New York, July 12, 2023 (GLOBE NEWSWIRE) -- The global animal healthcare market size was valued at USD 39.01 billion in 2022 and is projected to reach USD 60.3 billion by 2033, growing at a CAGR of 3.9% from 2023 to 2033. The growth of the animal healthcare market is being driven by the increasing demand for animal healthcare products and services, the rising prevalence of animal diseases, and the growing pet population.
Market Abstract:
The global animal healthcare market has experienced substantial growth in recent years, driven by factors such as increasing pet ownership, rising prevalence of zoonotic diseases, growing demand for animal-derived products, and technological advancements in veterinary medicine. This research report provides a comprehensive analysis of the global animal healthcare market, including market size, key trends, drivers and challenges, competitive landscape, and future prospects. The report aims to assist industry stakeholders, investors, and decision-makers in understanding the current market dynamics and making informed business decisions.
Stay Ahead with Market Intelligence Get Free Sample Copy@ https://www.persistencemarketresearch.com/samples/2882
Key Points for Animal Healthcare Market:
- The rising prevalence of animal diseases is a major driver of the market.
- The growing pet population is also a major driver of the market.
- Technological advancements in animal healthcare are also driving the market.
- The increasing demand for animal healthcare products and services is being driven by the growing pet population and the rising prevalence of animal diseases.
- The pet population is growing rapidly, as more and more people are choosing to own pets. This is leading to an increased demand for animal healthcare products and services.
- The rising prevalence of animal diseases is also driving the growth of the market. Animal diseases can be a major financial burden for pet owners, and they can also be a threat to public health. The development of new vaccines and diagnostics is helping to control the spread of animal diseases, and this is also driving the growth of the market.
- Technological advancements in animal healthcare are also driving the growth of the market. New technologies are being developed to diagnose and treat animal diseases, and these technologies are making it easier and more affordable to provide animal healthcare.
- Increasing awareness about animal health is also driving the growth of the market. More and more people are becoming aware of the importance of animal health, and this is leading to an increased demand for animal healthcare products and services.
Key Drivers
The growth of the global animal healthcare market is being driven by a number of factors, including:
- Increasing demand for animal healthcare products and services
- Rising prevalence of animal diseases
- Growing pet population
- Technological advancements in animal healthcare
- Increasing awareness about animal health
If You want to Purchase Specific Insights By Segment/Region/Competitor, Request For Customization@ https://www.persistencemarketresearch.com/request-customization/2882
Competitive Landscape
The global animal healthcare market is highly competitive, with a number of major players competing for market share. The key players in the market include: Bayer AG, Boehringer Ingelheim GmbH, Virbac SA, Zoetis, Inc., Hester Biosciences Ltd., Intas Pharmaceuticals Ltd, Merck Animal Health, Elanco (Eli Lilly and Company), Ceva Santé Animale, Alivira Animal Health Limited, Vetoquinol S.A., Zydus Animal Health, Norbrook Laboratories Limited, Phibro Animal Health Corporation, Dechra Pharmaceuticals PLC, Norbrook Laboratories, Inc and more
Recent Developments
- Merck Animal Health, a subsidiary of Merck & Co., announced in 2023 that it had launched a new vaccine for dogs called Nobivac Lepto 4. The vaccine is designed to protect dogs against four strains of Leptospira bacteria, which can cause a serious and potentially fatal disease.
- Zoetis, a leading animal health company, announced in 2022 that it had acquired Abaxis, a provider of point-of-care diagnostic systems for veterinary use. The acquisition is expected to help Zoetis expand its diagnostic offerings and reach new customers.
- Boehringer Ingelheim, a German pharmaceutical company, announced in 2022 that it had launched a new treatment for cats with hyperthyroidism called Felimazole. Felimazole is a once-daily oral medication that is designed to help control hyperthyroidism symptoms.
- Ceva Santé Animale, a French animal health company, announced in 2023 that it had launched a new vaccine for poultry called Avipro ND. The vaccine is designed to protect poultry against Newcastle disease, a highly contagious and often fatal viral disease.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/2882
Market Segmentations
The market is segmented by product type, animal type, end-user, and region.
- By product type, the market is segmented into pharmaceuticals, vaccines, and diagnostics. Pharmaceuticals is the largest segment of the market, followed by vaccines and diagnostics.
- By animal type, the market is segmented into companion animals, livestock, and poultry. Companion animals is the largest segment of the market, followed by livestock and poultry.
- By end-user, the market is segmented into veterinary hospitals and clinics, diagnostic laboratories, and pet owners. Veterinary hospitals and clinics is the largest segment of the market, followed by diagnostic laboratories and pet owners.
- By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for animal healthcare, followed by Europe and Asia Pacific.
Latest Top Reports:
- Biosensor Technology
- Combination Antibody Therapy Types
- Infection Surveillance Solutions
- Human Papillomavirus Testing Market Size
- Biosimulation Industry
- RNA Analysis
- Telestroke Services Market Size
- Biologics Contract Manufacturing
Persistence Market Research’s Expertise in Life Sciences and Transformational Health
Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations.
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
