According to BlueWeave Consulting, the global Animal Healthcare market has reached USD 34 Billion in 2019 is estimated to reach USD 47.31 Billion by the year 2026, with a growing CAGR of 4.90% during the forecast period 2020- 2026. The main driving factors for the market are increased adoption of companion animals, increased consumption of meat and milk, and increased incidence of food-borne zoonotic diseases.
Animal healthcare is a prosperous industry providing the needs of livestock and companion animal to remain healthy. Presently, various recognized companies are progressively aiming at the development of healthcare services and products for different animals. The animal healthcare business has seen numerous technological and scientific advances over the past few years. Regulatory agencies have made it compulsory to immunize companion animals will lead to the growth and deep penetration for animal healthcare.
Growing animal husbandry around the world
Animal husbandry significantly contributes to the GDP of emerging nations around the world. It is because agriculture is the mainstream of livelihood in the underdeveloped and developing countries. Even today, cattle such as cows, buffaloes, goats, sheep that provide milk and meat are the primary source of income in rural as well as urban areas. But with the rising push on the quality of animal products and big and small companies entering the domain, animal husbandry has become technology-driven. This has led to a lot of importance in controlling outbreaks of new and old animal infections. As a result, the animal healthcare market has seen an upswing.
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Increase in Pet adoption and growing technology
The amount of disposable income, pet ownership, and ongoing technological changes also affect animal healthcare. Over the past decade, pet adoption for a companion among the elderly population has significantly expanded. Pets are adopted mainly for companionship by people, and the trend from pet owners to pet parents has shifted considerably the growing number of pets and the rapidly changing implications of technology. Increasing disposable income in developing countries and introducing animal-specific products will also boost the overall demand from the animal healthcare industry. The factors above will thus prove beneficial for the growth of the market.
The objective of the Study:
To analyze and forecast the global Animal Healthcare market size of the market in terms of value.
To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting the Global Animal Healthcare market into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
To outline, categorized, and forecast the global Animal Healthcare market based on Product, Animal Type, and Distribution Channel.
To examine competitive developments like technological advancement, services, and regulative framework within the global Animal Healthcare Market.
To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Scope of the Report
|Years Considered||Historical data – 2016-2019|
|Base Year – 2019|
|Forecast – 2020 – 2026|
|Facts Covered||Revenue in USD Million/Billion|
|Market Coverage||U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia|
|Product/Service Segmentation||By Product, Animal Type, and Distribution Channel|
|Key Players||Bayer AG, Cadila Healthcare Ltd., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Heska Corp., Merck & Co. Inc., Norbrook Laboratories Ltd., Virbac SA, B. Braun Melsungen AG, Medtronic, Zoetis Inc., Ceva Sante Animale, Eli Lilly and Company (Elanco/Novartis), Merck & Co. Inc. (Intervet), Sanofi S.A. (MERIAL Limited), Vetoquinol SA, C.H. Boehringer, Sohn AG & Co. KG, IDEXX Laboratories, and other prominent players.|
- Feed Additives
- Nutritional Feed Additives
- Medicinal Feed Additives
By Animal Type
- Livestock animals
- Companion animals
By Distribution Channel
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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