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The global veterinary healthcare market size estimated to be valued US$ 37.4 Bn in 2020 at CAGR of 4.9% and expected to reach US$ 49.3 Bn by 2026 due to increased adoption of companion animals in emerging and developed countries and rising consumption of meat across the globe. The rising adoption of companion animals in emerging countries and increasing consumption of meat for dietary needs expected to fuel the market for animal healthcare products over the forecast period. Apart from aforementioned dynamics, factors like increased instances of disease outbreaks in animals, and large-scale production of animals in the form of factory farming expected to boost the animal healthcare market. Animals have long been considered as a 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 to animal healthcare. The rising incidences of zoonotic disease in several developed and developing countries expected to create demand for animal healthcare products like drugs and vaccines over the forecast period. According to U.S. Centre for disease control and Prevention (CDC) every year tens of thousands of people get sick due to disease spread from animals to humans and it is believed that more than six out of every 10 known infectious diseases in people are spread from animals, and three out of every four new or emerging infectious diseases in people are spread from animals, which can be prevented by appropriate health care to animals. In addition, This report includes animal demographics; regulatory scenario, top meat-producing countries, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed veterinary healthcare market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
