Animal Health Market Size to Hit USD 67.56 Billion with 6.3% CAGR by 2026: Increasing Incidences of Zoonotic Diseases Worldwide will Drive Market, says Fortune Business Insights™

By Globe Newswire11 days ago

Pune, India, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The global animal health market size is anticipated to reach USD 67.56 billion by 2026 owing to the increasing number of animal health issues worldwide. Animals have always been of immense help to man either as companions or as livestock. With time, man starting adopting animals and keeping them as pets. Animals, alike humans, are susceptible to infections and diseases and require medical aid. As per a recently published report by Fortune Business insights™ titled, “Animal Health Market Size, Share and Global Trend By Product (Drugs, Vaccines, Feed, and Diagnostics), By Animal (Livestock Animals and Companion Animals), By End User (Veterinary Hospitals & Clinics, Animal Care & Rehabilitation Centers, Diagnostic Centers, and Others) and Geography Forecast till 2026“ the market size was USD 41.50 billion in 2018 and is anticipated to rise at a CAGR of 6.3%.

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Key Industry Development of the Animal Healthcare Market Include:

May 2019 – The Food and Drug Administration permitted a regulatory approval for OxyMed LA product offerings to Bimeda, Inc. The product under this offers treatment of shipping fever complex and pneumonia for cattle, along with bacteria enteritis.

Objectives of the Report

The report on the veterinary healthcare market is based on qualitative and quantitative analysis of factors driving, repelling, and challenging the market. It also provides a well-presented segmentation of the market based on factors such as product, animal, end user, and region. Additionally, the report offers insights about key industry developments and recent innovations in the market with the list of market names and the blueprints chalked out by them to stay ahead of the market competition. Furthermore, the report lists the current animal healthcare market trends and opportunities and is available for sale on the company website.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/animal-health-market-102371

Increasing Number of Pet Owners and Emphasis on Animal Health to Propel Growth

The increasing pet adoption is a major factor propelling animal health market growth. Besides this, analysts at Fortune Business Insights™ say, “the rising prevalence of diseases among animals, especially zoonotic diseases, is likely to promote the animal health market growth during the forecast period.“ Zoonotic diseases can be transmitted from animals to humans; a few of which include bubonic plague, salmonellosis, anthrax, rabies, and West Nile virus. Besides this, the rise in the number of animal healthcare clinics worldwide will also drive the market.

Presence of Advanced Teams for Research and Development Activities Will Aid Growth of the Market in North America

Geographically, the global animal health market is categorized into Europe, North America, Latin America, Asia Pacific, and the Middle East ...

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