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Animal healthcare market size to increase by USD 9,492.82 million: North America will account for 40% of market growth

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NEW YORK, Jan. 24, 2023 /PRNewswire/ — The animal healthcare market by product, animal type, and geography – forecast and analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 4.3% and register an incremental growth of USD 9,492.82 million during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download a PDF sample report

Technavio has announced its latest market research report titled Global Animal Healthcare Market 2023-2027

Company profiles

The animal healthcare market report includes information on the key products and recent developments of leading vendors, including:

  • APA United Nano Technology Co. Ltd.: The company offers solutions for animal healthcare, including shampoo, pet gel, daily food, and other items.

  • Biogenesis Bago SA: The company offers solutions for animal healthcare, including antibiotics, vitamins and minerals, and other daily usage items.

  • Boehringer Ingelheim International GmbH: The company offers solutions for animal healthcare, including medicinal products such as Aftopor, Arti-cell Forte, Aservo, and Avinew.

  • Cargill Inc.: The company offers solutions for animal healthcare under the brand names Diamond V, EWOS, Nutrena, and Provimi.

  • Ceva Sante Animale: The company offers solutions for animal healthcare by focusing on disease prevention.

  • Chanelle Pharma Group

  • Covetrus Inc.

  • Dechra Pharmaceuticals Plc

  • Elanco Animal Health Inc.

  • To gain access to more vendor profiles available with Technavio, buy the report!

Regional analysis

Based on region, the global animal healthcare market is segmented into North America, Europe, Asia, and Rest of World (ROW). North America is estimated to account for 40% of the growth of the global market over the forecast period. The growth of the market in the region is driven by pet humanization because of increasing disposable incomes. In the US, around 84 million households own a pet. These pets require animal healthcare products for the treatment of conditions such as otitis externa, diabetes mellitus, and cardiovascular diseases. The trend of pet ownership is likely to continue during the forecast period, which will increase the demand for various animal healthcare products.

Market dynamics

The market is driven by factors such as the increase in animal ownership, the rise in the incidence of zoonotic diseases, and the increasing use of organic tracing elements for improving livestock production. However, contamination of animal-source foods is hindering the market growth.

Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Request a sample

Market segmentation

  • Based on product, the market is segmented into pharmaceutical, feed additive, and biologicals. The pharmaceutical segment accounted for the largest share of the market in 2022.

  • Based on geography, the market is segmented into North America, Europe, Asia, and Rest of World (ROW). North America held the largest share of the market in 2022.

  • Based on animal type, the market is segmented into livestock and companion animals.

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The animal sedative market size is expected to increase by USD 190.96 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.85%. This report extensively covers animal sedative market segmentation by type (parenteral and oral) and geography (North America, Europe, Asia, and Rest of World (ROW)).

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What are the key data covered in this animal healthcare market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the animal healthcare market between 2023 and 2027

  • Precise estimation of the animal healthcare market size and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the industry across North America, Europe, Asia, and Rest of World (ROW)

  • Thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of animal healthcare market vendors

Animal Healthcare Market Scope

Report Coverage

Details

Page number

166

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.3%

Market growth 2023-2027

USD 9,492.82 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.1

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 40%

Key countries

US, Germany, UK, France, and China

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

APA United Nano Technology Co. Ltd., Avante Health Solutions, Bimeda Inc., Biogenesis Bago SA, Boehringer Ingelheim International GmbH, Cargill Inc., Ceva Sante Animale, Chanelle Pharma Group, Covetrus Inc., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Heska Corp., Hester Biosciences Ltd., Merck KGaA, Midmark Corp., Norbrook Laboratories Ltd., Phibro Animal Health Corp., SeQuent, Virbac Group, and Zoetis Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio’s health care market reports

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Animal Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Global Dairy Ingredients Market 2023-2027 (PRNewsfoto/Technavio)

Global Dairy Ingredients Market 2023-2027 (PRNewsfoto/Technavio)

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