Monday, 24 July 2017

Animal Healthcare Market to grow at 4% CAGR from 2016 to 2024

The medical industry report “Animal Healthcare Market Size By Pharmaceuticals (Ectoparasiticides, Endoparasiticides, Anti-inflammatories, Anti-infectives), By Vaccines (Poultry, Cattle, Swine, Equine, Dogs, Cats, Horses), By Medicated Feed Additives( Antibiotics, Vitamins, Amino acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals), By Animal Type ( Farm Animal And Companion Animal), Regional Outlook (U.S., Canada, Germany, UK, Spain, Italy, France, Poland, Netherlands, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Technology Development, Competitive Landscape & Forecast, 2017 – 2024”, by Global Market Insights, Inc. says Animal Healthcare Market size to exceed USD 36 billion by 2024.

Increasing prevalence of animal diseases coupled with growing adoption of pet animals should drive the global animal healthcare market size. Rising disposable income of pet owners especially in developed regions will enable them to spend on pet healthcare leading to exponential animal healthcare market growth.

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Increasing demand for animal source protein and animal healthcare products will escalate over the forecast years. With global population expanding at an alarming rate, the demand for animal source protein and animal healthcare products will only increase, resulting to more animal farming over the forecast timeframe.

Favorable government initiatives to promote animal healthcare practices and rapid developments in the field of animal health medicine will serve as a high impact rendering factor over the forecast years.

Stringent regulations in many countries pertaining to use of antibiotics and antimicrobials in animal feed, high cost associated with animal testing and low out-of-pocket pet healthcare expenditure in developing countries will restrain the market growth over the coming years.

Browse key industry insights spread across 180 pages with 151 market data tables & 10 figures & charts from this 2017 report Animal Healthcare Market in detail along with the table of contents at:

Animal parasiticides should witness high growth over the coming years owing to rising awareness about parasites and their ill-effects on animal and human health. Increasing use of parasiticides in growing number of farm and companion animals should drive the business growth.

Medicated feed additives should witness robust growth over the forecast years. Amino acids will hold the largest revenue share and is expected to remain the most popular medical feed additive owing to its ability to increase meat production.

U.S. animal healthcare market held largest regional market share in 2016, owing to rising number of pet animals, high disposable incomes of pet owners, escalated awareness about animal health, availability of advanced medicines and presence of large number of established companies. Advancements in animal pharmaceuticals, biologicals and personalized pet medicines should continue to fuel the industry growth.

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France animal healthcare market held largest regional share in 2016. Increasing demand for anti-infectives and endoparacitisides for prevention of zoonotic diseases should stimulate business growth. Growing use of animal derived pharmaceutical proteins will spur industry growth.

Some of the leading industry players include Zoetis, Merck, Elanco, Bayer, Boehringer Ingelheim, Virbac, Phirbo Animal Health, Ceva Sante Animale, and Vetoquinol. Merger and acquisition, new product development and geographical expansion are some of the strategies adopted by industry participants to gain market share.

Browse Related Reports:

Companion Animal Vaccines Market, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share and Forecast, 2016-2024

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