The global animal health market size is expected to reach
USD 64.6 billion by 2025, according to a new report by Grand View Research,
Inc., rising at a CAGR of 5.5% during the forecast period. Rapid technological
advancements in veterinary care are likely to provide an upthrust to the
market. For instance, MediLabSecure, a laboratory network project, was
initiated with an aim of identifying emerging viruses and pathogens in 19
countries in the Mediterranean regions. In addition, emergence of veterinary
health information systems, specifically in developed economies, is poised to
help the market gain significant momentum over the coming years.
With the help of these systems, data
generated in veterinary clinics can be uploaded on the internet, which can be
further shared with other researchers and clinicians. Incorporation of this
technology will facilitate real-time analysis of fluctuations in disease
prevalence. As a consequence of aforementioned factors, it is projected that
there will be remarkable improvement in the overall penetration rate of animal
health products, which is also anticipated to spur the growth of the market.
Full Research Report On Animal Health Market Analysis:
https://www.grandviewresearch.com/industry-analysis/animal-health-market
https://www.grandviewresearch.com/industry-analysis/animal-health-market
Further key findings from the report suggest:
·
Vaccines are expected to
exhibit a noteworthy CAGR during the forecast period due to significant
increase in adoption of companion animals that demand long-term health
check-ups
·
The companion animal segment is
estimated to expand at a higher CAGR during the same period owing to associated
health benefits for humans such as lower blood pressure, greater psychological
stability, and reduced anxiety attacks
·
Veterinary hospitals and
clinics accounted for a substantial share in 2017, owing to increasing number
of hospital pharmacies coupled with high procedural volume as a consequence of
frequent readmission of pets for treatment
·
Retail channels and E-commerce
platform commanded a sizeable cumulative share owing to factors such as high
convenience associated with online pharmacies and increasing number of retail
pharmacies
·
Point-of-care testing is the
fastest growing end-use segment due to surging demand for highly productive
animals and growing investments in R&D activities for novel animal products
·
In 2017, North America
represented the largest share in the global animal health market owing to local
presence of established pharmaceutical companies, consistently striving for
extensive commercialization of their products
·
Asia Pacific is expected to
progress at a phenomenal CAGR due to dire clinical urgency to curb high
incidence of zoonotic diseases and growing focus on management of disease
outbreaks such as swine influenza and Ebola
·
The key participants employ
sustainability strategies, such as expanding product portfolio to gain
competitive advantage. For instance, In March 2016, Merial entered into
distribution agreement with Zoetis, Inc. to expand dairy product portfolio in
India
View More Reports Of This Category By Grand View Research
At: https://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the
global animal health market on the basis of animal type, product, distribution
channel, end use, and region:
Animal Health Animal Type Outlook (Revenue, USD Million,
2014 - 2025)
·
Production Animal
o Poultry
o Swine
o Cattle
o Sheep & Goats
o Fish
·
Companion Animal
o Dogs
o Cats
o Horses
o Others
Animal Health Product Outlook (Revenue, USD Million, 2014
- 2025)
·
Vaccines
o Live Attenuated Vaccines
o DNA Vaccines
o Recombinant Vaccines
o Inactivated Vaccines
o Others
·
Pharmaceuticals
o Parasiticides
o Anti-infectives
o Anti-inflammatory
o Analgesics
o Others
·
Feed Additives
o Nutritional
o Medicinal
·
Diagnostics
o Instruments
o Consumables
Animal Health Distribution Channel Outlook (Revenue, USD
Million, 2014 - 2025)
·
Retail
·
E-commerce
·
Veterinary Hospitals &
Clinics
Animal Health End-use Outlook (Revenue, USD Million, 2014
- 2025)
·
Reference Laboratories
·
Point-of-care Testing/In-house
Testing
·
Veterinary Hospitals &
Clinics
·
Others
Animal Health Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o U.K.
o Germany
o France
o Italy
o Russia
o Spain
o Netherlands
o Switzerland
o Sweden
o Ireland
o Poland
·
Asia Pacific
o Japan
o China
o India
o Indonesia
o Thailand
o Australia
o South Korea
o Philippines
o Malaysia
o Singapore
·
Latin America
o Mexico
o Brazil
o Argentina
·
Middle East & Africa
o South Africa
o Saudi Arabia
o Turkey
o Iran
o United Arab Emirates
o Israel
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-animal-health-market
https://www.grandviewresearch.com/press-release/global-animal-health-market
About Grand View
Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
