Pune, India, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, worldwide animal health market share was worth USD 47.21 billion in the year 2020 and is expected to grow substantially over 2021-2026. Rising pet ownership and escalating demand for animal healthcare products such as food, medicines are the prime factors driving the industry growth.
The research divides the market into different segments and evaluates each one separately to determine their contribution to overall growth and gauge their potential. Apart from this, PEST analysis and Porter's Five Forces analysis are included in the document to aid in the development of effective action plans. The document also encompasses vast information about leading organizations, such as product/service offerings, financials, and recent strategic undertakings, to help newcomers and other stakeholders make informed decisions.
The upward trend in the number of nuclear families worldwide has spurred pet ownership. This increasing human-animal bond is compelling owners to spend more on their pets.
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Rising concerns about several animal ailments have led to investments in immunization, disease diagnosis, and an emphasis on a balanced diet. Besides, veterinarian services aid in the prevention and treatment of diseases and ailments which lead to increased production of animal-based food items and substantial price reductions, providing for easy access to nutritious food.
Global animal health industry expansion is also driven by rising prevalence of animal diseases and booming animal population. Each year, new animal diseases emerge, providing opportunity for pharmaceutical businesses to introduce animal health solutions.
Moreover, Infectious illness outbreaks are on the rise, as are technology improvements and increased investments by major companies, all of which are propelling the overall market growth.
COVID-19 impact
The cattle sector, particularly the dairy and meat industries, and related matters, have been negatively impacted by the COVID-19 pandemic-induced lockdown and other restrictive measures. The pandemic caused disruptions in the meat trade and changes in eating patterns due to concerns about food safety and quality.
Market segmentation overview
Based on animal type, global animal health market is divided into companion animals and production animals. As per product type, the industry segmentation is comprised of feed additives, vaccines, and pharmaceuticals. With respect to end user scope, the market is classified into point-of-care testing, veterinary hospitals and clinics, and others.
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Competitive landscape summary
Regional expansion, mergers & acquisitions, and new product development are major strategies undertaken by companies. Covetrus Inc., Boehringer Ingelheim, Zoetis Inc, Merck & Co. Inc., Elanco Animal Health Incorporated, and Phibro Animal Health Corporation are among the major firms in the industry.
Global Animal Health Market, by Animal Type (Value, USD Billion, 2016-2026)
- Production Animals
- Companion Animals
Global Animal Health Market, by Product Type (Value, USD Billion, 2016-2026)
- Feed Additives
- Vaccines
- Pharmaceuticals
Global Animal Health Market, by End-User Scope (Value, USD Billion, 2016-2026)
- Point-of-Care Testing
- Veterinary Hospitals and Clinics
- Others
Global Animal Health Market Regional Bifurcation (Value, USD Billion, 2016-2026)
North America
- U.S.
- Canada
Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of The World
Global Animal Health Market Major Players (Value, USD Billion, 2016-2026)
- Phibro Animal Health Corporation
- Vetoquinol Global
- Ceva Sante Animale
- IDEXX Laboratories Inc.
- Virbac SA
- Elanco Animal Health Incorporated
- Covetrus Inc.
- Boehringer Ingelheim
- Merck & Co. Inc.
- Zoetis Inc.
