Animal Health Market is estimated to be 3.47 Billion by 2030 with a CAGR of 5.8% during the forecasted period.

 


Animal health market involves various products and services that are applicable for the well-being and maintenance of food-producing and companion animals. Animal health products are used to cure, prevent, or reduce the risk of diseases, and to continuously monitor the welfare and health of animals. Animal health products consist of feed additives, antimicrobials, antibiotics, diagnostics products, vaccines, growth promoters, and other pharmaceuticals. Numerous products are covered by third market that are used to enhance the productivity of livestock.

The report. "Animal Health Market, By Animal Type (Production Animal (Poultry, Swine, Cattle, Sheep & Goats, and Fish) and Companion Animal (Dogs, Cats, Horses, and Others)), By Product (Vaccines (Live Attenuated Vaccines, DNA Vaccines, Recombinant Vaccines, Inactivated Vaccines, and Others), Pharmaceuticals (Parasiticides, Anti-infectives, Anti-inflammatory, Analgesics, and Others), Feed Additives (Nutritional, Medicinal, Diagnostics, Instruments, and Consumables), and Others)), By Distribution Channel (Retail, E-commerce, and Veterinary Hospitals & Clinics), By End-use (Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, and Others),  and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key Highlights:

·         In January 2018, Zoetis aquaculture division, PHARMAQ acquired Norland Sett Vaks to enhance
its portfolio for vaccines products.

·         In March 2018, Merck completed the acquisition of Vallee S.A. This acquisition was aimed to increase the former company’s animal health product portfolio and drive its presence in Brazil.

·         In April 2019, Merck acquired Antelliq Corporation operational in the digital field of animal traceability, identification, and monitoring solutions. This acquisition aimed to improve the veterinary vaccines and pharmaceutical solutions portfolio of the company.

Analyst View:

Advancements in veterinary health care technological is driving the growth of this market, and this is expected to offer future growth opportunities for the market. These advancements include introduction of efficient information management systems, vaccine banks, and animal owner mobile technology. High innovation focus on animal health care has led to rising certain measures that are strengthening the growth of the market prospects. For instance, the Innovative Medicines Initiative (IMI) is a public-private partnership to promote collaborative research in order to drive veterinary pharmaceuticals innovations in Europe.

A growing number of government initiatives to support animal health products is accelerated to the overall market. As per the data published by UN Department of Economic and Social Affairs, the global population is around 7.3 billion and it is projected to reach nearly 9.7 billion by 2050, of which 795 million people are malnourished, as per the projection of the International Fund for Agricultural Development (IFAD).

Before purchasing this report, request a sample or make an inquiry by clicking the following link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/2230   

 

Key Market Insights from the report:        

The global animal health market accounted for US$ 1.98 billion in 2020 and is estimated to be 3.47 billion by 2030 and is anticipated to register a CAGR of 5.8%. The market report has been segmented on the basis of animal type, product, distribution channel, end-user, and region.

·         By animal type, production animal segment continues to register for the maximum revenue share when compared to other animal type segments. This can be attributed to increased governments initiatives to ensure human food safety.

·         By product, feed additives segment is expected to register for the highest revenue share over the forecast period. Advancements in products which include the use of enzymes, metabolic modifiers, minerals, and probiotics are driving the growth of the segment.

·         By distribution channel, hospitals & clinics estimated for the dominant share in the animal health market in 2019. Growing number of hospital pharmacies, along with high procedural volume as a consequence of frequent readmission of pets for treatment, has boosted segment growth.

·         By end-user, the target market is segmented into reference laboratories, point-of-care testing/in-house testing, veterinary hospitals & clinics, and others

·         By region, North America is expected to register largest revenue share in the he animal health market over the foreseeable future. This can be attributed due to increasing government’s initiatives to promote and improve animal health in the region.

 

Competitive Landscape:

The prominent player operating in the global animal health market includes Bayer AG, H. Boehringer Sohn AG & Co. KG, Dechra Pharmaceuticals Plc, Cadila Healthcare Ltd., Elanco Animal Health Inc., Heska Corp., Norbrook Laboratories Ltd., Merck & Co. Inc., Virbac SA, and Zoetis Inc

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

To know more

Contact Us:

Sales

Prophecy Market Insights

Email- sales@prophecymarketinsights.com

 

Comments

Post a Comment

Popular posts from this blog

Patient Portal Market is estimated to be US$ 7862.01 billion by 2030 with a CAGR of 11.50% during the forecast period

Image
  Patient Portal Market  accounted for US$ 2643.21 million in 2020 and is estimated to be US$ 7862.01 million by 2030 and is anticipated to register a CAGR of 11.50%. The patients can share and view their health information and communicate remotely. These characteristics enables patients to look into various data points, such as diagnostic test results, medical history, and prescription information. Patient portal is one of the many tools that allow the healthcare payers and providers to arrive at outcomes, which are patient-centric. Rapid technological advancements in the digital space are rising the engagement level of patients in the entire healthcare ecosystem. Data points collected on a per-patient basis through patient portal can be used for performing pin-point diagnosis, designing better clinical trials, and helping in the elimination of administration of redundant therapies and drugs to individual patients. The report   "   Global Patient Portal Market, By P...
Read more

Knee Replacement Market is estimated to be 14.2 billion by 2029 with a CAGR of 4.3% during the forecasted period.

Image
  knee replacement market  accounted for 9.7 billion in 2020 and is estimated to be US$ 14.2 billion by 2029 and is anticipated to register a CAGR of 4.3%. The report " Global Knee Replacement Market, By Product ( Total Knee Replacement, Partial Knee Replacement, Kneecap Replacement, and Complex (or revision) Knee Replacement),  By End Users ( Hospitals, Orthopedic Centers, and Other ),  and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029” . Key Highlights: In March 2018, Smith and Nephew announced commercial release of bi-cruciate retaining Journey II XR total knee arthroplasty across the U.S. and Japan. The product launch was aimed at capturing large customer base with innovative product offering. In October 2018, Zimmer Biomet Holdings announced to collaborate with Apple to facilitate patient and surgeon connection during the knee and hip replacement procedures. Th...
Read more

Nuclear Medicine Market is estimated to be US$ 6.49 billion by 2030 with a CAGR of 4.30% during the forecast period

Image
  The Nuclear Medicine Market accounted for US$ 4.26 billion and is estimated to be US$ 6.49 billion by 2030 with a CAGR of 4.30% during the forecast period. Nuclear medicine may be a medicine involving the appliance of radioactive substances within the diagnosis and treatment of disease. Medicine imaging, during a sense, is "radiology done inside out" or "endoradiology" because it records radiation emitting from within the body instead of radiation that's generated by external sources like X-rays. Additionally, medicine scans differ from radiology, because the emphasis isn't on imaging anatomy, but on the function. For such reason, it's called a physiological imaging modality. Single photon emission computerized tomography (SPECT) and positron emission tomography (PET) scans are the 2 commonest imaging modalities in medicine.   The report "  Global Nuclear Medicine Market, By Diagnostics (Single Photon Emission, Computed Tomography (SPECT), an...
Read more