Animals

Animal Health Market Size Worth $119,570.99 Million, Globally, by 2027 at 6.3% CAGR

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New YorkAnd December 14, 2021 /PRNewswire/ – According to a new market research report “animal health market Forecasts to 2027 – Impact of COVID-19 and Global Analysis by Product (Prescription, Nonprescription); animal type (animal production, animal companion); and Geography”, published by Insight Partners, the global animal health market has been appreciated 73,798.33 million US dollars in 2019 and is expected to grow at a compound annual growth rate of 6.3% from 2020 to 2027 119,570.99 million US dollars By 2027. Get the latest COVID-19 analysis on the animal health market in https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00003540

Report coverage

details

Market size value in

73,798.33 million USD in 2019

Market size value by

$119,570.99 million by 2027

growth rate

Compound annual growth rate of 6.3% from 2020-2027

prediction period

2020-2027

base year

2020

number of pages

195

Table number

95

Number of charts and shapes

69

Available historical data

Yes

covered slices

a product ; Animal type and geography

Regional scope

North America; Europe; Asia Pacific; Latin america; Middle East Airlines

country domain

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Animal Health Market: Competition Landscape and Key Developments

Merck & Co. , Inc. , Boehringer Ingelheim International GmbH, Ceva Santé Animale, Cargill, Incorporated, Zoetis Inc. , Bayer AG, Vetoquinol SA, Nutreco NV, Virbac, Elanco are among the major companies operating in the animal health market. These players focus on expanding and diversifying their presence in the market and acquiring a new customer base, thus taking advantage of the prevailing business opportunities.

  • In February 2020, Zoetis Inc. for its acquisition of Diagnostic Science, a reference veterinary laboratory company. The acquisition enabled the company to enhance its service portfolio.
  • in a January 2020Nutreco NV has announced its investment in Dutch company Kingfish Zeeland. The company aims to bring supplies of Yellow Kingfish to the US and European markets. Distribution will be through a special aquatic recycling system.
  • in a February 2020, Vetoquinol SA announces the acquisition of the Profender and Drontal product families from Elanco Animal Health. It will also acquire intellectual property rights, registrations and other rights currently owned by Bayer AG’s animal health business.

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the North America The region is the largest market for animal health market. Factors that enabled North America The region that will be the largest market includes a wide range of effective measures adopted by government animal welfare organizations along with technological developments, increased incidence of zoonotic diseases, and an increasing number of pet owners in countries. Besides, the increase in the number of pet owners and the growing concern for keeping pets healthy will help in the growth of the market. For example, according to the Animal Health Institute (AHI), more than 67% of American households own pets, which is approximately 400 million pets, including dogs, cats, horses, birds, fish, horses, and more. In addition, Americans spent more 75.5 billion dollars on their pets in 2016; Average total household expenditure $892 Get pet food, veterinary services, supplies and other services.

The presence of strong players, with continuous development in the region, increases the growth of the market. For example, in August 2019, US-based Elanco Animal Health Incorporated, has agreed with Bayer AG to acquire its animal health business in a deal valued at $ 7.6 billion USD. Furthermore, Merck has acquired the privately owned Antelliq Group, a leader in digital animal identification, traceability and monitoring solutions, the fastest growing segment of the animal health industry.

With the increasing number of owners, there is an increasing demand for regular veterinary services, which greatly drives the demand of animal health market in United State.

in 2019, Asia Pacific Registered as the fastest growing region in the global animal health market. Market growth is expected to be faster in countries like ChinaAnd India, And Australia. Factors expected to drive market growth include the rapid rise in livestock numbers, increased awareness of animal health, the increasing demand for animal-derived food products, and the increasing frequency of animal disease outbreaks.

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Increase in animal diseases Diseases in the animal health market:

Animals can act as carriers of harmful germs, such as bacteria, viruses, parasites and fungi to humans, leading to disease in them; These infections are known as zoonoses or zoonoses. An increase in these diseases is driving the animal health market. The clinical impact of zoonoses may range from mild to severe, and may sometimes result in death. Zoonoses are spreading all over the world. According to estimates by the Center for Disease Control (CDC), more than 6 out of every 10 infectious diseases known to humans can be spread by animals, and 3 in 4 new or upcoming infectious diseases in humans come from animals. Moreover, in 2016, at least 55,000 people died of rabies in Asia And Africa.

In the past decades, many previously unknown infectious human diseases, such as Ebola virus, human immunodeficiency virus (HIV), Nipah virus, West Nile virus and Hantavirus infection, have emerged from animal reservoirs. Disease outbreaks such as Severe Acute Respiratory Syndrome (SARS) and bird flu have reminded us of the potential for microorganisms in animal reservoirs to adapt to the human host. More than three-quarters of new, emerging or re-emerging human diseases at the beginning of the twenty-first century are caused by pathogens that originate from animals or products of animal origin. According to the World Health Organization, about 60% of emerging infectious diseases reported globally are zoonotic, and each year, about one billion cases of illness and millions of deaths occur due to zoonotic diseases. More than 30 new human pathogens have been discovered in the past three decades, 75% of which originated from animals. Hence, emerging and re-emerging zoonoses have become an even more important factor in increasing demand for animal health, prompting companies to produce advanced medicines and vaccines to help animal owners or other stakeholders in maintaining the overall health of animals.

Animal Health Market: Segmental Overview

Based on the product, the animal health market is segmented into prescription and non-prescription. The prescriptions section is divided into sub-segments such as Vaccines, Pharmaceuticals, Feed Additives, and Diagnostics. The prescription segment captured more than 6184% of the market share in 2019. In terms of animal type, the animal health market is divided into animal and companion animal production. The animal production segment captured the largest share of the market in 2019.

The outbreak of the COVID-19 virus has disturbed many commerce and businesses around the world. In many cases, zoonotic diseases have been found in humans due to interaction with animals. Therefore, government agencies are taking more precautions and safety measures to prevent the spread of the Corona virus among animals. These procedures are widely performed for pets because they frequently interact with their owners. It is also necessary to report cases to the veterinary authorities. For example, in the region, cases of Covi-19 detection are reported to the OIE through WAHIS, pursuant to the OIE Terrestrial Animal Health Act as an emerging disease.

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The OIE is actively working by providing research assistance for its ongoing research and other effects of COVID-19 on animal health and veterinary public health. The assistance also provides risk assessment, risk management and risk communication. The OIE has also developed an Incident Coordination System to coordinate these activities. In addition, the OIE is also working with the Wildlife Working Group and other partners to develop a long-term program of work. The goals are to provide a better understanding, dynamics, and risks around the wildlife trade and consumption. It also aims to develop strategies to reduce the risks of indirect events in the future.

about us:

Insight Partners is a single provider of industry research for action intelligence. We assist our clients in obtaining solutions to their research requirements through joint research and advisory services. We specialize in industries such as semiconductors, electronics, aerospace, defense, automotive, transportation, biotechnology, healthcare information technology, manufacturing and construction, medical devices, technology, media and communications, chemicals and materials.

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If you have any questions about this report or if you would like more information, please contact us:

Contact Person: Sameer Joshi
email: [email protected]
Phone: + . 646-491-9876
Press release: https://www.theinsightpartners.com/pr/animal-health-market
More research: https://www.openpr.com/news/archive/139407/The-Insight-Partners.html

Source Insight Partners

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