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Animal Health Market: Product Overview
4. Global Animal Health Market: An Analysis
4.1 Market Size, By Value, Year 2016-2026
4.2 Impact of COVID-19 on Animal Health Market
4.3 Global Animal Health Market: Growth & Forecast
5. Global Animal Health Market: Segment Analysis By Animal Type
5.1 Global Animal Health Market Segmentation, By Animal Type (Value)
5.2 Competitive Scenario of Animal Health Market: By Animal Type (2020 & 2026)
5.3 By Production Animals- Market Size and Forecast (2016-2026)
5.4 By Companion Animals- Market Size and Forecast (2016-2026)
6. Global Animal Health Market: Segment Analysis By Product Type
6.1 Global Animal Health Market Segmentation, By Product Type (Value)
6.2 Competitive Scenario of Global Animal Health Market: By Product Type (2020 & 2026)
6.3 By Pharmaceuticals- Market Size and Forecast (2016-2026)
6.4 By Vaccines- Market Size and Forecast (2016-2026)
6.5 By Feed Additives- Market Size and Forecast (2016-2026)
7. Global Animal Health Market: Segment Analysis By End-User
7.1 Global Animal Health Market Segmentation, By End-User (Value)
7.2 Competitive Scenario of Global Animal Health Market: By End-User (2020 & 2026)
7.3 By Veterinary Hospitals and Clinics- Market Size and Forecast (2016-2026)
7.4 By Point-of-Care Testing- Market Size and Forecast (2016-2026)
7.5 By Others- Market Size and Forecast (2016-2026)
8. Global Animal Health Market: Regional Analysis
8.1 Competitive Scenario of Global Animal Health Market: By Region (2020 & 2026)
9. North America Animal Health Market: An Analysis (2016-2026)
9.1 North America Animal Health Market by value: Size and Forecast (2016-2026)
9.2 North America Animal Health Market: Prominent Companies
9.3 North America Animal Health Market: Segmental Analysis
9.4 Market Segmentation By Animal Type (Production Animals, Companion Animals)
9.5 Market Segmentation By Product Type (Pharmaceuticals, Vaccines, Feed Additives)
10. Europe Animal Health Market: An Analysis (2016-2026)
10.1 Europe Animal Health Market by value: Size and Forecast (2016-2026)
10.2 Europe Animal Health Market: Prominent Companies
10.3 Europe Animal Health Market: Segmental Analysis
10.4 Market Segmentation By Animal Type (Production Animals, Companion Animals)
10.5 Market Segmentation By Product Type (Pharmaceuticals, Vaccines, Feed Additives)
11. Asia-Pacific Animal Health Market: An Analysis (2016-2026)
11.1 Asia-Pacific Animal Health Market by value: Size and Forecast (2016-2026)
11.2 Asia-Pacific Animal Health Market: Prominent Companies
11.3 Asia-Pacific Animal Health Market: Segment Analysis
11.4 Market Segmentation By Animal Type (Production Animals, Companion Animals)
11.5 Market Segmentation By Product Type (Pharmaceuticals, Vaccines, Feed Additives)
12. LAMEA Animal Health Market: An Analysis (2016-2026)
12.1 LAMEA Animal Health Market by value: Size and Forecast (2016-2026)
12.2 LAMEA Animal Health Market: Prominent Companies
12.3 LAMEA Animal Health Market: Segment Analysis
12.4 Market Segmentation By Animal Type (Production Animals, Companion Animals)
12.5 Market Segmentation By Product Type (Pharmaceuticals, Vaccines, Feed Additives)
13. Global Cement Market Dynamics
13.1 Global Cement Market Drivers
13.2 Global Animal Health Market Restraints
13.3 Global Animal Health Market Trends
14. Market Attractiveness and Strategic Analysis
14.1 Market Attractiveness Chart of Global Animal Health Market - By Animal Type (Year 2026)
14.2 Market Attractiveness Chart of Global Animal Health Market - By Product Type (Year 2026)
14.3 Market Attractiveness Chart of Global Cement Market - By End User (Year 2026)
14.4 Market Attractiveness Chart of Global Cement Market - By Region (Year 2026)
15. Competitive Landscape
15.1 Market Share of global leading companies
15.2 SWOT Analysis- Global Animal Health Market
15.3 Porter Five Force Analysis- Global Animal Health Market
15.4 Supply Chain Analysis- Global Animal Health Market
15.5 Recent Developments, Mergers and Acquisitions
16. Company Profiles
Related Report:
Animal Healthcare Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027
The animal healthcare market is likely to register tremendous gains over the coming years owing to increasing adoption of pets, growing awareness regarding the benefits of nutritious foods among pet owners, and growing prominence of dogs as companion animals across the world. Additionally, rising R&D activities related to vaccine and drug development would also foster business growth. From a regional frame of reference, Asia Pacific animal healthcare market was valued at more than $29 billion in 2020 and is projected to grow with a 5.7% CAGR through the analysis timeline. Increasing investments in research & development of animal drugs for various zoonotic as well as foodborne diseases and improvement in animal health is anticipated to fuel the overall regional market.
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