The global animal health market is expected to reach USD 58.4 billion
by 2025, according to a new study by Grand View Research, Inc. The market is
driven by technological advancements in veterinary care, which are anticipated
to serve future growth opportunities to the market. For instance,
MediLabSecure, a laboratory network project, was initiated with an aim of
identifying emerging viruses and pathogens in 19 countries in the Mediterranean
regions. In addition, emergence of veterinary health information systems,
specifically in the developed economies, is expected to provide high growth
potential in future.
With the help of these systems, data generated in veterinary clinics can be
uploaded on the internet, which can be further shared with other researchers
and clinicians. The incorporation of this technology will facilitate real-time
analysis of fluctuations in disease prevalence. As a consequence of the
aforementioned factors, it is presumed that there will be significant
improvement in the overall penetration rate of animal health products, which is
also anticipated to fuel the market demand as well as the revenue to
unprecedented heights.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/animal-health-market
Further key findings from the study suggest:
- Vaccines are expected to exhibit lucrative growth rate during the forecast period. The exponential growth can be attributed to significant increase in the companion animal population, which demands long-term health
- Companion animal segment is anticipated to grow at an exponential rate owing to is a consequence of associated health benefits for humans, which includes lower blood pressure, greater psychological stability, and reduced anxiety attacks
- In 2015, North America accounted for the largest share in the global animal health market owing to local presence of established pharmaceutical companies, consistently striving for extensive commercialization of their products
- Asia Pacific is anticipated to grow at an exponential CAGR as a consequence of high clinical urgency to curb high incidence of zoonotic diseases and management of disease outbreaks, such as swine influenza and Ebola
- The key participants employ sustainability strategies, such as expanding product portfolio to gain competitive advantage. For instance, In March 2016, Merial entered into distribution agreement with Zoetis, Inc. to expand the dairy product portfolio in India
Read our blog on animal health market: http://www.grandviewresearch.com/blog/animal-health-market-size-trends
Grand View Research has segmented the animal health market on the basis of product, animal type, and region:
Product Outlook (Revenue, USD Billion, 2014 - 2025)
·
Feed Additives
·
Pharmaceuticals
·
Vaccines
Type Outlook (Revenue, USD Billion, 2014 - 2025)
·
Production Animal
·
Companion Animal
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For More Information Visit - http://www.grandviewresearch.com/
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