Animal Healthcare Market Report 2023 | R&D Consistency Drives Sector Growth

The Animal Healthcare Market Sales is expected to be valued US$ 40.9 billion in 2023 and US$ 62.3 billion by 2033, rising at a 4.3% CAGR during the forecast period.

One of the primary causes of this increase is the growing occurrence of zoonotic diseases such as animal flu, tick infestation, and Lyme disease. Pet adoption for companionship has led in an increase in animal-borne diseases, resulting in a greater demand for sufficient Animal Healthcare. Furthermore, the availability of Animal Healthcare goods and services, as well as growing public knowledge of the benefits of early diagnosis and preventive actions, are boosting the market.

Another issue is that people's health consciousness is expanding, which is raising demand for protein-rich foods such as poultry, fish, beef, and meat. The global expansion of veterinary hospitals, as well as online and offline distribution channels, is also helping to boost the market's outlook.

Furthermore, market growth is being fueled by the development of cutting-edge technology systems that allow critical data collected in veterinary clinics to be uploaded to the internet and shared with clinicians. Rising R&D activities in the healthcare industry to investigate the efficacy of pharmaceuticals and medical devices are also propelling the market.

Finally, the use of animals in the development of medications for the research of several genetic and chronic human diseases is fueling market growth.

Some of the Key Players Operating in the \ Market Include:

Neogen, Zoetis, Merck, Boehringer Ingelheim, Elanco, Dechra Pharmaceuticals, IDEXX Laboratories, B. Braun Vet Care, and Medtronic.

Browse More@ https://www.futuremarketinsights.com/reports/animal-healthcare-market

Animal Healthcare Market Segmentation

Product Type:

  • Feed Additives
  • Pharmaceuticals
  • Vaccines

Animal Type:

  • Production Animals
  • Companion Animals

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