According to Qualiket Research, Global Animal Health Market was valued at USD 45.10 billion in 2019 which is expected to reach USD 69.87 billion by 2030 at a CAGR 6.5%.
Animal healthcare is the taking care of animals with appropriate use of drugs such as vaccines, and other drugs, animal feeds, and diagnostic products. Increase in awareness regarding animal health as well as rise in disposable income which is expected to contribute the growth of overall market for animal health.
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Market Drivers:
· Rise in incidences of zoonotic disease is the key driving factor which is expected to boost the global animal health market growth. Furthermore, increase in demand for animal products due adoption of pets will have the positive impact on market growth. Moreover, increase in awareness about preventive measures and availability of treatments will fuel the animal health market growth across the world. Also, increase in investments in research and development activities and development of new surgical techniques will propel the market growth over the forecast period.
Market Segmentations:
- Global Animal Health Market is segmented into animal type such as Production Animal (Swine, Poultry, Cattle, Fish, and Sheep & Goat), and Companion Animal (Horses, Cats, Dogs, and Others), by products such as Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, and Others. Further market is segmented into distribution channel such as E-commerce, Retail, and Veterinary Hospitals & Clinics.
Key players:
· Merck Animal Health, Ceva Sante Animale, Animal Health, Dechra Pharmaceuticals, Vetoquinol SA, Zydus, Intas Pharmaceuticals, Ltd., Bayer AG, Zoetis, Inc, and Boehringer Ingelheim GmbH
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