Animal Healthcare Market Expected to Reach $100 Billion by 2028, Driven by Rising Demand for Livestock-Based

Animal Healthcare Market

Market Overview

The global market intelligence and business consulting firm Maximise Market Research recently published a report on Animal Healthcare market in which it indicates the expected growth of the Animal Healthcare market in forecast period by 2029. MMR have clients across the globe in more than 34 countries and has served more than 600 clients since 2017.

One of the key drivers propelling the worldwide market for animal healthcare is the increased emphasis on healthcare, such as new animal diseases. Nevertheless, modifications to factory farming practises for bulk production, which need for high-quality animal feed additives, hygiene management products, and immunisations, among other things, are anticipated to grow the animal healthcare market throughout the course of the projected period. Pharmaceutical businesses have the opportunity to offer therapies for new animal diseases that appear every year. Infectious illness outbreaks are also increasing, as are technical improvements and rising spending by big businesses, all of which are fueling the market's expansion.

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Market Scope

In the report the forecast period is considered from 2021 to 2029 with the base year as 2021. The report indicates the market size in terms of value and volume that is estimated on real numbers and outputs of the key players across the globe. The report is an in-depth analysis of the Animal Healthcare market and the market segmentation. The report assists the readers to analyse the competitive landscape of prominent firms and the new entrants in the Animal Healthcare market.

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Segmentation

By type of animal, Farm animals had a greater revenue share of over 55% in the animal healthcare market due to their increasing acceptance, which is addressing the global need for animal-based food products. One of the main factors propelling the farm animal sector market ahead is the expanding demand for animal protein as a result of rising meat consumption.

By kind of distribution channel, Online pharmacies are predicted to dominate the industry due to the widespread usage of e-commerce. Veterinarian hospitals made up a larger percentage of the global market for animal healthcare than veterinary clinics did. A wide variety of services, including accommodation and nursing care, are provided for animals at veterinary clinics. Many pet owners choose to take their animals to veterinary clinics because of the extensive animal healthcare services offered there.

The online sector of the animal healthcare market is anticipated to develop at a CAGR of more than 4.8 percent through 2029 due to greater digitization, consumer convenience (buying at the touch of a button), and preference for e-commerce channels due to lower drug price. Another benefit of buying medications online is that customers may pre-order them, assuring a constant supply of medication. Also, online pharmacies provide accessibility and convenience every day of the week, 24 hours a day.

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Key Players

• Bayer Healthcare AG
• Boehringer Ingelheim GmbH
• Cargill Inc.
• Ceva Sante Animale
• Eli Lilly and Company (Elanco/Novartis)
• Evonik Industries
• Merck & Co. Inc. (Intervet)
• Nutreco N.V.
• Sanofi S.A. (MERIAL Limited)
• Vetoquinol SA
• Virbac SA.
• Zoetis Inc. (Pfizer)
• C.H. Boehringer
• Sohn AG & Co. KG
• Hester Biosciences Ltd.
• Intas Pharmaceuticals Ltd.
• Elanco
• Alivira Animal Health Limited
• Zydus Animal Health
• Norbrook Laboratories Limited
• Phibro Animal Health Corporation

Regional Analysis

In-depth investigations of the Animal Healthcare market on a regional basis can be seen in the report. The government initiatives in the sector and regulations and rein in rising expenses drive the Animal Healthcare market growth in the region. The geographic condition of the Animal Healthcare market and in-depth analysis of business network structure and opportunities and new updates of market are included in the report.   

Key Questions answered in the Animal Healthcare Market Report are:

·        What is Animal Healthcare Market?

·        What is the forecast period of the Animal Healthcare Market?

·        What is the competitive scenario of the Animal Healthcare market?

·        Which region held the largest market share in the Animal Healthcare Market?

·        What are the opportunities for the Animal Healthcare Market?

·        What factors are affecting the Animal Healthcare market growth?

·        Who are the key players of the Animal Healthcare market?

·        Which company held the largest share in the Animal Healthcare market?

·        What will be the CAGR of the Animal Healthcare market during the forecast period?

·        What key trends are likely to emerge in the Animal Healthcare market in the coming years?

Key offerings:

·        Market Share, Size, and Forecast by Revenue|2022-2029

·        Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends

·         Market Segmentation: A detailed analysis by Animal Healthcare

·        Landscape- Leading key players and other prominent key players.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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