The latest report by IMARC Group, titled “Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global animal health market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Animal Health Industry Growth Analysis & Future Forecast:
The global animal health market size reached US$ 36.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.36% during 2023-2028.
Animal health means the absence of disease or the normal functioning of animals. Safeguarding the animal’s health and preventing diseases protects public health, animal production, food security, food supply, rural economies, and the environment. It encompasses animal diseases and the interplay between animal welfare, human health, environment protection, and food safety. The maintenance of animal health helps prevent the spread of zoonotic diseases. Animal healthcare is an expanding sector that fulfills the needs of a wide range of livestock and companion animals. Various market players are focusing on producing companion animal healthcare products and services.
Animal Health Market Trends:
The global market is majorly driven by the increasing awareness of animal diseases. In line with this, the stringent government regulations for the protection of animals and the rising focus on prevention from diseases originating from animal epidemics are significantly contributing to market growth. Furthermore, the substantial rise in pet adoption and the growing prevalence of zoonotic and food-borne diseases are positively influencing the market. Apart from this, technological expansions and the advent of information systems are catalyzing animal health market growth.
Moreover, the escalating public-private partnerships to cater to the demand for animal care products are propelling the market. Besides, the increasing awareness about preventive measures and the widespread availability of treatment options are strengthening the market. Additionally, the growing research and development activities in veterinary medicine are offering numerous opportunities for the market expansion.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Bayer
- Elanco
- Merck
- Merial
- Zoetis Inc.
- Biogenesis Bago
- Boehringer Ingelheim
- Ceva Sante Animale
- Heska
- Neogen
- Novartis
- Thermo Fisher Scientific
- Vetoquinol
- Virbac
Key Market Segmentation Breakup by:
Animal Type:
- Commercial Animals
- Companion Animals
Product Type:
- Pharmaceuticals
- Biologicals
- Medicinal Feed Additives
- Diagnostics
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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