Major gamers in the animal health market are Elanco Animal Health Incorporated, Merck Animal Health, Zoetis Inc., Boehringer Ingelheim International GmbH, Ceva Sante Animale, Heska Corporation, Vetoquinol SA, Virbac, Bayer AG, Novartis , Biogenesis Bago, Intervet International BV, IDEXX Laboratories Inc.
New York, June 09, 2023 (WORLD NEWSWIRE) — Reportlinker.com reveals the release of the report “Animal Health Global Market Report 2023” –
, Hester Biosciences Ltd., and Intas Pharmaceuticals Ltd.
The international animal health market is anticipated to grow from $46.95 billion in 2022 to $50.99 billion in 2023 at a compound yearly development rate (CAGR) of 8.6%. The Russia-Ukraine war interfered with the opportunities of international financial healing from the COVID-19 pandemic, a minimum of in the short-term. The war in between these 2 nations has actually resulted in financial sanctions on several nations, a rise in product costs, and supply chain interruptions, triggering inflation throughout products and services and impacting numerous markets around the world. The animal health market is anticipated to reach $70.17 billion in 2027 at a CAGR of 8.31%.
The animal health market includes sales of biologics and flea and tick medications.Values in this market are ‘factory gate’ worths, that is the worth of products offered by the producers or developers of the products, whether to other entities (consisting of downstream producers, wholesalers, suppliers, and sellers) or straight to end consumers.
The worth of products in this market consists of associated services offered by the developers of the products.
Animal health is specified as a term that covers animal illness and the relationship in between animal well-being, environment security, human health, and food safety. Animal health are utilized for sustaining the healthy advancement of animals.
North America was the biggest area in the animal health market in 2022. The areas covered in animal health report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The primary items in animal health market are vaccines, pharmaceuticals, medical feed ingredients, diagnostics, equipment and disposables and others.Commercial animals or animals can be specified as living animals that are grown or raised for business functions.
Animal health is utilized for enhancing the efficiency of business animals, drawing out earnings, and keeping all animals illness totally free.These are utilized by business and buddy animal types through oral, parenteral and topical path of administration.
These are utilized by different end users such as veterinary medical facilities and centers, animal care and rehab centers and diagnostic centers.
The increasing prevalence of zoonotic diseases will support the growth of the animal health market going forward.Zoonotic diseases can be defined as infectious diseases that can be transmitted between different animal species to humans or from humans to animals.
Monitoring and safeguarding animal health using different methods helps in controlling zoonosis and can help in protecting public health.For instance, according to World Health Organization, a Switzerland-based specialized agency of the United Nations, in Africa, there was an increase of 63% in the number of zoonotic outbreaks from 2012-2022 as compared to last decade.
Zoonotic diseases cause 2.5 billion cases of human illness and 2.7 million human deaths every year globally. Therefore, the increasing prevalence of zoonotic diseases will propel the animal health market.
Technological advancements are the key trends gaining popularity in the animal health market.Major market players are concentrating their efforts on introducing new and advanced technologies to strengthen their position in the market.
For instance, in April 2022, Elanco Animal Health Incorporated, a US-based animal health company, and Ginkgo Bioworks, a US-based biotechnology company, launched October 2022, Merck Animal Health, a US-based company that develops, manufactures, and markets a broad range of veterinary medicines and services launched Animo GPS, an activity and behaviour monitor for dogs with GPS tracking capabilities. The product enables real-time tracking with position updates starting every five seconds when in “Lost Dog Mode” and may notify pet owners within 20 seconds if their dog exits its assigned “Safe Zone.” Smart technology is utilized by Animo GPS to track a dog’s individual activity levels and behaviour within an intuitive mobile app. Data on barking, scratching, shaking, and sleep duration are all recorded by the device. If there are any major changes in these behaviours, it can utilize an adaptive algorithm to analyze this information and issue an alert via the app
In July 2022, Dechra Pharmaceuticals plc, a UK-based business involved in the development and marketing of veterinary products acquired Piedmont Animal Health for $210 million.With this acquisition, Dechra Pharmaceuticals plc will entirely be focused on growing the human health business.
Piedmont Animal Health is a US-based specialty pharmaceutical company focused on human and animal health therapeutics.
The countries covered in the animal health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is specified as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The animal health market research report is one of a series of new reports that provides animal health market statistics, including animal health industry global market size, regional shares, competitors with a animal health market share, detailed animal health market segments, market patterns, and opportunities, and any further data you might need to thrive in the animal health industry. This animal health marketing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the market.
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