (United States, Canada, United Kingdom, Germany, France, Italy, China, India, Japan, Brazil).
- The key insights of the report have been presented through the frameworks of SWOT Analysis, Porter Five Analysis. Also, the attractiveness of the market has been presented by region, by Product Type, by End User.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Zoetis, Merck & Co., Inc., Boehringer Ingelheim, Covetrus, Inc., Elanco Animal Health Incorporated, Virbac, IDEXX LABORATORIES, INC., Ceva Sante Animale, Vetoquinol, Phibro Animal Health Corporation
Key Target Audience
- Animal Health Companies
- Pharmaceutical and Biotechnology Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities