The global animal health market is expected to reach USD 79.29 Billion in 2028 and register a steady revenue CAGR of 5.9% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing adoption of companion animals such as cats and dogs among elderly population, and rising demand for animal-based food products across various countries across the world.
Animals have been a crucial part in man’s life since ancient times as they appear in ancient cave paintings, on modern commercial farmlands, and as pets in homes. There has been a rapid increase in the livestock population owing to high consumption of animal-based food due to rapidly increasing population, and technological advancements in livestock farming. Adoption of companion animals such as cats and dogs among elderly people and children has also increased in recent years. However, like human beings, these animals are prone to various diseases and infections. Animal healthcare involves taking care of animals and maintaining good health and records of drugs, medications, and vaccines by consulting veterinarians. Various companies are focusing on developing enhanced drug formulations to cater to increasing prevalence of diseases and infections in animals. In addition, several public and private sectors are focusing on improving animal healthcare services, providing better treatment facilities, and providing financial help to research laboratories working on zoonotic diseases.
However, high cost of animal health products, costly treatment, increasing chances of resistance to parasiticides and antibiotics due to prolonged use and lack of skilled healthcare experts, and funding for research in various underdeveloped countries are factors that could hamper market growth.
Companies profiled in the global market report include Olympus Corporation., Intuitive Surgical, Brainlab AG, Asensus Surgical US, Inc., CMR Surgical Ltd., Avateramedical GmbH, Medtronic, B. Braun SE, Boston Scientific Corporation, and AKTORmed GmbH.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2022-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Animal Health Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Animal Health Market.
Further key findings from the report suggest,
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For the purpose of this study, Reports and Data has segmented the global animal health market based on animal type, product outlook, dosage, distribution channel, end use, and region:
Animal Type Outlook (Revenue, USD Billion, 2018-2028)
Product Outlook (Revenue, USD Billion, 2018-2028)
Dosage Outlook (Revenue, USD Billion, 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion, 2018-2028)
End-use Outlook (Revenue, USD Billion, 2018-2028)
Regional Outlook (Revenue, USD Billion, 2018-2028)
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Key Advantages of Animal Health Market Report:
Conclusively, all aspects of the Animal Health Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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