Animal Health Market Size Hit $ 119. 57Bn, Globally, by 2027 Growing at 6. 3% CAGR | Exclusive Report by The Insight Partners – GlobeNewswire
New York, Aug. 03, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on ‘ Pet Health Market Forecast to 2027 – Covid-19 Impact and Global Analysis by Product, and Animal Type, ’ the report highlights the trends prevalent in the global animal health market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due increasing incidences of zoonotic diseases, rise in demand for proteinaceous food, and initiatives by governments and animal welfare associations. However , the use of counterfeit medicines, and high complexity and cost of animal drug development and approval processes are likely to restrain the market growth during the forecast period.
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Animal Health Market Report Scope & Strategic Insights:
|Marketplace Size Value in||US$ 73. 79833 Billion in 2019|
|Market Size Value by||US$ 119. 57099 Billion by 2027|
|Growth rate||CAGR of 6. 3% from 2020 to 2027.|
|No . of Pages||195|
|No . Tables||95|
|No . of Charts & Figures||69|
|Historical data available||Yes|
|Segments covered||Product plus Animal Type|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, development factors, and trends|
Animal Health Market: Competitive Landscape and Key Developments
Merck & Co., Inc; Boehringer Ingelheim International GmbH; Ceva Santé Animale; Cargill, Incorporated; Zoetis Inc.; Bayer AG; Vetoquinol SA; Nutreco N. V; Virbac; and Elanco are among the leading companies in the global animal health market. Several companies are implementing organic strategies, such as products launch and expansions.
- In March 2020, Bayer AG launched Care4Pigs initiative in collaboration with the Farm Animal Welfare Education Centre (FAWEC) and the Korean Association of Swine Veterinarians (KASV). Under the collaboration, US$ 11, 037 were granted to support innovation aimed at enhancing swine well-being.
- In February 2020, Zoetis Inc. acquired the Diagnostic Science, a veterinary reference lab business. The acquisition enabled the company to strengthen its service portfolio.
- In February, 2020, Vetoquinol SA announced the acquisition of Profender and Drontal product families from Elanco Pet Health. It will also acquire intellectual property, registrations and other rights currently owned by Bajuware (umgangssprachlich) AG’s animal health business.
- In November 2019, Zoetis Inc. acquired ZNLabs, a full-service veterinary clinical reference laboratory organization that has a wide network of labs across the US.
- In November 2019, Cargill, Incorporatedhas expanded the Animal Nutrition & Wellness facility in Temple, Texas. It invested US$ Mn to build the manufacturing, packaging, warehousing, and shipping capabilities center. The facility centers will serve Cargill’s farm and ranch feed store owners and beef feed, customers. It will serve through reduced transportation costs for local customers and also, it has increased manufacturing capabilities.
- In September 2018, Boehringer Ingelheim International GmbH launched Semintra 10 mg/ml Oral Solution, to treat feline hypertension in cats. The medicine was available in selected European countries.
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Increasing Incidences of Zoonotic Diseases to Drive Animal Health Market
Animals can act as carriers of harmful bacteria, viruses, parasites, and fungi to humans, leading to illness, which are referred as zoonotic diseases or zoonoses. The clinical effect of zoonotic illnesses may range from mild to severe, plus might sometimes lead to death. Zoonotic diseases are prevalent in the world. As per the estimates of the Center for Disease Control (CDC), 3 out of every 4 new or upcoming infectious diseases in people comes from animals. In the past decades, many previously unknown infectious human diseases, such as Ebola virus, Human Immunodeficiency Virus (HIV), Nipah virus, West Nile virus, and Hantavirus infections, have emerged from animal reservoirs. Outbreaks such as severe acute respiratory syndrome (SARS) and avian influenza have reminded the potential of microorganisms through animal reservoirs to adapt to human hosts. More than three-quarters of the human diseases that are new, emerging, or re-emerging at the beginning of the 21st century are caused by pathogens that are originated from animals or products of pet origin. According to the WHO, about 1 billion cases associated with illness and millions of dying occur from zoonoses. Hence, emerging and re-emerging of zoonotic diseases have become a significant factor raising the demand for animal health, and this has triggered companies to produce advanced pharmaceuticals and vaccines to help animal owners or even other stakeholders to maintain the overall health of animals.
