Demand for Global Animal Health Market Size to Surpass USD 87.07 Billion by 2026, Exhibit a CAGR of 8.7% – Comprehensive Research Report by Facts & Factors

SAN FRANCISCO, U.S., Oct. 06, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Animal Health Market By Animal Type (Companion and Production), By Product (Diagnostics, Feed Additives, Pharmaceuticals, Vaccines, and Others), By Distribution Channel (E-commerce, Retail, and Hospital Pharmacy), by End-Use (Reference Laboratories, Veterinary Hospitals & Clinics, Point-Of-Care Testing/In-House Testing, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” in its research database.

“According to the latest research study, the global Animal Health Market size was valued at approximately USD 48.56 billion in 2019. The market is expected to grow above a CAGR of 8.7% and is anticipated to reach over USD 87.07 billion by 2026.”

The report analyses the Animal Health market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Animal Health market.

Animal Health Market Overview:

Animal healthcare is a burgeoning sector that caters to the needs of a wide range of livestock and companion animals. Various existing businesses are increasingly focused on the production of companion animal healthcare products and services. Over the last few years, the companion animal healthcare industry has seen a range of technical and scientific developments. The amount of disposable revenue, pet ownership, and continuing technological advances all have an effect on animal healthcare.

In the last decade, pet ownership for companionship among senior people has increased dramatically. People mostly adopt pets for companionship, and the transition from pet owners to pet parents has shifted significantly.

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Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2020 updated report.
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2020
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter’s 5 Forces Analysis
• Facts and Factors research methodology

Key Insights from Primary Research

• As per the analysis, the Animal Health market is likely to grow above a CAGR of around 8.7% between 2020 and 2026.
• The Animal Health market size was worth around US$ 48.56 Billion in 2019 and is estimated to hit approximately US$ 87.07 Billion by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on product segment, the feed additives segment dominated the market, accounting for over 30% of total revenue. Veterinary hospital and clinic pharmacies had the majority of the market, accounting for more than half of all sales
• The increasing emphasis of government healthcare organizations on improving farming techniques and animal health is thought to be driving the segment’s growth.
• On the basis of region, North America secured the largest sales share of the global market of over 28%.

Competitive Players

The report contains qualitative and quantitative research on the global Animal Health Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company’s global presence, competitors, service offers, and standards.

Some of the main players in the global Animal Health market include:

• Merck Animal Health
• BoehringerIngelheim GmbH
• Ceva Santé Animale
• Kyoritsu Seiyako
• Vetiquinol S.A.
• Nutreco N.V.
• Zoetis
• Virbac
• Bayer AG
• Heska Corp.
• Elanco

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Market Dynamics:

A huge increase in global consumption of protein food, as well as an increase in the incidence of zoonotic and food-borne diseases, is driving the market. Companies have been spurred to develop new vaccines and pharmaceuticals as a result of the exponential increase in disease prevalence. As a result of the high demand, there has been a rise in the number of companies making consistent efforts to manage pathogen contamination threats and food-borne diseases, which is helping to drive market growth. Furthermore, the overall demand is expected to be influenced by the increasing number of government measures to support animal health products. Increased production of animal-based food items would result in dramatic price reductions, allowing for quick access to nutritious food. Technological advances in veterinary health care are also driving the industry, and this is expected to provide potential growth opportunities.

Air quality affects animal health and disease. The beneficial effect of eliminating toxins from the air, in turn, is linked to air quality. Moreover, because of rapid technological advances and increased research and development in the veterinary pharmaceutical industry, the animal health industry is thriving. Data generated in veterinary clinics can then be released on the internet and communicated with other practitioners and researchers combined with advanced technological systems. This innovation also assists in the study of variations in disease incidence in real-time.

Animal Health Market: Segmentation Analysis

In 2020, the feed additives segment dominated the market, accounting for over 30% of total revenue. Because of continuous advances in feed additives, such as the use of metabolic inhibitors, enzymes, minerals, and probiotics, it is expected to maintain its dominant role across the forecast period. The mentioned additives help to maximize feed utilization by facilitating a substantial increase in muscle development.

Furthermore, the increasing emphasis of government healthcare organizations on improving farming techniques and animal health is thought to be driving the segment’s growth. Certain additives, such as vitamins, antioxidants, and performance boosters, are permitted and recommended for use in feed by the European Union. However, from 2021 to 2026, the diagnostics segment is projected to grow at the fastest pace.

In 2020, veterinary hospital and clinic pharmacies had the majority of the market, accounting for more than half of all sales. The segment’s growth has been aided by a rise in the number of hospital pharmacies, as well as a high procedural volume as a result of regular readmission of pets for treatment. Major portions of the global market were also accounted for by retail outlets and e-commerce sites.

During the forecast period, the retail pharmacy segment is projected to expand at a moderate pace. For the distribution of drugs and vaccines, major manufacturers depend solely on licensed veterinarians and registered distributors. Over the forecast period, this is expected to propel the segment’s growth..

Browse the full “Animal Health Market By Animal Type (Companion and Production), By Product (Diagnostics, Feed Additives, Pharmaceuticals, Vaccines, and Others), By Distribution Channel (E-commerce, Retail, and Hospital Pharmacy), By End-Use (Reference Laboratories, Veterinary Hospitals & Clinics, Point-Of-Care Testing/In-House Testing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/animal-health-market

Regional Analysis:

Because of the broad variety of definitive initiatives implemented by various government animal protection agencies that are actively striving towards actual improvement in animal health, North America gained the largest sales market share in the global market in 2020. Furthermore, technological advances, an increase in the number of pets, and the growing occurrence of zoonotic diseases are expected to drive market growth in this area. The regional market is expected to be driven by many joint initiatives by major firms to enhance the R&D capabilities and maintain high-quality standards. Furthermore, the bulk of the share can be traced to the region’s high disease burden.

Employment, incomes, exports, and taxes are also directly supported by the animal health industry in the United States. Animal health products also help to sustain and enable other sectors, as well as improving the quality of life for millions of people in the United States. Animal health research leads to the production of vaccines and drugs for diseases like cancer, asthma, cardiovascular disease, and arthritis due to high levels of R&D investment.

Report Scope:

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The global Animal Health market is segmented as follows:

By Animal Type

By Product

• Diagnostics
• Feed Additives
• Pharmaceuticals
• Vaccines
• Others

By Distribution Channel

• E-commerce
• Retail
• Hospital Pharmacy

By End-Use

• Reference Laboratories
• Veterinary Hospitals & Clinics
• Point-Of-Care Testing/In-House Testing
• Others

By Region

• North America
• Europe
• Asia Pacific
• The Middle East & Africa
• Latin America

Request Your Free Sample Report of the Global Animal Health Market @ https://www.fnfresearch.com/sample/animal-health-market

Key Offerings:

• Market Size, Trends, & Forecast by Revenue | 2020 – 2026
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Animal Type, Product, Distribution Channel, End-User, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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