The
global Animal Health Market size is expected to reach USD
69.44 billion by 2026, according to a new report by Grand View Research, Inc.
It is anticipated to register a CAGR of 5.7% during the forecast period.
Ongoing technological advancements in veterinary care are anticipated to serve
future growth opportunities to the market. For instance, MediLabSecure, a
laboratory network project, was initiated with an aim to identify emerging
viruses and pathogens in 19 countries in the Mediterranean region. In addition,
emergence of veterinary health information systems, specifically in the
developed economies, is expected to provide high growth potential in future.
The
data generated through these health information systems in veterinary clinics
can be uploaded on the internet, which can be further shared with other
researchers and clinicians. Incorporation of this technology will facilitate
real-time analysis of fluctuations in disease prevalence. As a result, it is
presumed that there will be significant improvement in the overall demand for animal
health products, which is anticipated to fuel the animal health market as well
as the revenue to unprecedented heights.
The
companion
animal segment is anticipated to witness exponential growth over the
forecast period. Rise in adoption of companion animals owing to various
advantages such as lowered blood pressure, greater psychological stability, and
reduced anxiety attacks are anticipated to create growth opportunities for the
market over the forecast period.
In
terms of regions, the Asia Pacific region is projected to expand at an
exponential CAGR in the forthcoming years. Rising clinical urgency to curb high
prevalence of zoonotic diseases and efforts towards management of disease
outbreaks, such as swine influenza and Ebola is expected to create growth
opportunities for the regional market in near future.
The
retail channels and e-commerce platform is projected to hold a significant
market share in the forthcoming years. Factors, such as high convenience
associated with online pharmacies and increasing number of retail pharmacies is
projected to bode well for the segment growth.
To request a sample copy or view summary of this report,
click the link below:
https://www.grandviewresearch.com/industry-analysis/animal-health-market
https://www.grandviewresearch.com/industry-analysis/animal-health-market
Further key findings from the report suggest:
- Vaccines are
expected to exhibit lucrative CAGR over the forecast period due to
significant increase in adoption of companion animals driving the need for
long-term health
- Hospital
pharmacy segment held a substantial market share in 2018 owing to
increasing number of hospital pharmacies coupled with high procedural
volume as a consequence of frequent readmission of pets for treatment
- Point-of
testing is fastest growing end use of animal health products due to
increase in demand for highly productive animals and growing investment
for R&D for novel animal products
- In 2017,
North America accounted for the largest share of the global animal health
market owing to the presence of established pharmaceutical companies,
consistently striving for extensive commercialization of products
- 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.
About Us:
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Blog: https://healthcareforecastreport.blogspot.com/
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Blog: https://healthcareforecastreport.blogspot.com/
No comments:
Post a Comment