Animal Health Market Size Hit $ 119. 57Bn, Globally, by 2027 Growing at 6. 3% CAGR | Exclusive Report by The Insight Partners – Yahoo Finance

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The Insight Partners

The Insight Partners

The global animal health market is expected to reach US$ 119. 57099 billion by 2027 from US$ 73. 79833 billion in 2019. The market is estimated to grow at a CAGR of 6. 3% from 2020 to 2027.

New York, Aug. 03, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on ‘ Animal Health Market Forecast to 2027 – Covid-19 Impact and Global Analysis by Product, and Pet 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 plus animal welfare associations. However , the use of counterfeit medicines, and high complexity and cost of animal drug development plus approval processes are likely to restrain the market growth during the forecast period.

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Animal Health Market Report Scope & Strategic Insights:

Report Coverage

Details

Market Size Value in

US$ 73. 79833 Billion in 2019

Market Dimension Value by

US$ 119. 57099 Billion by 2027

Growth rate

CAGR of 6. 3% from 2020 to 2027.

Forecast Period

2020-2027

Base Year

2020

No . of Pages

195

No . Tables

95

No . of Charts & Figures

69

Historical data available

Yes

Segments covered

Product and 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 prediction, company ranking, competitive landscape, growth 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 wellness 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 associated with 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.

  • Within February, 2020, Vetoquinol SA announced the acquisition of Profender and Drontal product families from Elanco Animal Health. It will also acquire intellectual property, registrations and other rights currently owned by Bayer AG’s animal health business.

  • In November 2019, Zoetis Inc. acquired ZNLabs, a full-service veterinary clinical reference laboratory company that has a wide network of labs across the US.

  • In November 2019, Cargill, Incorporatedhas expanded its Pet Nutrition & Health 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 Wellness 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 common 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 from 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 of illness and millions of dying occur from zoonoses. Hence, emerging and re-emerging associated with zoonotic diseases have become a significant factor raising the need 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 of food consumption and are the major factors leading to the increase in meat and milk consumption, globally. Livestock items have emerged as a primary source of dietary proteins. With population growth and elevated living standards, rapid development in the consumption of animal products has forced the livestock industry 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 and poultry meat, while in East Asia, pork is the predominant product consumed. However , in China, the consumption of poultry meat and eggs has increased in the last decade. As per Our World in Data, the global demand for meat is growing: over the past 50 years, meats 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, dairy, and meat, the global emphasis has shifted over increasing the production of farm creatures. 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 animal 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 pet diseases, along promoting the particular privatization of 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 for 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, veterinary healthcare associates support the 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) at the Los Angeles County Department of Public Wellness to develop both animal and human wellness.

For instance, within March 2020, Bayer AG announced the launch associated with Care4Pigs initiative; this was launched in collaboration with the Farm Animal Welfare Education Centre (FAWEC) and the Korean Association of Swine Veterinarians (KASV). Under the collaboration, EUR ten, 000 are granted to support innovation aimed at enhancing the particular well-being of swine.

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Animal Health Market: Segmental Overview

The animal health market, based on product, is segmented into prescription and non-prescription. The particular prescription segment is further segmented into vaccines, pharmaceuticals, feed additives, and diagnostics. Whereas the non-prescription is subsegmented into parasiticides, grooming products, and nutrition/supplements. The prescription segment held a larger share of the market in 2019. However , the non-prescription segment is estimated to register a higher CAGR in the market during the forecast period.

The animal health market, depending on animal type, is additional segmented into animal plus companion animal. The production pet segment held a larger share of the market in 2019. Whereas the companion animal segment is estimated to join up a higher CAGR in the market throughout the forecast period.

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Browse Adjoining Reports:  

Animal Parasiticides Market Forecast to 2028 – Covid-19 Impact and Global Analysis – By Product (Endoparasiticides, Ectoparasiticides, Endectocides); Animal Type (Dairy plus 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 to 2027 – COVID-19 Impact and Worldwide Analysis – by Item (Poultry, Porcine, Bovine, Canine, and Others), Genetic Material (Semen and Embryo), plus Services (DNA Typing, Genetic Trait Tests, Genetic Illness Tests, and Others)

Pet Feed Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Form (Pellets, Crumbles, Mash, Others); Livestock (Poultry, Ruminants, Swine, Aquaculture, Others); and Location

Companion Animal Diagnostics Marketplace Prediction to 2027 – COVID-19 Impact and Global Evaluation by Technology (Immunodiagnostics, Clinical Biochemistry, Hematology, Urinalysis, Molecular Diagnostics, and Others); Application (Bacteriology, Clinical Pathology, Virology, Parasitology, and Others); Animal Type (Dogs, Cats, Horses, and Others); End User (Diagnostic Laboratories, Veterinary Hospitals plus Clinics, Research Institutes and Universities); and Geography

Companion Animal Vaccines Market Forecast in order to 2028 – Covid-19 Effect and Global Analysis — By Type ( Dog Vaccines, Feline Vaccines ); Technology ( Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other Vaccines ) and Geography

Companion Animal Specialty Drugs Market Forecast 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 Products, Vaccines Product); Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies plus Drug Stores)

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