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Skip Navigation LinksHome Press releases Adoption of Companion Animals Likely to Boost Global Animal Health Market
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Adoption of Companion Animals Likely to Boost Global Animal Health Market
Date: 3 August 2018

Animals, like humans, also suffer from diseases and hence require proper care from veterinarians, farmers and pet owners. Improving the health of companion animals and livestock and treating them is the foremost objective of animal health industry. The animal health industry can be broadly classified into two parts - production and companion segments. Every animal has distinct need of its own and thus, requires different treatments in accordance to its breed. Further, on the basis of products, animal health market is divided into three main sections; pharmaceuticals, vaccines, and medicinal feed additives.

 

The key factors driving the growth of animal health market include rising disposable income, urbanization, rising demand for animal protein, faster regulatory approvals, increasing pet expenditure in the U.S., and favorable demographic supporting pet market. Some of the noteworthy trends and developments of this industry include consolidation of the market, increasing companion ownership, and rising incidences of zoonotic diseases. However, the expansion of animal health market is hindered by highly competitive landscape for new entrants and high cost of product development.

 

The report “Global Animal Health Market: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering North America, Europe, Asia-Pacific regions along with the global market. The report profiles the key players of the market including Bayer AG, Merck & Co., Inc., Eli Lilly and Company and Zoetis Inc.

 

 
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