Animal Healthcare focuses on effective animal health management through the diagnosis and treatment of various diseases in animals. The global animal healthcare market is estimated to account for US$ 61,168.31 Mn in terms of value by the end of 2027.
Over the projected period, rising consumption of meat, milk, and other animal byproducts is predicted to propel the global animal healthcare market forward. The USDA's National Agricultural Statistics Service (NASS) predicted November 2019 milk output in the United States at 17.440 billion pounds, up 0.5 percent from November 2018.
Furthermore, the rising frequency of foodborne and zoonotic illnesses is likely to drive market expansion. Salmonella infection (salmonellosis) causes around 1.2 million illnesses and 450 fatalities yearly in the United States, according to a May 2019 study from the Centers for Disease Control and Prevention (CDC), and there were 18 recorded outbreaks in 2018, 15 of which were connected to food.
Animal Healthcare market is expected to increase as the frequency of zoonotic illnesses rises, as well as the expansion of e-commerce platforms that promote online pharmacies. On account of multiple benefits such as convenience and decreased pricing for purchased pharmaceuticals, several developed countries across the world are serving as a focal point for the rise of high adoption of online pharmacies. Market expansion will be achieved by investing in research and development (R&D) operations to generate superior product offerings and acceptance of sophisticated technologies by major players in order to alter the animal healthcare industry.
Animal Healthcare Market: Restraints
The worldwide animal healthcare industry is likely to be hampered by a lack of zoonotic disease surveillance and diagnostics in emerging nations.
Furthermore, the market's expansion is projected to be limited by strict laws governing the use of antibiotics in animal feed. For example, in the United States, Senate Bill 27—also known as SB 27—aims to reduce the use of antibiotics in animals by prohibiting their use "solely for the purpose of boosting weight gain or enhancing feed efficiency."
Animal Healthcare Market Trends-
Beef exports in the United States have decreased, which is projected to stifle market growth. According to the USDA's National Agricultural Statistics Service (NASS), beef exports from the United States reached 245 million pounds in November 2019, down 21 million pounds from November 2018.
Because of rising milk output, Asia Pacific is likely to see considerable market expansion. According to the UN's Food and Agriculture Organization (FAO), India produced 186 million tonnes of milk in 2018, accounting for 22% of the global total milk output of 843 million tonnes that year.
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