Global animal pharma market to reach $68.45B in 2026

by Katie Pfaff

According to the market research company, Research, And Markets, the worldwide market in animal pharmaceuticals is forecast to grow at a CAGR of 7.05% from 2020 to 2026. The market was estimated to be valued at $45.23 billion in 2020 and is expected to reach $68.45 billion by 2026.

The boom is expected based on growth in the number of companion animals, an increase in the amount of milk and meat being consumed worldwide, and the transmission of Ebola and swine flu among animals. At the same time, animal pharmaceuticals have been recognized as important in public health, partially prompting some governments to fund programs. However, the market may also be hindered by animal testing regulations and the proliferation of fake therapeutics online.

Within the market report, separated by segments, companion animals take the largest share based on treatments pet owners receive through their veterinarians. Similarly, veterinary clinics and hospitals are expected to take the largest share of the end-user portion of the market, particularly those facilities that treat companion animals as well as livestock.

Source: https://www.globenewswire.com/news-release/2021/07/09/2260515/28124/en/Global-68-45-Billion-Animal-Pharmaceuticals-Drugs-Vaccine-Medicated-Feed-Markets-2016-2020-2021-2026.html

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Global animal pharma market to reach $68.45B in 2026

by Katie Pfaff

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