Global Animal Pharmaceuticals Market (Size of $12,614.3 Million in 2015) to Witness 7.7% CAGR During 2016 – 2022

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Global Animal Pharmaceuticals Market (Size of
12,614.3 Million in 2015) to Witness 7.7 CAGR
During 2016 2022
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Animal Pharmaceuticals Market
The global animal pharmaceuticals market was
valued at 12,614.3 million in 2015, and it is
expected to grow at a CAGR of 7.7 during 2016 -
2022. The growth of the global market is largely
driven by increasing consumption of meat and
milk, and increasing zoonotic and food borne
diseases. Due to growing health concern of
related animals and their increasing number, the
healthcare expenses in farms are surging
globally. Animal farms are increasing globally,
due to growing demand for protein rich foods,
such as milk, eggs and meat. Increasing trend of
pet adoption is another key factor driving the
growth of the global market. The declining
research and development productivity and growth
of generic and OTC drugs for animal care are the
key trend witnessed in the global market. The
declining research and development productivity
is leading to the maturity of animal
pharmaceutical product portfolio. The fewer new
chemical entity approvals are limiting the
opportunities for key manufacturers to expand
their portfolio in animal pharmaceuticals market.
The low productivity of research and development
increases the competition among the key
manufacturers. Explore Report Description with
Detailed TOC at https//www.psmarketresearch.com/
market-analysis/animal-pharmaceuticals-market
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Animal Pharmaceuticals Market
Among the different types of animal
pharmaceutical products, the ectoparasiticides
generated largest revenue in the global animal
pharmaceuticals market in 2015. High prevalence
of animals affected with ectoparasites is the key
factor driving the growth of the
ectoparasiticides market. The bronchodilators
market would witness fastest growth during the
forecast period. North America accounted for the
largest share in the global market in 2015, owing
to the large consumption of meat and milk
products. The high level of urbanization leading
to high standard of living is the key reason for
large consumption of meat and milk products in
North America. The U.S. contributed largest
revenue to the North American as well as global
animal pharmaceuticals market.
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Animal Pharmaceuticals Market
The information and data in the publication
Global Animal Pharmaceuticals Market Size,
Share, Development, Growth and Demand Forecast to
2022, represents the research and analysis of
data from various primary and secondary sources.
An amalgamation of bottom-up and top-down has
been used to calculate the market size. PS
Market Research analysts and consultants
interacted with leading companies of the
concerned domain to substantiate every value of
data presented in the report. The company bases
its primary research on discussions with
prominent professionals and analysts in the
industry, which is followed by informed and
detailed, online and offline research. Based on
animal type, the largest revenue was generated
from the sales of animal pharmaceuticals for
companion animals in 2015. Whereas, the animal
pharmaceuticals market for production animals
would witness faster growth during the forecast
period. Increasing awareness regarding the
livestock related diseases is the key reason
behind the higher growth of the animal
pharmaceuticals market for production
animals. Some of the key players operating in the
global market include Merck Co. Inc.,
Vetoquinol S.A., Zoetis Inc., Virbac SA,
Boehringer Ingelheim GmbH, Perrigo Company plc,
Eli Lilly and Company, Sanofi and Bayer AG.
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Animal Pharmaceuticals Market
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nimal-pharmaceuticals-market/report-sample
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