Increased urbanization and changes in lifestyle alter patterns associated with food consumption and are the major factors leading to the increase in meat and milk consumption, globally. Livestock products have emerged as a primary source of dietary proteins. With population growth and elevated living standards, rapid growth in the consumption of animal products has forced the livestock industry in order to adapt to this change and meet the expectations of society with improved-quality products. In addition , in South Asia, there has been a slow, but steady growth in the consumption of animal products, predominantly milk plus poultry meat, while in East Asia, pork is the predominant product consumed. However , in China, the consumption of poultry meats and eggs has increased in the last decade. As per Our World inside Data, the global demand with regard to meat is growing: over the past 50 years, meat production has more than quadrupled. The world now produces more than 320 million tonnes of meat each year. Moreover, to fulfill the demand for protein-rich food, such as eggs, milk, and meat, the global emphasis has shifted over increasing the production of farm animals. However , due to the mounted risk of transfer of animal diseases to humans, the need for animal healthcare products has also surged at the global level.
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At present, the veterinary healthcare market is receiving significant improvement from initiatives led by the pet welfare association’s governments and of several countries, globally. To increase the adoption of animal health services, governments directly get involved in activities raising awareness regarding animal diseases, along promoting the privatization associated with animal healthcare services. In Europe, the Livestock Insurance scheme was implemented to increase the efficiency and effectiveness of animal healthcare systems. Moreover, the World Organization regarding Animal Health (OIE) is the intergovernmental organization in charge of improving animal health worldwide. In the UK, the Cattle Health and Welfare Group (CHAWG) addresses important cattle health and welfare issues; however , in the US, at associations such as Winter Haven, vet healthcare associates support the particular human–animal bond and provide high-quality services for any situation. Similarly, the 2020 Healthy Pets Healthy Families Initiative (HPHF) was launched by the Veterinary Public Health Program (VPH) in the Los Angeles County Department of Public Health to develop both animal and human health.
For instance, in March 2020, Bayer AG announced the launch associated with Care4Pigs initiative; this was launched in collaboration with the Farm building Animal Welfare Education Center (FAWEC) and the Korean Organization of Swine Veterinarians (KASV). Under the collaboration, EUR 10, 000 are granted to aid innovation aimed at enhancing the well-being of swine.
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Animal Health Market: Segmental Overview
The animal wellness market, based on product, is segmented into prescription and non-prescription. The prescription segment is further segmented into vaccines, pharmaceuticals, feed additives, and diagnostics. Whereas the particular non-prescription is subsegmented in to parasiticides, grooming products, plus nutrition/supplements. The prescription segment held a larger share of the market in 2019. However , the non-prescription segment will be estimated to register a higher CAGR in the market during the forecast period.
The animal health market, based on animal type, is further segmented into animal and companion animal. The production pet segment held a larger share of the market in 2019. Whereas the companion animal segment is estimated to register a higher CAGR in the market during the forecast period.
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Browse Adjoining Reports:
Animal Parasiticides Marketplace Prediction to 2028 – Covid-19 Impact and Global Analysis – By Product (Endoparasiticides, Ectoparasiticides, Endectocides); Animal Type (Dairy and Food Producing Animals and Pet Animals) and Geography
Animal Therapeutics and Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type(Animal Diagnostic Products and Animal Therapeutics product. ); Animal Type(Companion animals, Cattle, Pigs, Poultry and Sheep)
Animal Genetics Market Forecast in order to 2027 – COVID-19 Effect and Global Analysis – by Product (Poultry, Porcine, Bovine, Canine, and Others), Genetic Material (Semen plus Embryo), and Services (DNA Typing, Genetic Trait Tests, Genetic Disease Tests, and Others)
Animal Feed Market Forecast to 2027 – COVID-19 Impact plus Global Analysis by Form (Pellets, Crumbles, Mash, Others); Livestock (Poultry, Ruminants, Swine, Aquaculture, Others); and Geography
Companion Pet Diagnostics Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Technology (Immunodiagnostics, Clinical Biochemistry, Hematology, Urinalysis, Molecular Diagnostics, plus Others); Application (Bacteriology, Clinical Pathology, Virology, Parasitology, and Others); Animal Type (Dogs, Cats, Horses, and Others); End User (Diagnostic Laboratories, Veterinary Hospitals and Clinics, Research Institutes and Universities); plus Geography
Companion Animal Vaccines Market Forecast to 2028 – Covid-19 Influence and Global Analysis — By Type ( Canine Vaccines, Feline Vaccines ); Technology ( Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other Vaccines ) and Location
Companion Animal Specialty Drugs Market Forecast in order to 2028 – Covid-19 Impact and Global Analysis : by Product Type (Antibiotics Segment, Anti-inflammatory Products Segment, Parasiticides, Heartworm, Behavioral Products, Nutritional Products, Skin Care Items, Vaccines Product); Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores)
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