Pune, Oct. 12, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled “animal health market by product (mobile computing, medication carts, wall-mounted workstations), by type (crash cart, anesthesia cart, procedure cart) and end user (hospitals, ambulatory surgery centers, home care centers, diagnostic centers) – Global Perspectives and Forecast 2022-2030″ published by Growth Plus Reports, the animal health market is expected to grow at a 9.8% CAGR from 2021 to reach $90.33 billion by 2030.
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Animal health refers to the proper care of animal health through medications, feeds, diagnostics and vaccinations. Like humans, animals suffer from various diseases, requiring veterinary care. The main objective of the animal health market is to improve the health and welfare of animals. This market offers a variety of goods and services that improve animal production and animal health. These goods and services are prescription drugs, vaccines, food, dietary supplements and many more.
The animal health market is growing at a significant pace. The increase in animal and food-borne diseases is driving this expansion. Animal-borne diseases are spreading worldwide due to the increased adoption of pets for companionship, which increases the demand for animal health products and services. Additionally, variables such as an increase in the number of pets, an increase in the need for pet insurance, and rising income levels in industrialized countries all play a role. Additionally, increase in technical development for diagnosis of zoonotic diseases, increase in approvals for innovative products and drugs, and improvements in vaccinations are contributing to the expansion of the market. Moreover, increasing efforts by governments, increase in corporate mergers and acquisitions, and increase in expenditure on animal health are all contributing to the development of the market.
The animal health market has been analyzed from four angles: product, type of animal, end users and region.
Excerpts from ‘Segmentation by product’
Product in Animal Health Market has been segmented into:
The highest revenue share of the market belongs to the pharmaceutical sector. The increase in the incidence of animal diseases, the growing use of drugs for therapeutic purposes and the increase in the ownership of pets are all factors contributing to the expansion of this market. The increase in acquisition and cooperation rates can also be seen as a significant influence on the overall growth of this segment.
However, the diagnostics market is expected to grow significantly due to increased incidence of animal diseases and rising animal health costs. Continuous acceptance of innovative products, technological improvements and increasing demand for point-of-care diagnostics (such as pregnancy tests, blood glucose meters, etc.) are driving the development of the segment.
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Excerpts from ‘Segmentation by region’
The global animal health market has been segmented into:
- North America
- Asia Pacific
- Rest of the world
North America holds the largest revenue share in the market. Technological developments, an increase in zoonotic diseases, and an increase in the number of pet owners in the country are just some of the reasons why the animal health industry in this region is growing. These elements have also enabled government animal protection groups to employ a variety of effective strategies. The Europe zone should maintain its second position in this market, with regular growth forecasts over the long term. The market is growing due to increased consumption of animal-derived foods and stringent animal health regulations.
Excerpts from “Competitive Landscape”
Some prominent players operating in the Animal Health Market are:
- Novartis AG
- Bayer AG
- Intervet International B.V.
- Boehringer Ingelheim International GmbH
- Emergent BioSolutions Inc
- Elanco Animal Health Incorporated
- Emergent BioSolutions Inc
- Merck & Co. Inc.
- IDEXX Laboratories Inc.
- Zoetis Inc
- Vetoquinol SA
- Ceva Animal Health
- Market ecosystem
- Schedule under study
- Historical years – 2020
- Base year – 2021
- Planned years – 2022 to 2030
- Currency used in the report
- RESEARCH METHODOLOGY
- Research approach
- Data collection methodology
- Information source
- Secondary sources
- Primary sources
- Market estimation approach
- From bottom to top
- From top to bottom
- Market Forecast Model
- Limits and assumptions
- PREMIUM OVERVIEW
- Current market trends (COVID-19 outlook)
- Key players and competitive positioning (2021)
- MARKET DYNAMICS
- GLOBAL ANIMAL HEALTH MARKET – ANALYSIS AND FORECAST, BY PRODUCT
- GLOBAL ANIMAL HEALTH MARKET – ANALYSIS AND FORECAST, BY ANIMAL TYPE
- Farm animals
- GLOBAL ANIMAL HEALTH MARKET – ANALYSIS AND FORECAST, BY END USER
- Animal care and rehabilitation centers
- Diagnostic centers
- Hospitals and veterinary clinics
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Fueled by free analyst hours and expert interviews with every report
- Comprehensive quantitative and qualitative information at segment and sub-segment level
- Trends and perspectives of the impact of Covid 19
- Granular information at global/regional/country level
- In-depth insights into market dynamics (drivers, restraints, opportunities) and business environment
- Global coverage of the competitive landscape
- Winning imperatives
- Comprehensive coverage of “strategic developments” recorded by major market players
- Distributor Landscape Assessment
- Pricing Information
- Customer evaluation
- Analysis of investments and initiatives
- ‘Company Profile’ of key players
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