The market is greatly propelled by a proficient increase in demand for protein food and food-borne diseases around the globe. This unprecedented rise in demand prevalence has triggered companies to introduce improved vaccines and pharmaceuticals. The high demand has also resulted in a subsequent augment in the number of companies undertaking consistent efforts to control pathogen contamination risks and food-borne diseases, which is underwriting to market growth. Additionally, the increasing number of government initiatives to encourage animal health products is presumed to propel the complete market.
According to the UN Department of Economic and Social Affairs, the universal population is nearly 7 billion and it is predicted to reach nearly 10 billion by 2050, of which, 795 million individuals are undernourished, as per the predictions of the International Fund for Agricultural Development (IFAD). The above-cited statistics exemplify the urgent demand the enlarge the food supply through the large-scale implementation of livestock.
According to SPER market research, ‘Global Animal Medicine Market - By Type of Animal, By Type, By Type of Prescription, By Route of Administration, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ states that the global animal medicine market is predicted to reach USD 54.97 billion by 2030 with a CAGR of 7.1%.
The heightened production of animal-based food products will lead to a proficient price deduction, facilitating easy admittance to food at economical prices. The market for animal health is also fostered by technological innovations in veterinary health care, and this is predicted to propose future growth choices. These establishments involve the advent of proficient information management systems, animal owner mobile technology, and vaccine banks. Increasing aim on innovation in animal health has carried increase to certain measures that are strengthening market growth prospects.
According to Food and Agriculture Organization, in emerging regions, animal-based food products account for one-third of human protein ingesting, leading to an augment in livestock efficiency, which is critical to encounter the dietary needs of the increasing human population. These aspects cumulatively are accountable for the proficient share seized by production animals in this segment. The companion animal segment is predicted to grow profitably during the forecast period due to an augment in demand for proficient animal care and the pet-human bond owing to the linked health benefits. Companion animals are better known to lower blood pressure, deliver psychological stability, and decrease the frequency of cardiac arrhythmias and anxiety attacks, which improve the complete well-being of humans. Consequentially, animal-assisted therapy is progressively preferred as a result of these companion animal products, which, in turn, is probably to drive the segment during the coming years.
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North America registered the market for animal health and registered for the greatest revenue share in the review period, due to the broad variety of definite measures implemented by government animal welfare organizations that are consistently functioning for complete advancement in animal health. Different collaborative efforts by foremost companies to develop their research and development capabilities and confirm high quality standards are predicted to impel the requirement further around this economy.
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The Animal Medicine Global Market Report 2020-30 by The Business Research Company describes and explains the global animal medicine market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Animal Medicine Global Market Report 2021 covers animal medicine market drivers, animal medicine market trends, animal medicine market segments, animal medicine market growth rate, animal medicine market major players, and animal medicine market size.The animal medicine market report provides an in-depth analysis of the impact of COVID-19 on the global animal medicine industry, along with revised market numbers due to the effects of the coronavirus and the expected animal medicine market growth numbers 2021-2030.View Complete Report: https://www.thebusinessresearchcompany.com/report/animal-medicine-marketAnimal Medicine Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.The global animal medicine market reached a value of nearly $42.46 billion in 2019, having grown at a compound annual growth rate (CAGR) of 4.8% since 2015, and is expected to grow at a CAGR of 6.53% to nearly $54.69 billion by 2023.Also the market is expected to growth to $62.00 billion in 2025 at a CAGR of 6.48% and to $85.05 billion in 2030 at a CAGR of 6.53%.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=1980=smpThe report covers the animal medicine market’s segments- 1) By Type of Medicine: Veterinary Pharmaceuticals, Feed Additives2) By Type Of Pharmaceutical: Veterinary Parasiticides, Veterinary Vaccines, Veterinary Antibiotics, Others.3) By Type Of Additive: Antibiotics, Amino Acids And Antioxidants, Vitamins, Acidifiers, Enzymes, Others4) By Type of Animal: Cattle (Dairy And Meat Purposes), Poultry, Other Farm Animals, Dogs And Cats, Other Companion Animals5) By Drug Type: Branded, Generic6) By Type of Prescription: OTC, Prescription7) By Route of Administration: Oral, Intravenous, Subcutaneous, Others8) By Distribution Channel: Vet Services, Online, Others9) By Level Of Regulation: Highly Regulated Countries, Loosely Regulated CountriesAbout The Business Research Company: The Business Research Company is a market intelligence firm that excels in company, market, and consumer research.
Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
It has offices in the UK, the US and India and a network of trained researchers in 20+ countries globally.
Apr 02, 2019 (Heraldkeeper via COMTEX) -- Market Analysis:
With growing concern on Animal Nutrition, the feed yeast market is growing at an incremental pace of development on the global stage.
In addition to the increasing adoption of pet animals, growing awareness about the livestock health, rising concern on animal nutrition leading to growing demand for healthy meat and other livestock products and increasing compound feed consumption is expected to drive the feed yeast market.
Also, increased awareness of feed yeast due to regulations on antibiotic growth promoters, strong performance of livestock market along with low cost of feed yeast will result in surge in demand of feed yeast.
However, stringent regulatory framework for the livestock feed products, limited awareness and product availability in undeveloped regions, and environmental concern such as storage conditions will restrict the market growth.
The market players are responding to these new opportunities by expanding their service offerings/product lines, which has fueled up the share of feed yeast in the global market.
