New York, May 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Farm Animal Healthcare: By Product, By Animal Type, By End-use And Region – Global Analysis of Market Size, Share & Trends for 2019–2020 And Forecasts To 2031" - https://www.reportlinker.com/p06458691/?utm_source=GNW
PRODUCT OVERVIEW
Animal health refers to the treatment of medical disorders in animals through the use of specialized animal feeds, medications, vaccinations, and diagnostic devices. Animals are extremely important in human life. Animals, like humans, are susceptible to sickness and hence require comprehensive care from veterinarians & pet owners. The primary goal of the animal’s health sector is to improve and treat the health as well as well-being of companions and farm animals. Other than feeding livestock and pet food, the animal health sector covers any items and services that increase livestock production and animal health.
MARKET HIGHLIGHTS
Global Farm Animal Healthcare market is expected to project a notable CAGR of 7.8% in 2031.
Global Farm Animal Healthcare was valued at 35.6 billion in 2021 at a CAGR of 7.8%. The rise of the Animal Health Insurance market will be fueled by growing pet owner knowledge of animal health issues. The industry will continue to rise as a result of multiple government initiatives to assist pet healthcare.
GLOBAL FARM ANIMAL HEALTHCARE: SEGMENTS
Drug segment to grow with the highest CAGR during 2021-31
Drugs, vaccinations, feed, and diagnostics are among the market segments based on products. The drug segment has the biggest market share among the services. Throughout the forecast period, the category is expected to maintain its dominance. This is due to an increase in the prevalence of numerous diseases in animals, as well as an increase in the number of prescriptions to cure them. Animal disease prevention, control, and eradication necessitate the use of these medications.
Companion animals’ segment to grow with the highest CAGR during 2021-31
Livestock animals & companion animals are two market sectors for animals. Due to the growing tendency of keeping pets at home, the companion animals sector maintained the biggest veterinary healthcare market share. Furthermore, by the end of the forecast period, this category is expected to rise fast, owing to the rising rate of pet ownership to help the elderly & physically challenged, as well as a shift in attitude of pet owner to pet nurture.
MARKET DYNAMICS
Drivers
Incidences of zoonotic diseases are on the rise
Increasing research and development in veterinary medicine
Restraint
Government Regulations over animal drugs
GLOBAL FARM ANIMAL HEALTHCARE:
Key Players
• Boehringer Ingelheim GmbH,
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
• Virbac SA,
• Elanco,
• Bayer AG,
• Intas Pharmaceuticals,
• Zydus Animal Health,
• Merck Animal Health,
• Zoetis, Inc.,
• Vetoquinol SA,
• Ceva Sante Animale
• Other Prominent Players
GLOBAL FARM ANIMAL HEALTHCARE: REGIONS
Global Farm Animal Healthcare market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. During the projected period, North America will have the highest share of the global animal healthcare market. North America is scientifically technologically advanced of pharmaceuticals and diagnostics research and development, indicating that it is the dominant geography. Furthermore, the region has seen a considerable increase in pet adoption as well as an increase in zoonotic illness cases.
IMPACT OF COVID-19 ON FARM ANIMAL HEALTHCARE MARKET
The COVID-19 pandemic is expected to have a significant impact on the market. There is a wealth of information on coronavirus in animals, including its evolution and pathogenesis. The spread of coronavirus through one species to others can be studied using swine coronavirus illness as a model. Porcine delta coronavirus was recognized as the causative factor of severe diarrhea outbreaks in Asia and north America, according to a study published in Current Opinion in Virology titled " Porcine delta coronavirus enters cells by two routes: a protease-mediated one on cell membrane, and a cathartic release-mediated one in the endosome."
GLOBAL FARM ANIMAL HEALTHCARE REPORT ALSO CONTAINS ANALYSIS ON:
Farm Animal Healthcare Segments:
• By Product
o Drugs
o Vaccines
o Feed
o Diagnostic
• By Animal Type
o Companion Animal
o Farm Animal
• By End-use
o Veterinary hospitals & clinics
o Animal care & rehabilitation centers
o Diagnostics Centers
o Other
• Farm Animal Healthcare Dynamics
• Farm Animal Healthcare Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.
Read the full report: https://www.reportlinker.com/p06458691/?utm_source=GNW
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