Animal Healthcare Market size forecast to reach $45bn by 2024

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Animal Healthcare Market size forecast to grow
over 7 CAGR from 2016 to 2024 and reach over USD
45 billion Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Regional Analysis of Animal Healthcare Market

• U.S. animal healthcare market size contributed to
  majority of North American industry in 2015, and
  is anticipated to increase its share owing to
  increased adoption of companion animals and
  growing consumer focus on their health and feed
  additives. Increasing importance of livestock
  animals will further accelerate the market
  growth.
• UK contributed to majority of Europe animal
  healthcare market share in 2015. It was due to
  increase in the zoonotic diseases such as avian
  influenza, anthrax, tularemia among others.
• Germany veterinary health care market is the
  second largest in Europe. This has been due to
  the increased spending on vaccinations by the pet
  owners. The pharmaceuticals are anticipated to
  account for majority of Germany revenue share.

3
Application Analysis of Animal Healthcare Market

• Pets such as cats and dogs are adopted for
  various therapeutic and psychological benefits.
• Adoption of pet animals has increased in the
  developing countries such as China and India due
  increased imitation of western culture and other
  lifestyle changes.
• With the increase in pet population, animal bite
  cases have gone up, leading to increased chance
  of disease transmission to human population. This
  concern is acted upon by the regulatory
  authorities and the effect is expected to drive
  industry growth.
• Animal feed additives market can be further
  segmented into nutritional and medicinal
  additives. Nutritional products include vitamins,
  minerals and amino acids.

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Competitive Market Share of Animal Healthcare
Market

• Major players in global animal healthcare market
  share include Merck Co. Inc., Zoetis
  Inc.,Boehringer Ingelheim GmbH., Elanco Products
  Company., Bayer AG, MERIAL Limited, Novartis
  Animal Health Inc. Virbac SA. Ceva Sante
  Animale., Vetoquinol SA.
• Major strategies include strategic collaborations
  such as merger and acquisitions, contracts, RD
  investment to consolidate market share.

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