Description

The global animal healthcare market size valued US$ 31.3 billion in 2020 and projected to expand at CAGR of 6.0% during forecast period 2021 to 2027. Animals have become an essential part of human life and practice of pastoralism has become routine in many agrarian societies across the globe. Animal healthcare considered an essential part of livestock and companion animal disease management. The fundamental of animal healthcare is to minimize pain, injury, and disease by means of prevention, diagnosis, and treatment. Animal healthcare has become an essential part of herd management in order to avoid loss of animal due to diseases. Animals have long been considered as the source of food for the human being and it’s been shifting towards companionship to the humans. As there is a growing interaction between humans and animals prompting the key stakeholders to give attention for animal healthcare. The animal healthcare products is competitive with several local and multinational key players. Multinational animal healthcare products marketers’ holds a significant share with diverse product offerings. A market is consolidating as large players complementing each other’s businesses by means of mergers and acquisitions. For instance, in June 2016, Sanofi swapped animal health business (“Merial”) with Boehringer Ingelheim’s consumer healthcare (CHC) business, this helped both organizations to better align the future growth objectives. Moreover, players in the animal healthcare market coming up product innovation to garner larger share. In 2014, Merial launched NextGaurd form a soy-based chew with an irresistible beef flavour for flea and tick control in dogs.

 

 

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX