Global Animal Health Market
Dublin, June 05, 2023 (WORLD NEWSWIRE) — The “Global Animal Health Market: Insights & Forecast (2023-2027)” report has actually been contributed to ResearchAndMarkets.com’s offering.
The worldwide animal health market is anticipated to tape a worth of US$60.87 billion in 2027, growing at a CAGR of 6.30% for the duration covering 2023-2027. The aspects such as growing middle class population, increasing cattle/cow population, rise in need for animal protein, increasing U.S. expense on family pets and growing urbanization would drive the development of the marketplace. However, the marketplace development is anticipated to be prevented by increasing competitive landscape and increasing cost of item advancement, together with the strict regulative approval of veterinary drugs. A couple of noteworthy patterns might consist of rise in meat usage, increasing buddy animal ownership, increasing occurrences of zoonotic illness and technological developments.
Based on item type, the worldwide animal health market can be segmented into feed ingredients, pharmaceuticals and vaccines. Feed ingredients section has actually been controling the worldwide market over the previous couple of years, followed by pharmaceuticals and vaccines. The feed ingredients market is anticipated to control the marketplace in future due to the increased production of meat and dairy items.
The fastest local market was North America due to the existence of well developed health care facilities and significant pharmaceutical gamers that continue to establish brand-new veterinary items in the market.
Scope of the report
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The report offers a thorough analysis of the worldwide animal health market together with the concentrate on feed ingredients, pharmaceuticals and vaccines market.
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The significant local markets (North America, Europe, Asia Pacific and ROW), together with the nation protection of the U.S., France, the U.K., Italy, Germany, India and Brazil have actually been examined in information.
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The market characteristics such as development drivers, market patterns and obstacles are examined thorough.
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The competitive landscape of the marketplace, together with the business profiles of leading gamers (Merck & Co., Inc., Bayer, Eli Lilly, Boehringer Ingelheim, Zoetis Inc. and Elanco) are likewise provided in information.
Market Dynamics
Growth Drivers
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Growing Middle Class Population
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Rising Cattle/Cow Population
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Surge in Demand for Animal Protein
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Rising U.S. Expenditure on Pets
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Growing Urbanization
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Favorable Demographics Supporting Pet Market
Key Trends
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Upsurge in Meat Consumption
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Growth in Pet Insurance
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Increasing Companion Animal Ownership
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Growing Incidences of Animal-to-Human Disease
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Technological Advancements
Challenges
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Highly Competitive Landscape for New Entrants
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Rising Cost of Product Development
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Stringent Regulatory Approval Process for Drugs
Key Attributes:
|
Report Attribute |
Details |
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No. of Pages |
118 |
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Forecast Period |
2023 – 2027 |
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Estimated Market Value (USD) in 2023 |
$47.67 Billion |
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Forecasted Market Value (USD) by 2027 |
$60.87 Billion |
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Compound Annual Growth Rate |
6.3% |
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Regions Covered |
Global |
Key Topics Covered:
1. Market Overview
1.1 Animal Health
1.2 Animal Health Products
1.3 Value Chain Analysis
2. Impact of COVID-19
2.1 Decline in Meat Production
2.2 Fall in Pet Adoption Rate
2.3 Impact on Consumers’ Eating Habits
3. Global Animal Health Market
3.1 Global Animal Health Market by Value
3.2 Global Animal Health Market Forecast by Value
3.3 Global Animal Health Market by Product
3.4 Global Animal Health Market by Animal Type
3.5 Global Animal Health Market by Region
4. Regional Markets
4.1 North America
4.2 Europe
4.3 Asia-Pacific
4.4 ROW
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Middle Class Population
5.1.2 Rising Cattle/Cow Population
5.1.3 Surge in Demand for Animal Protein
5.1.4 Rising U.S. Expenditure on Pets
5.1.5 Growing Urbanization
5.1.6 Favorable Demographics Supporting Pet Market
5.2 Key Trends
5.2.1 Upsurge in Meat Consumption
5.2.2 Growth in Pet Insurance
5.2.3 Increasing Companion Animal Ownership
5.2.4 Growing Incidences of Animal-to-Human Disease
5.2.5 Technological Advancements
5.3 Challenges
5.3.1 Highly Competitive Landscape for New Entrants
5.3.2 Rising Cost of Product Development
5.3.3 Stringent Regulatory Approval Process for Drugs
6. Competitive Landscape
6.1 Global Market
6.1.1 Global Animal Health Market Share by Company
7. Company Profiles
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Merck & Co., Inc.
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Bayer
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Eli Lilly
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Boehringer Ingelheim
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Zoetis Inc.
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Elanco
For more details about this report go to https://www.researchandmarkets.com/r/b60lbo
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