Animal Healthcare Market to grow at 4% CAGR from 2016 to 2024

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Animal Healthcare Market forecast to reach 45bn
by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Animal Healthcare Market

• Global Market Insights, Inc. says Animal
  Healthcare Market size to exceed USD 36 billion
  by 2024.
• Increasing prevalence of animal diseases coupled
  with growing adoption of pet animals should drive
  the global animal healthcare market size.
• Rising disposable income of pet owners especially
  in developed regions will enable them to spend on
  pet healthcare leading to exponential animal
  healthcare market growth.
• With global population expanding at an alarming
  rate, the demand for animal source protein and
  animal healthcare products will only increase,
  resulting to more animal farming over the
  forecast timeframe.
• Favorable government initiatives to promote
  animal healthcare practices and rapid
  developments in the field of animal health
  medicine will serve as a high impact rendering
  factor over the forecast years.

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Continued...

• Stringent regulations in many countries
  pertaining to use of antibiotics and
  antimicrobials in animal feed, high cost
  associated with animal testing and low
  out-of-pocket pet healthcare expenditure in
  developing countries will restrain the market
  growth over the coming years.
• Animal parasiticides should witness high growth
  over the coming years owing to rising awareness
  about parasites and their ill-effects on animal
  and human health.
• Increasing use of parasiticides in growing number
  of farm and companion animals should drive the
  business growth.
• Medicated feed additives should witness robust
  growth over the forecast years.
• U.S. animal healthcare market held largest
  regional market share in 2016, owing to rising
  number of pet animals, high disposable incomes of
  pet owners, escalated awareness about animal
  health, availability of advanced medicines and
  presence of large number of established companies.

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Continued...

• France animal healthcare market held largest
  regional share in 2016. Increasing demand for
  anti-infectives and endoparacitisides for
  prevention of zoonotic diseases should stimulate
  business growth.
• Some of the leading industry players include
  Zoetis, Merck, Elanco, Bayer, Boehringer
  Ingelheim, Virbac, Phirbo Animal Health, Ceva
  Sante Animale, and Vetoquinol.
• Merger and acquisition, new product development
  and geographical expansion are some of the
  strategies adopted by industry participants to
  gain market share.

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Europe Animal Healthcare Market, 2013-2024 (USD
Million)

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