Global Animal Health Market was valued at USD 45.10 billion in 2019 which is expected to reach USD 69.87 billion by 2027 at a CAGR 6.5%. According to Qualiket Research report the global animal health market is anticipated highly competitive business landscape from 2020 to 2027.
Rise in incidences of zoonotic disease is the key driving factor which is expected to boost the global animal health market growth. Furthermore, increase in demand for animal products due adoption of pets will have the positive impact on market growth. Moreover, increase in awareness about preventive measures and availability of treatments will fuel the animal health market growth across the world. Also, increase in investments in research and development activities and development of new surgical techniques will propel the market growth over the forecast period.
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However, stringent animal regulation for new drug approval is the restraining factor which is expected to hamper the global animal health market growth. All drugs require USGDA (US Food & Drug Administration) approval.
The global animal health market is categorized into type, product, distribution channel, and region.
On the basis of type, the global animal health market is segmented into Production Animal (Swine, Poultry, Cattle, Fish, and Sheep & Goat), and Companion Animal (Horses, Cats, Dogs, and Others).
On the basis of product, the global animal health market is segmented into Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, and Others.
On the basis of distribution channel, the global animal health market is segmented into E-commerce, Retail, and Veterinary Hospitals & Clinics.
Market Key Players
Various key operating players are listed in global animal health market report are Merck Animal Health, Ceva Sante Animale, Animal Health, Dechra Pharmaceuticals, Intas Pharmaceuticals, Ltd., Vetoquinol SA, Bayer AG, Zoetis, Inc, Zydus, and Boehringer Ingelheim GmbH.
- The Qualiket Research study offers a detailed analysis of drivers and factors that limit the market expansion.
- The report provides qualitative and quantitative data about changing market trends, competition and opportunities in animal health market are covered in the report.
- The Qualiket Research delivers deep dive analysis of leading key players and their key strategies, helps in better understanding the global animal health market dynamics.
On the basis of region, the global animal health market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North America is the major revenue contributor in the global animal health market due to an increase in incidences of animal diseases and adoption of treatment and prevention of such diseases. Also, the rise in population animals in U.S is expected to propel the global animal health market growth over the forecast period. Also, the Europe and Asia Pacific is expected to register lucrative CAGR in near future, due to continuous research and development investments by key players in the global animal health market.
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