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(Medical-NewsWire.com, October 31, 2022 ) According to Precision Business Insights (PBI) latest report, the global animal healthcare market size was valued at USD 48.62 billion in 2021, growing at a CAGR of 8.4% over the forecast period 2022-28. In order to properly care for animals and treat their underlying medical disorders, it is necessary to employ medicated animal diets, medications, immunizations, and diagnostic tools. Animals have a significant role in human life. Because they are susceptible to sickness, animals, like people, must get the full attention of veterinary professionals and pet owners. The main goal of the animal health sector is to improve the health and well-being of farm and companion animals and to treat them.
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Animal Healthcare Market Growth Factors
The industry will experience growth primarily due to the increasing number of e-commerce platforms supporting online pharmacies. Other factors supporting the expansion of the market include the rise in the occurrence of zoonotic illnesses in animals and the increased emphasis on the adoption of methods that promote animal health. Along with rising personal disposable income, rising R&D spending in relation to the introduction of new products will further generate attractive and rewarding growth prospects for the market. The market will expand as a result of rising demand for protein-rich diets for animals, accelerating globalization, and an increase in the number of livestock.
Animal Healthcare Market Segmentation
The Animal Healthcare Market on the basis of Product, the market is segregated into Vaccines, Anti-infectives, Antibiotics, Parasiticides, Feed Additives, and Others. On the basis of Animal, the market is divided into Pets, Poultry, Ruminants, Swine, Others.
Animal Healthcare Market Trends
• The market will grow as a result of spending money on research and development (R&D) operations to create better product offerings and as a result of key players adopting cutting-edge technology to alter the animal healthcare industry.
• Governments all across the world are concentrating on enacting stronger legislation and regulating standards for animal healthcare. The market value will be supported by programs for the adoption and protection of animals, emergency medical services, better treatment centers, vaccination drives, and birth control and immunization programs for animal healthcare.
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Animal Healthcare Market Regional Analysis
Due to the extensive range of concrete actions adopted by governmental animal welfare groups that continually work for an improvement in overall animal health, North America led the market for animal health and accounted for the greatest revenue share of 27.5% in 2021. Additionally, the market is anticipated to rise in this nation because of technological developments, an increase in zoonotic diseases, and an increase in pet owners. It is projected that a number of cooperative initiatives by significant corporations to improve their R&D capabilities and guarantee high-quality standards will further fuel demand in this region.
The major players operating in the Animal Healthcare Market are Merck Animal Health, Ceva Sante AnimalS, Vetoquinol S.A., Zoetis, Boehringer Ingelheim GmbH, Elanco, IDEXX, Heska Corporation, Covetrus, DRE Veterinary
Related Reports:
Companion Animal Healthcare Market by Product Type (Drugs (Antimicrobials, Ectoparasiticides, Endoparacitides, Endectoparaciticides, Others), Vaccines, Feed Additive (Nutritional Feed Additives, Medicinal Feed Additives), by companion animal type (Feline, Canine, Equine), by dosage form (Orals, Parenterals, Topicals, Others), distribution channel (Veterinary Pharmacies, Veterinary Hospitals, Veterinary Clinics, E-Commerce) and Geography
https://precisionbusinessinsights.com/market-reports/companion-animal-healthcare-market/
Farm Animal Healthcare Market by Product Type (Medicated feed additives, Vaccines, Pharmaceuticals, Others), Administration (Oral, Parenteral, Topical, Others), Animal Type (Cattle, Poultry, Aquaculture, Swine, Sheep, Others), Distribution Channel (Veterinary Clinics, Veterinary pharmacies, Online pharmacies, Others), Geography
https://precisionbusinessinsights.com/market-reports/global-farm-animal-healthcare-market/
Companion Animal Vaccines Market By Product Type (Canine Vaccines, Feline Vaccines, Avian Vaccines, and Equine Vaccines), By Disease Type (Canine Distemper, Canine Parvovirus, Feline Rabies and Others), By Vaccine Type (Live Attenuated Vaccines, Inactivated Vaccines, Recombinant Vaccines, Toxoid Vaccines, Conjugate Vaccines, DNA Vaccines, and Subunit Vaccines), Distribution Channel (Veterinary Pharmacies, Veterinary Hospitals, Veterinary Clinics, and E-Commerce) and Geography
https://precisionbusinessinsights.com/market-reports/global-companion-animal-vaccines-market/
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