Global Animal Therapeutics and Diagnostics Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Animal Therapeutics and Diagnostics consolidates variety of instruments and treatment involving use of drugs for the animals. These diagnostic instruments help in the determination of causative agents of diseases. There is need to development in diagnostic instruments with continuous emergence of different diseases. With rise in companion animals coupled with slight similarity of human & animal body in terms of structure & function has considered for safe and effective treatment for the animals. Animals are essential source of food, meat, milk, protein, and many other commercial products including leather. The increasing priority towards pet obesity, increase ownership of companion animals and increasing animal medical expenses is created the growth of the market. The most of countries are depends on animal husbandry for their income. Therefore, the demand for animal therapeutics and diagnostics projected to remain high in the forthcoming years. The global animal therapeutics and diagnostics market held USD 27572.7 million in 2020 and will register to grow at a CAGR of 6.9% during the forecast period.
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Market Dynamics and Factors:
Rapid increase in demand for animal-derived food products such as meat, the increase in pet ownership worldwide and are the primary drivers for the growth of the global animal therapeutics and diagnostics market. In addition, the increasing veterinary practitioners in developed regions and the rising expenditure on animal health and pet insurance are some of the other factors to fuel the growth of the market in the near future. For example, Bayer Animal Health launched Zelnate which is used for the treatment of bovine respiratory diseases in August 2015. Conversely, the lack of awareness regarding animal healthcare are responsible to restrain the market growth. Additionally, rapid growth in reasearch and development in the veterinary therapeutics sector are also boosting the growth of market during the next coming years. On the contrary, the rising disposal income, prosperous livestock markets and exceptional animal products export abilities in developing region is creating immense opportunities for the market growth during forecast timeframe. However, on-going global efforts on diagnostic instrument investment and awareness about animal health care are considered to be the challenge for market in the near future.
Market Segmentation:
Global Animal Therapeutics and Diagnostics Market – By Therapeutic Products
Anti-Parasitic Drugs & Antibiotics
Anti-Inflammatory Drugs
Anaesthetics
Others
Global Animal Therapeutics and Diagnostics Market – By Diagnostics Products
Instruments
Consumables
Global Animal Therapeutics and Diagnostics Market – By Animal Type
Companion Animals
Cattle
Pigs
Poultry
Sheep
Global Animal Therapeutics and Diagnostics Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to largest share in the growth of the global animal therapeutics and diagnostics market, due to the strong economic development, the existence of better animal health care system, growing trend of pet rights, and higher stress on the impediment of diseases by owners and veterinarians in the region. Europe holds the major growth rate in the global market attributed to the changing food habits, and rising per capita expenditure on animal health. Furthermore, Asia pacific is anticipated to fastest growing regional market, owing to the growing trend of pet adoption, increasing livestock population, increase in the research on therapeutic drugs and diagnostic instruments and rapid urbanization during the forecast time frame. On the other hand, Latin America and the Middle East & Africa region are projected to continuous growth of the global market during the upcoming years. Merck accounted 93% of Vallée S.A. in July 2016 for USD400 million to strengthen its presence in this region.
Competitive Scenario:
The key players of global animal therapeutics and diagnostics markets are AUV Veterinary Cooperative, Bayer AG, Eli Lilly and Company, Boehringer, Ingelheim GmbH, Heska Corp., Merck & Co., Inc., Ceva Santé Animale, Sanofi S.A., Nutreco N.V., Virbac S.A., and Zoetis Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Animal Therapeutics and Diagnostics industry, although key threats, opportunities and disruptive technologies that could shape the Global Animal Therapeutics and Diagnostics Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Animal Therapeutics and Diagnostics Market most.
The data analysis present in the Global Animal Therapeutics and Diagnostics Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Animal Therapeutics and Diagnostics Market business.
The 2021 Annual Global Animal Therapeutics and Diagnostics Market offers:
100+ charts exploring and analysing the Global Animal Therapeutics and Diagnostics Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Animal Therapeutics and Diagnostics Market type
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