Animal Health Market Projected to Surpass $73.6 Billion By 2027 | Grand View Research, Inc

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Animal Health Market Projected to Surpass $73.6 Billion By 2027 | Grand View Research, Inc

August 25
23:05 2020
Animal Health Market Projected to Surpass $73.6 Billion By 2027 | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global animal health market size was valued at USD 47.1 billion in 2019 and is expected to exhibit a CAGR of 5.8% during the forecast period.

The global animal health market is expected to value at 73.6 billion by 2027, with a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increase in technological advancements in the veterinary care and growing awareness about animal welfare is likely to propel the market growth throughout the forecast period. Moreover, the emergence of health information systems is expected to supplement the market demand for animal vaccine in the near future.

Government initiatives are beneficial in promoting animal health and welfare in various countries. For instance, according to the UN Department of Economic and Social Affairs the population is expected to grow by leap and bounds by 2050 and this would generate a tremendous need for food and nourishment. Therefore, the government policies for animal-based food product will play a significant role in pricing, access to protein based foods at affordable price range.

The technological advances in the veterinary healthcare is expected to create a pool of opportunities such as emergence of information management in the healthcare systems and a high focus on animal welfare. Major players are emphasizing on producing pathogen-free vaccines with high resistance. Hence, innovative practices in the manufacturing of vaccine is anticipated to strengthen the supply-chain.

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North America animal health market size, by product, 2016 - 2027 (USD Billion)

Covid-19 Effect:

On account of covid-19, there is a tremendous research ongoing on animals to evaluate the impact of infection. The findings by the U.S. Center for Disease Control and Prevention states, animals such as dogs and cats can get infected and pass onto similar species but it is very unusual for animal to human transmission. The data suggests that dogs carry the infection but there can be rare chances to spread. While cats and ferrets can easily spread the infection among the same species. Although the research is limited at present, the impact of virus on wild animals and pets is been studied under laboratory settings on non-human primates such as macaques and marmosets. The studies are based on smaller data sets leading to ambiguity whether the infection can spread from animals to humans.

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Global animal health market share, by animal type, 2019 (%)

Key Takeaways from the report:

  • Vaccine segment is expected to rise at a high CAGR owing to the increase in animal adoption. Growing urbanization, shift in adoption trends such as growing demand for international breed of dogs and cats, is driving the demand for vaccines
  • Distribution segment comprises retail channels owing to the widening scope of E-commerce platforms as the vaccine demand through online pharmacies have gained a huge popularity
  • The point-care testing in the end-use segment has gained a high momentum in the past few years owing to increase in demand for productive animals and rise in R&D for developing animal products
  • Asia Pacific is the growing market for animal health owing to the presence of animal husbandry, welfare practices and routine camps for animal vaccines set up by NGOs
  • North America is the leading market for animal vaccine owing to the presence of key players, regulation and stringent policies

Major Players:

  • Bayer AG
  • Zoetis
  • PHARMAQ
  • Norland Sett Vaks
  • BIVI Cydectin

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Grand View Research has segmented the global animal health market on the basis of animal type, product, distribution channel, end use, and region:

Animal Health Animal Type Outlook (Revenue, USD Million, 2016 – 2027)

  • Companion Animal
    • Dogs
    • Cats
    • Horses
    • Others
  • Production Animal
    • Poultry
    • Swine
    • Cattle
    • Sheep & Goats
    • Fish

Animal Health Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Vaccines
    • Live Attenuated Vaccines
    • DNA Vaccines
    • Recombinant Vaccines
    • Inactivated Vaccines
    • Others
  • Pharmaceuticals
    • Live Attenuated Vaccines
    • DNA Vaccines
    • Recombinant Vaccines
    • Inactivated Vaccines
    • Others
  • Feed Additives
    • Nutritional
    • Medicinal
  • Diagnostics
    • Instruments
    • Consumables
  • Others

 Animal Health Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)

  • Retail
  • E-commerce
  • Veterinary Hospitals & Clinics

Animal Health End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Reference Laboratories
  • Point-of-care Testing/In-house Testing
  • Veterinary Hospitals & Clinics
  • Others

Animal Health Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Russia
    • Spain
    • Netherlands
    • Switzerland
    • Sweden
    • Ireland
    • Poland
  • Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Thailand
    • Australia
    • South Korea
    • Philippines
    • Malaysia
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Turkey
    • Iran
    • United Arab Emirates
    • Israel

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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Website: https://www.grandviewresearch.com/industry-analysis/animal-health-market

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