Animal Health Market to Reach $45. 42 Billion by 2028 Thanks to Increased Attention to Preventive Animal Care and Growing Outbreak of Animal Related Diseases – Yahoo Finance


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Global animal health market size was valued at $35. 1 billion in 2021, and it is expected to reach a value of $45. 42 billion by 2028, at a CAGR of 3. 75% over the forecast period (2022–2028). The number of pet owners around the globe is increasing for a variety of reasons. One reason is that people are living longer and healthier lives, which means they have more time to devote to their pets. Another reason is that more people are working from home, which gives them more time to spend with their pets. And finally, as the world becomes increasingly stressful and uncertain, people are turning to pets for companionship and emotional support. Whatever the reason, there’s no doubt that the trend toward pet ownership is on the rise.

Westford, USA, July 11, 2022 (GLOBE NEWSWIRE) — Animal health market is witnessing high demand for drugs, vaccine and supplement due to the growing number of pet ownership. The American Pet Products Association (APPA) reports that there are approximately 8. 4 million owned cats and 7. 2 million owned dogs in the United States. This is an increase from previous years, which shows that more people are interested in owning pets. As a result of this increase in pet ownership, there is also a corresponding increase in the need for animal health services.

There are a variety of animal health services that are available, ranging from routine check-ups and vaccinations to more specialized care such as surgery and dental work. Some animal health service providers in the global animal health marketplace also offer boarding and grooming services. Routine check-ups plus vaccinations are important for all animals, as they help to ensure that they remain healthy and free from disease. These types of services can be provided by most veterinarians or animal hospitals. More specialized care, such as surgery or even dental work, may require a referral to a specialist such as a veterinarian surgeon or dentist. Boarding and grooming solutions can be provided by some veterinarians, animal hospitals, or specialty businesses.

Pet Ownership is On the Rise as People are Moving to Nuclear Family and Consider Pet as Their Family Member

There are a number of different surveys and studies that have been conducted in order to try and get a better understanding of pet possession around the globe. Unfortunately, there is no one definitive source for this information. However , some of the more reliable estimates in the global pet health market put the global pet ownership rate at around 33%. The majority of domestic pets globally are dogs, with an estimated 50% of households owning at least one dog. As of 2021, there are around 473 million pet dogs across the globe. This is followed by cats, with an estimated 30% of households buying at least one cat and the number is estimated to be 370 million. Other popular household pets include fish, birds, rabbits, and rodents.

In terms of regional breakdown of the global animal health market, North America has the highest rate of pet ownership in the world, with approximately 65-70% associated with households owning at least one dog. Wherein, around 90% of household has some sort of animal as pet. Europe comes in second place with an approximated 55-60% of households owning at least one pet. Australasia/Oceania has a slightly lower rate associated with pet ownership (around 50%), while Asia and Africa have the lowest rates (both below 40%).

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Growing Outbreak of Animal Transmitted Diseases

There is no doubt that animal-transmitted diseases can have a significant impact on both human and economic wellness. A recent example is the outbreak of SARS-CoV-2, which originated from contact with infected animals and has since spread globally, causing over two million cases of human infection and resulting in over 100, 000 deaths (as of May 2020). The economic burden of this outbreak has been estimated to be around $8 billion. The outbreaks have proven to be boosters in the global animal health market growth. As the marketplace players realized a huge demand for related vaccine plus drugs to prevent the infection of these disease among pets.

Other examples of economically costly animal-borne disease outbreaks in the animal health market include: the 2002-2004 SARS outbreak, which cost an estimated $40 billion; the 2009 H1N1 influenza pandemic, which had an economic impact of $60-$100 billion; and the 2014 West African Ebola virus break out, which had a total approximated cost of $5. 8 mil.

There has been a recent outbreak of animal illnesses that have been transmitted to humans. These diseases include rabies, avian influenza, and hantavirus. While these outbreaks are not yet widespread, they have caused concern among health officials.

Rabies is a viral disease that is transmitted through the bite of an infected animal. Symptoms of rabies include fever, headache, muscle weakness, and paralysis. If left untreated, rabies can be fatal. Avian influenza is a virus that primarily affects birds, but can also infect people who come in contact with infected parrots. Globally, more than 59, 500 people fall prey to the infection. Wherein, it is highly predominant in Asia and Africa. In fact , over, 95% of case occur in these regions. On the other hand, India accounts around 60% deaths in Asia. However , the prevalence of animal acquired infection is found to be less dominant within developed regions like Europe and North America animal wellness market as pet owners are highly aware about prevention care and they do not hesitate to take all the precautionary measure. As a result, these regions are observing high demand for drugs plus vaccine for maintaining family pet health.

Avian influenza is a highly contagious viral infection that affects birds. The virus can cause severe respiratory illness in wild birds and can be deadly. Bird influenza viruses are classified into two groups, low pathogenic and high pathogenic, based on their ability to cause disease in birds. Low pathogenic avian influenza viruses typically cause mild respiratory illness in birds and do not often result in death. High pathogenic avian influenza infections, on the other hand, can cause severe respiratory system illness and death in birds.

