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The global animal health market size was USD 41.50 billion in 2018 and is projected to reach USD 67.56 billion by 2026, exhibiting a CAGR of 6.3% during the forecast period.
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Title: Animal Health Market to Rise at 6.3% CAGR till2026 Animal Health Market to Reach $67.56 Billion by2026 Description: Animal Health Market: Increasing Number of Animal Health Clinics and Launch of New Animal Health Service Products Worldwide Will BoostMarket Content: The global animal health market sizeis 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 anddiseases 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 of6.3%. Major GrowthDrivers: Increasing Number of Pet Owners and Emphasis on Animal Health to PropelGrowth 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 themarket. Additionally, animals work as test subjects for various medication and drug tests. It is important to test drugs on animals attributable to the fact that research on most prolonged and genetic diseases affecting man cannot be approved for testing on humansubjects. Animal studies are used for the development of new surgical techniques such asorgan transplantations, new drug testing, and also for nutritional research. The fact that animals serve as research subjects for valuable research on long-lasting deteriorating diseases is further propelling the need to maintain the health of theseanimals. For More Information: https://www.fortunebusinessinsights.com/animal-health-market- 102371 Regional Analysis– Presence of Advanced Teams for Research and Development Activities Will Aid Growth of the Market in NorthAmerica
Geographically, the global animal health market is categorized into Europe, North America, Latin America,Asia Pacific, and the Middle East and Africa. These regions are further categorized into nations. Among these, North America held the largest veterinary healthcare market share and generated a revenue of USD 14.12 billion in 2018. This is attributable to the presence of numerous animal health centers and technologically advanced team for research and development of novel therapeutics. Besides this, the rise in the number of pet owners and their rising concern for maintaining the health of their pets will help in the expansion of themarket. Europe stands second in the veterinary healthcare market, owing to the consistent growth witnessed in the past few years. Besides this, the market in Asia Pacific will witness significant growth on account of the increasing number of biopharma companies in countries such as India, Japan, andChina. More Trending Topics from Fortune BusinessInsights: Bovine Lactoferrin Market Size, Share, Growth, Sales and Drivers Analysis Research Report 2026 Bovine Lactoferrin Market Size worth USD 551.8 Million By 2026; New Techniques For Manufacturing Lactoferrin Will Create GrowthOpportunities
