Animal health products is expected to grow at a significant CAGR of 4.0% . Animals require proper attention from their owners daily in order to maintain excellent health. Because the production of healthy livestock guarantees a stable food supply and maintains consumer price stability, frequent animal health monitoring and the prevention of animal disease outbreaks have become essential for every country. The animal health industry is steadily gaining pace around the world since effective management and prevention are required to minimise the spread of zoonotic illnesses among animals and humans. Furthermore, due to rising disposable incomes, increased awareness through print and electronic media, and the burgeoning trend of pet humanization, pet and livestock owners are prepared to spend on animal healthcare products and services.
Additionally, one out of every five farm animals dies from disease each year, according to the World Organization for Animal Health (OIE). Furthermore, six international incidents of animal disease resulted in an economic loss of $80 billion over the last 12 years. Each year, farmers lose up to $21 billion due to foot and mouth disease in animals. Moreover, cattle disease can increase GHG emissions by as much as 24% per unit of milk and 113% per beef carcass. As a result, the rising prevalence of animal disease is driving up demand for animal health products to help protect, diagnose, and treat animals against disease, resulting in market growth.
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Animal Health Products Market Segmentation
By Type
- Poultry
- Cattle
- Aquatic
- Porcine
By Product
- Pharmaceuticals
- Vaccines
- Feed Additives
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Zoetis Inc.
- Ceva Santé Animale
- Elanco Animal Health Inc.
- Merck Animal Health
- Vetiquinol S.A.
- Boehringer Ingelheim GmbH
- Virbac
- Heska Corp.
- Nutreco N.V.
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