Global Animal Health Market (Feed Additives, Pharmaceuticals & Vaccines): Insights & Forecast 2024-2028
The global animal health market is expected to record a value of US$64.71 billion in 2028, growing at a CAGR of 6.31% for the period spanning 2024-2028.
The factors such as growing middle class population, rising cattle/cow population, surge in demand for animal protein, rising U.S. expenditure on pets and growing urbanization would drive the growth of the market. However, the market growth is predicted to be hindered by increasing competitive landscape and rising cost of product development, along with the stringent regulatory approval of veterinary drugs. A few notable trends may include upsurge in meat consumption, increasing companion animal ownership, rising incidences of zoonotic diseases and technological advancements.
Based on product type, the global animal health market can be segmented into feed additives, pharmaceuticals and vaccines. Feed additives segment has been dominating the global market over the past few years, followed by pharmaceuticals and vaccines. The feed additives market is expected to dominate the market in future due to the increased production of meat and dairy products.
The fastest regional market was North America due to the presence of well established healthcare infrastructure and major pharmaceutical players that continue to develop new veterinary products in the market.
Scope of the report
The report provides a comprehensive analysis of the global animal health market along with the focus on feed additives, pharmaceuticals and vaccines market.
The major regional markets (North America, Europe, Asia Pacific and ROW), along with the country coverage of the U.S., France, the U.K., Italy, Germany, India and Brazil have been analyzed in detail.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Merck & Co., Inc., Bayer, Eli Lilly, Boehringer Ingelheim, Zoetis Inc. and Elanco) are also presented in detail.
Key Topics Covered:
1. Market Overview
2. Impact of COVID-19
3. Global Animal Health Market
4. Regional Markets
5. Market Dynamics
6. Competitive Landscape
7. Company Profiles
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