Veterinary Diagnostics Is Fastest Growing Segment Fueling The Growth Of Animal Healthcare Market

https://www.coherentmarketinsights.com/market-insight/animal-healthcare-market-3708
Animal Healthcare Market



Market Overview:

The animal healthcare market includes products such as veterinary pharmaceuticals, feed additives, and vaccines that are used to treat and prevent diseases in livestock animals and companion animals. These products help ensure livestock health and productivity as well as the well-being of pets.

Market key trends:
One of the key trends driving growth in the animal healthcare market is rising pet ownership globally which is leading to increased demand for pet care services and products. According to the 2021-2022 APPA National Pet Owners Survey conducted in the U.S., 70.6 million American households own a dog and 42.7 million own cats. As pet owners increasingly treat their pets like family members, they are more willing to spend on premium pet food, veterinary care including advanced diagnostic procedures, and grooming and other services. This growing pet culture and expenditure on pet care worldwide is fueling demand for animal healthcare products and services.

The global Animal Healthcare Market Growth is estimated to be valued at US$ 50.45 Bn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The global animal healthcare market is segmented by product type, animal type, end-user, and geography. On the basis of product type, the market is segmented into pharmaceuticals, vaccines, feed additives, and others. The pharmaceuticals segment dominates the market as pharmaceutical products like anti-infectives, parasiticides, and anti-inflammatories are widely used for treating various diseases in animals. They help in treating diseases and infections in animals effectively.

Key Takeaways
The global animal healthcare market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing prevalence of zoonotic and animal diseases. The global animal healthcare market size for 2023 is US$ 50.45 Bn.

Regional analysis - North America dominates the global market due to rising animal healthcare expenditure and increasing pet healthcare insurance policies in the region. Asia Pacific registers the fastest growth during the forecast period due to growing awareness regarding animal welfare and rising animal population in countries like India and China.

Key players analysis - Key players operating in the animal healthcare market are Bayer AG, Boehringer Ingelheim GmbH, Cargill Inc., Ceva Santé Animale, Eli Lilly and Company, DSM, Merck & Co., Inc., Novartis AG, Nutreco N.V., Sanofi S.A., SeQuent Scientific Ltd., Virbac S.A., Vétoquinol S.A., Zoetis Inc. These companies capture a significant share of the market through innovation and expansion of their product portfolios.

Read More: https://www.dailyprbulletin.com/vaccines-projected-to-boost-the-growth-of-animal-healthcare-market-share-size-analysis/

Comments

Post a Comment

Popular posts from this blog

Global Fiber Reinforced Concrete Market Opportunity Analysis and Industry Forecast 2028

Image
  Fiber Reinforced Concrete Market A rise in commercial construction activity is anticipated to fuel the market as a result of the economy's improved state. The need for more office and storage space has been driven by the expansion of industries like food and consumer goods, which has had a large positive impact on the construction sector and the demand for paving slabs as long-lasting and attractive flooring. With the majority of the actors involved in the production and manufacture of the raw materials used in the production of paving slabs, product makers have a highly integrated supply chain. The majority of market participants also benefit from a robust direct distribution network that facilitates a seamless flow of products and enables them to build a broader customer base. Having a wide range of customizable products is important while making purchases. The global Fiber Reinforced Concrete Market was valued at US$ 2,330.40 Mn in 2020 and is forecast to reach a value of US$
Read more

Augmented Reality Is Fastest Growing Segment Fueling The Growth Of Air Defense Systems Market

Image
Air Defense Systems Market Market Overview: Air defense systems provides protection against cruise, tactical and strategic ballistic missiles, unmanned aerial vehicles, and aircraft. They consist of radar systems, interceptor missiles, command and control systems and fire control systems. Air defense systems help detect incoming enemy planes, and intercept missiles and other threats before they reach their targets using air-to-air, surface-to-air, and man-portable missiles. Market key trends: One of the major trends in the air defense systems market is the increasing adoption of augmented reality and artificial intelligence. Augmented reality offers 3D digital interfaces to air defense operators and commanders and overlays geographical data and combat intelligence information onto real-world combat scenarios. This enhances situation awareness, minimizes fatigue and improves decision-making. It is increasingly being incorporated into command and control systems, fire control radars and
Read more

The U.S. Sterile Injectables Market Witnessing Tremendous Growth Due to Rising Prevalence of Chronic Disease

Image
U.S. Sterile Injectables Market    Sterile Injectables are compounded medications with sterile components for intravenous administration. They are composed of small molecules, large molecules, and biologics. In 2018, the global sterile injectable market was valued at US$ 357 billion. During the forecast period, the market is expected to grow at a 7.3% CAGR. The market will likely be driven by the growing demand for these medications in developing countries. The U.S. sterile injectables market is expected to expand over the forecast period due to rising product launches are one of the key factors boosting the growth of this market. Many sterile products fail to meet regulatory requirements. Due to the risk involved, a sterile drug product must meet strict standards. Lack of quality assurance in the manufacturing process can result in low-quality medicines. To combat this risk, manufacturers highly trust CMOs to adhere to rigorous quality standards. Manufacturers of sterile injectables a
Read more