The prevalence of avian influenzas varies across global pet health market depending on the strain of virus involved. Lower pathogenic avian influenza viruses are much more common than high pathogenic strains and usually result in only minor breakouts of disease. High pathogenic avian influenza viruses are much less common, but can cause large-scale outbreaks of disease when they do occur. In recent years, there have been several outbreaks associated with highly pathogenic avian influenza around the world, including one that resulted in the deaths of millions of chickens in Asia. The particular economic burden of avian influenzas can be quite significant. In addition to the cost of treating sick chickens, there are also the costs associated with preventing the spread of the illness. This includes things like increased biosecurity measures, testing, and quarantine procedures. The impact on the poultry industry can be devastating, as it can lead to production losses and trade restrictions. In some cases, entire flocks have had to be culled in order to prevent the further spread of disease. The human health impacts of bird influenza can also be significant. While most people who become infected will recover without any serious problems, a small percentage will develop severe respiratory illness that can lead to death. The global impact of avian influenza pandemics has been estimated at billions of dollars. Every year, avian influenza affects over 200 million birds within the animal health market, especially poultry and the economic problem may go up to $5. 8 billion. However , it can be prevented by the use of vaccine.

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Preventive Care is gaining all the Popularity in the Animal Health marketplace

Precautionary care is gaining all the popularity in animal health. This is because it helps to keep animals healthy and free from diseases. It also helps to reduce the number of vet visits and the cost of veterinary care. It involves a variety of activities including vaccinations, routine check-ups, parasite control, and weight management. Vaccinations help to protect animals from deadly illnesses such as rabies, distemper, plus parvovirus. Routine check-ups allow vets to identify health problems early and take steps to prevent them from becoming serious. Parasite control helps to keep animals free of fleas, ticks, and other parasites that can cause discomfort or disease. Weight management is important for preventing obesity, which can lead to a host of health problems including arthritis, diabetes, and heart disease.

Preventive care is one of the most important things pet owners are usually focusing on to keep their animal healthy and save money over the long term. As a result, the global pet health market is experiencing an increased demand for all the products required for maintaining animal wellness like vaccines. By investing in preventive care, they can avoid many costly and potentially deadly health problems. According to the American Dog Products Association, pets incur an average of $1, 035 within vet bills per year. However , this number jumps in order to $4, 070 for senior dogs and cats, who are more likely to develop age-related health problems. While some of those costs are unavoidable, numerous health problems can be prevented with regular check-ups, vaccinations, and routine maintenance like dental cleanings. For example , heartworm disease is a potentially fatal condition that is completely preventable along with monthly medication. If remaining untreated, heartworm disease can cost upwards of $5, 000 to treat in the animal health market. Similarly, dental disease is among the most common health problems in dogs and cats and can lead to expensive veterinary procedures if not caught earlier enough. A professional teeth cleaning can cost between $200 plus $800 depending on the severity from the problem.

Pet Owners Have Become More Educated than Ever as They Have Started Ignoring Processed Food and Artificial Ingredients

The pet food industry has seen a lot of changes in recent years. Pet owners have become a lot more educated about what they feed their pets and are now looking for foods that are free of processed ingredients and artificial additives. This trend has led to a boom in the natural and organic pet food within the animal health market, as well as an increase in the number of pet food companies that are offering these products.

There are a few reasons why this shift offers occurred. First, there is a growing awareness among pet owners of the importance of good nutrition for their pets. Just like people, creatures need to eat healthy, balanced meals in order to stay healthy and fit. Second, pet owners have become more concerned about the safety of processed foods plus artificial ingredients. These substances can be harmful to both people and animals, so it is no surprise that people are starting to avoid all of them when possible.

Finally, many pet owners in the global animal health marketplace simply prefer the taste and texture of natural and organic foods over processed ones. They find that their pets enjoy these foods just as much as (or even more than) traditional kibble or canned food. And since they know that their pets are getting all the nutrients they need from these natural sources, these people feel good about feeding them this way and cats, so it is important for all pet owners to be aware of what they are feeding their furry friends.

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Changing Environment is Adversely Affecting Animal Health But Positively Driving Growth of Pet Health Market

As the world becomes more populated and development pressures increase, the need for animal drugs plus vaccines is also increasing. The main drivers of this demand are changes in environment (including climate change), new and emerging diseases, continued livestock production intensification, international trade in animals and animal products, and antimicrobial resistance.

The changing environment is having a profound impact on both the quantity plus quality of food production worldwide. In addition to climate change, other important drivers consist of water scarcity, land degradation, and declining soil fertility. These trends are forcing farmers to adopt new technologies and practices that help them cope with these challenges while continuing to produce food for an ever-growing population. Among these technologies are pet vaccines and drugs, which play an increasingly important role in protecting livestock from condition and boosting productivity. Consequently, the animal health market will be gaining all the market growth under the vaccines and medicines categories.

New and emerging diseases are usually another key driver of demand for animal vaccines and drugs. As human populations continue to grow and move into new areas, they come into contact with new pathogens that can cause disease in both humans and animals. In many cases, these diseases have no cure or treatment available, making prevention through vaccination critical in the global animal health market. Even when treatments exist, they may be expensive or difficult to administer in remote areas where outbreaks occur.

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