Veterinary Health Products Market Trends Evaluation 2021-2027 By Leading Players Updates, Consumer-Demand, Industry Development and Forecast to 2027 | BMRC
Pune, Maharashtra, India, January 15 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Global Veterinary Health Products Market is valued at USD 36.91 Billion in 2018 and expected to reach USD 71.02 Billion by 2025 with the CAGR of 9.80% over the forecast period.
Increasing prevalence of pet insurance is the major growth factor of the global Veterinary Health Products market growth.
Scope of Global Veterinary Health Products Market Report–
Veterinary medicine, also called veterinary science has made many important contributions to animal and human health. Veterinary medicine is the part of medicines which are prevent, diagnosis and helpful in the disease, disorder and injury recovery in animal. The wide ranges of animals are created the scopes for veterinary medicines.veterinary medicines are useful in the treatment in wild as well as domestic animal. The veterinary healthcare market growth has been influenced by the opportunities in all categories of animal health care products such as; pharmaceuticals, vaccines and medical feed additives. Rising affinity with pets and growing humanization are supplementing the veterinary healthcare market.
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Global veterinary health products market report is segmented on the basis of product, industry and regional & country level. Based on product, global veterinary health products market is classified as animal pharmaceuticals, vaccines, performance enhancers and feed additives. Based upon industry, global veterinary health products market is classified as pet, livestock and poultry.
The regions covered in this veterinary health products market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Veterinary Health Products is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Veterinary Health Products Companies
Global Veterinary Health Products marketreport covers prominent players like
Alpharma Animal Health Adisseo France BASF Bayer Boehringer Ingelheim DSM Elanco Zoetis others
The Increasing Demand of Vaccines for Animals is the Key Driving Factor of Global Veterinary Health Product Market.
In the recent years, the pet ownership is increased and the awareness about animal health and vaccines is also increased. Animals play an inevitable role in families, where they are essentially considered as family members than pets. Number of families are choosing the pet insurance option. Vaccines for pets offer immunity against diseases, providing a protective barrier for humans from contacting diseases from their animals who are more likely to come into contact with wildlife. These factors are fostering the veterinary health product market. However, side effects of vaccine and high cost of veterinary health product may hinder the market growth. In spite of that, the necessity of vaccines and their development are expected to supplement the growth of the veterinary healthcare market. Emerging countries are expected to generate new market opportunities over the forecast period.
Regional Analysis –
North America is expected to dominate the global veterinary health product market within the forecast period owing to the high expenditure on the animal healthcare in Canada and U.S. Rapidly growing pet insurance like insurance policies related to dogs. According to North American Pet Health Insurance Association, dogs accounted for 83.0% of insurance premiums while cats accounted for the remaining 17.0% in 2014. Europe is followed by North America. Europe is lading in modern veterinary medicine and animal health product companies. For example, Europe created an annual turnover of approximately 6 billion Euros. Moreover, Europe records for second largest market due to animal favoured government policies and tax benefits for pet animals. Asia Pacific is the emerging market of veterinary health product market due to the growing private veterinary clinics and awareness among people regarding animal welfare in this region.
Veterinary Health Products Market Segmentation:–
By Product Type: -Animal Pharmaceutical Products, Vaccines, Performance Enhancers, Feed Additives
By Industry:- Pet, Livestock, Poultry
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