DUBLIN – (BUSINESS WIRE) – May 24, 2021 –
the “Global animal health market (food additives, pharmaceuticals and vaccines): outlook and forecast with potential impact of COVID-19 (2021-2025)” the report was added to ResearchAndMarkets.comoffer.
The global animal health market is expected to register a value of US $ 53.92 billion in 2025, with a CAGR of 6.3% for the period 2021-2025. Factors such as a growing middle class population, increasing cattle and cow population, surging demand for animal protein, rising U.S. spending on pets, and increasing urbanization would stimulate market growth.
However, market growth is expected to be hampered by the growing competitive landscape and the rising cost of product development, as well as the strict regulatory approval of veterinary drugs. A few notable trends may include an increase in meat consumption, an increase in pet ownership, an increase in the incidence of zoonotic diseases, and technological advancements.
Based on the type of product, the global animal health market can be segmented into food additives, pharmaceuticals, and vaccines. The food additives segment has dominated the global market in recent years, followed by pharmaceuticals and vaccines. The food additives market is expected to dominate the market in the future due to increased production of meat and dairy products.
The fastest growing regional market has been North America due to the presence of a well-established healthcare infrastructure and large pharmaceutical players who continue to develop new veterinary products in the market. However, the COVID-19 outbreak has restricted industrial production in various sectors, disrupting the supply chain of animal health products and thus causing its market to decline in 2020.
- Boehringer Ingelheim
- Eli lilly
- Merck & Co., Inc.
- Zoetis Inc.
Scope of the report:
- The report provides a comprehensive analysis of the global animal health market along with the focus on the food additives, pharmaceuticals, and vaccines market.
- The main regional markets (North America, Europe, Asia-Pacific and ROW), as well as the geographic coverage of the United States, France, United Kingdom, Italy, Germany, India and Brazil have been analyzed in detail.
- Market dynamics like growth drivers, market trends and challenges are analyzed in depth.
- The competitive landscape of the market, along with the company profiles of major players (Merck & Co., Inc., Bayer, Eli Lilly, Boehringer Ingelheim, Zoetis Inc., and Elanco) are also presented in detail.
Main topics covered:
2. Impact of COVID-19
2.1 Decrease in meat production
2.2 Decrease in the pet adoption rate
2.3 Impact on consumers’ eating habits
3. Global Animal Health Market
4. Regional markets
4.1 North America
5. Market dynamics
5.1 Growth drivers
5.1.1 Growing middle class population
5.1.2 Increase in the cattle and cow population
5.1.3 Increasing demand for animal protein
5.1.4 Increased U.S. Pet Spending
5.1.5 Growing urbanization
5.1.6 Favorable demographics supporting the pet market
5.2 Main trends
5.2.1 Increase in meat consumption
5.2.2 Growth in Pet Insurance
5.2.3 Increase pet ownership
5.2.4 Growing Incidence of Animal-to-Human Disease
5.2.5 Technological advances
5.3.1 Highly competitive landscape for new entrants
5.3.2 Increased Product Development Costs
5.3.3 Rigorous drug regulatory approval process
6. Competitive landscape
6.1 Global market
6.1.1 Key players – Income comparison
6.1.2 Key players – Market capitalization comparison
6.1.3 Key players – Comparison of R&D expenditure
6.1.4 Global Animal Health Market Share by Company
7. Company profiles
For more information on this report, visit https://www.researchandmarkets.com/r/l58zig
View source version on businesswire.com:https://www.businesswire.com/news/home/20210524005366/en/
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INDUSTRY KEYWORD: HEALTH OTHER HEALTH
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 05/24/2021 6:28 a.m. / DISC: 05/24/2021 6:28 a.m.
Copyright Business Wire 2021.