29 January 2021
Visiongain has published a new report on Animal Health Market Report 2021-2031: Forecasts by Animal Type (Production Animal (Poultry, Swine, Cattle, Sheep & Goats, Fish), Companion Animal (Dogs, Cats, Horses, Others)), Product (Vaccines (Live Attenuated Vaccines, DNA Vaccines, Recombinant Vaccines, Inactivated Vaccines, Others), Pharmaceuticals (Parasiticides, Anti-Infectives, Anti-Inflammatory, Analgesics, Others), Feed Additives (Nutritional, Medicinal), Diagnostics (Immunodiagnostics (ELISA Tests, Allergen-specific Immunodiagnostic Tests, Immunoassay Analyzers, Others), Molecular Diagnostics (Polymer Chain Reaction Tests, Microarrays, Others), Clinical Biochemistry, Hematology, Urinalysis, Others), Others), Distribution Channel (Retail, E-Commerce, Hospital Pharmacy), End-Use (Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, Others), AND Regional and Leading National Market Analysis PLUS Analysis of Leading Animal Health Companies AND COVID-19 Recovery Scenarios.
The global animal health market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to Visiongain analysis, global animal health market is estimated to be valued at US$ xx million in 2020. The market is expected to witness a CAGR of xx% from 2021 to 2026 and is expected to reach US$ xx million in 2026 from its previous value of US$ xx million in 2021. Visiongain further anticipates that the global market will reach US$ xx million in 2031 while growing at a CAGR of xx% from 2021 to 2031.
Which Factors are Fuelling Animal Health Industry Growth?
• Growing Funding in Animal Healthcare Industry
• Branded Generics Boosting Animal Health Market
• Growing Incidence of Zoonotic Diseases
• Rapid Technological Advancements
• Growing Focus on Animal Health
Which Factors are Restraining Animal Health Industry Growth?
• Lack of Standardization
• Increasing Influx of Counterfeit Drugs
• Rising Vaccine Storage Cost
Innovation in Pet Health to Fuel Animal Health Market Growth
The animal health sector is anticipated to evolve at a rapid pace. The veterinary health industry has diverse opportunities to implement new technologies. In veterinary clinics, for example, data generated can be uploaded to the internet for sharing with other clinics and researchers. This can allow for real-time monitoring of changes in disease prevalence. In addition, contact between vets and owners in real time about pet health concerns using mobile online technology is a significant area of development.
Asia Pacific to Witness Highest Growth Rate
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to growing investments for strengthening the animal healthcare sector by government across economies of China and India. Over the years, animal husbandry in India has undergone magnificent changes thanks to the adoption of innovative technologies for the prevention and treatment of farm animals and their companions. There has been a fundamental change in the market philosophy to animal welfare firms, which has changed from medical to preventive to quality improvement, and now to comprehensive animal health services. The animal welfare sector has developed and driven animal husbandry to unprecedented heights of prominence through modern methods and paradigms.
Some of the companies profiled in the report include Merck Animal Health, SeQuent (Alivira Animal Health Limited), Zoetis, Boehringer Ingelheim GmbH, Elanco, Ceva, Virbac, Vetiquinol S.A., AusDiagnostics Pty, Ltd., Agrolabo S.p.A, BioMérieux SA, Bio-X Diagnostics, Chembio Diagnostic Systems, Inc., Creative Diagnostics, Demedetic Diagnostics GmbH, DRG Diagnostics GmbH, Eurofins Technologies, Eurolyser Diagnostica, Genesig (Primerdesign), Heska Corporation, IDEXX Laboratories, Inc., InBios International, Inc., Neogen Corporation, and Thermo Fisher Scientific, Inc.
Notes for Editors
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