New York, NY, April 22, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Animal Health Market By Animal Type (Companion and Production), By Product (Diagnostics, Feed Additives, Pharmaceuticals, Vaccines, and Others), By Distribution Channel (E-commerce, Retail, and Hospital Pharmacy), By End-Use (Reference Laboratories, Veterinary Hospitals & Clinics, Point-Of-Care Testing/In-House Testing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“According to the research report, the global Animal Health Market was estimated at USD 48.56 Billion in 2019 and is expected to reach USD 87.07 Billion by 2026. The global Animal Health Market is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2019 to 2026”.
Animal Health Market: Key Market Insights Overview
A huge increase in global consumption of protein food, as well as an increase in the incidence of zoonotic and food-borne diseases, is driving the market. Companies have been spurred to develop new vaccines and pharmaceuticals as a result of the exponential increase in disease prevalence. As a result of the high demand, there has been a rise in the number of companies making consistent efforts to manage pathogen contamination threats and food-borne diseases, which is helping to drive market growth. Furthermore, the overall demand is expected to be influenced by the increasing number of government measures to support animal health products. Increased production of animal-based food items would result in dramatic price reductions, allowing for quick access to nutritious food. Technological advances in veterinary health care are also driving the industry, and this is expected to provide potential growth opportunities.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 195+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Animal Health Market?
2) What is the market size, share of the Animal Health Market?
3) Who are the top market players in Animal Health Market?
4) What will be the future market of the Animal Health Market?
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Animal Health Market: Industry Major Market Players
- Merck Animal Health
- Boehringer Ingelheim GmbH
- Ceva Santé Animale
- Kyoritsu Seiyako
- Vetiquinol S.A.
- Nutreco N.V.
- Zoetis
- Virbac
- Bayer AG
- Heska Corp.
- Elanco
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Air quality affects animal health and disease. The beneficial effect of eliminating toxins from the air, in turn, is linked to air quality. Moreover, because of rapid technological advances and increased research and development in the veterinary pharmaceutical industry, the animal health industry is thriving. Data generated in veterinary clinics can then be released on the internet and communicated with other practitioners and researchers combined with advanced technological systems. This innovation also assists in the study of variations in disease incidence in real-time.
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Demand for Animal-Derived Foods Is Growing
South Asia, according to the FAO, is one of the main dairy-producing regions, accounting for 20–25 percent of global milk output in 2019. India was the largest producer and user of milk in this country, followed by China and Pakistan. Meat consumption in India was estimated to be over 3.9 million metric tons in 2020, with a projected increase to 145.7 million metric tons by 2030.
In 2019, China had the highest share of total beef, pork, and livestock consumption of meat in the Asia Pacific region. By 2030, the global consumption of animal-derived packaged foods is expected to rise.
Companion animal ownership has increased steadily in recent years, particularly in emerging economies such as China and India. Pet ownership is on the rise in these countries, thanks to rapid urbanization and rising disposable incomes. In these countries, many pet owners are now prepared to spend more on companion animals, especially healthcare services.
The livestock markets in these countries are thriving. According to a Dairy Tech India post, India is on its way to become the world's second-largest poultry market, with annual growth of over 14%. India produces the most milk in the world. China leads the world for pork consumption, according to the US Meat Export Federation. Pork consumption grew from 28.3 kilograms per person in 2012 to 34.2 kilograms per person in 2019.
The Asia Pacific market is primarily driven by rising disposable income, increased understanding of animal welfare, increased demand for animal-derived food items, and increased adoption of companion animals.
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COVID-19 Impact on the Global Animal Health Market
Coronavirus has infected over 4.4 million people in 215 countries and territories, resulting in nearly 300,000 deaths. The outbreak of COVID-19 began in a meat market, and it has had a negative impact on the consumption of animal-based foods. In a realistic scenario, it's possible that COVID-19 will have a limited impact on the animal health market. The largest end-user category for animal welfare, veterinary hospitals and clinics, livestock farming, and homecare environments, are projected to be significantly impacted in this scenario. This may be due to a lack of trade and transportation controls, which are intended to expand steadily in 2020 as most countries' trade ties return to relatively close.
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North America Region Dominates the Global Animal Health Market
Because of the broad variety of definitive initiatives implemented by various government animal protection agencies that are actively striving towards actual improvement in animal health, North America gained the largest sales market share in the global market in 2020. Furthermore, technological advances, an increase in the number of pets, and the growing occurrence of zoonotic diseases are expected to drive market growth in this area. The regional market is expected to be driven by many joint initiatives by major firms to enhance the R&D capabilities and maintain high-quality standards. Furthermore, the bulk of the share can be traced to the region's high disease burden.
Employment, incomes, exports, and taxes are also directly supported by the animal health industry in the United States. Animal health products also help to sustain and enable other sectors, as well as improving the quality of life for millions of people in the United States. Animal health research leads to the production of vaccines and drugs for diseases like cancer, asthma, cardiovascular disease, and arthritis due to high levels of R&D investment.
Browse the full “Animal Health Market By Animal Type (Companion and Production), By Product (Diagnostics, Feed Additives, Pharmaceuticals, Vaccines, and Others), By Distribution Channel (E-commerce, Retail, and Hospital Pharmacy), By End-Use (Reference Laboratories, Veterinary Hospitals & Clinics, Point-Of-Care Testing/In-House Testing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/animal-health-market
The global animal health market is segmented as follows:
By Product:
Animal Type
- Companion
- Production
Product
- Diagnostics
- Feed Additives
- Pharmaceuticals
- Vaccines
- Others
Distribution Channel
- E-commerce
- Retail
- Hospital Pharmacy
End-Use
- Reference Laboratories
- Veterinary Hospitals & Clinics
- Point-Of-Care Testing/In-House Testing
- Others
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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