Animal Health Care Market
The global animal health care market is deemed to increase in valuation by 2025. This can be attributed to increased humanization of pets, pet welfare laws, action against animal cruelty, and massive demand for animal protein. The global population number will touch close to 9 billion by 2050 which can induce the demand for meats and bolster the global market growth. Producers of protein are developing formulations which would enhance the diet of animals as well as provide good health benefits to this regard.
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The following Key Players are covered:
Merck Animal Health
Ceva Sante Animale
Boehringer Ingelheim GmbH
High cases of zoonotic diseases due to growing climate change and urbanization is predicted to be one of the biggest drivers of the market. According to the World Health Organization (WHO) report, nearly 75% of diseases discovered in the last decade are zoonotic in nature. Rising expendable income levels of pet owners and the need for companionship can be beneficial to the market. Public awareness campaigns for identifying symptoms of infectious diseases and preventive measures against zoonosis are other factors driving the animal health care market. To this regard, scientists from reputed universities and government animal hospitals from the U.K. and U.S. decided to create awareness by creating posters and leaflets for animals in Azerbaijan in 2018. Availability of pet insurance policies which can cover maximum treatment and visiting costs to the veterinarian can also drive the animal health care market.
The global animal health care market report is segmented by type and application. By type, it is segmented into ovine, bovine, porcine, and poultry. Among them, the porcine segment can generate maximum market revenue due to demand for livestock products. The need for proteins due to protein disorders can drive the segment demand. Initiatives by nations and adoption of vaccines, antibiotics, and other treatments are other drivers of the segment. On the other hand, the poultry segment is estimated to gain significant revenue due to the demand for meat from birds. Need for clean meat combined with the surge in production of processed meats of duck and turkey can drive the segment growth. Nutrition assistance programs which promote the consumption of eggs can also act as a growth catalyst.
Major market applications encompass direct distribution, drug stores, pharmacies, pet shops, veterinary clinics, and veterinary hospitals. Pharmacies can account for the largest market share due to the investment in creation of vaccines and drugs by major pharma companies. Concerted efforts by government research organizations and private firms in the European Union can boost innovation rapidly. Veterinary hospitals and clinics can also account for a sizeable market share due to the huge patient volume of pets being admitted frequently.
Regions and countries focused in the global animal health care market report include Europe, North America, Japan, and China. The China region can be lucrative for the market due to rise in swine farming and demand for pork. It can exhibit a healthy growth rate over the forecast timespan due to efforts by researchers for producing effective vaccines and fostering the growth of swine production. Vendors are multiplying their focus on gaining vaccines which can act as a defense against avian and porcine diseases.
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This post was originally published on Market Reports