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Animal Healthcare Market to open USD 42,407.5 Million opportunity globally, expanding at a CAGR of 6.4%

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Research Nester has recently announced its latest research on “Animal Healthcare Market : Global Demand Analysis & Opportunity Outlook 2023”, after studying the market situation and anticipating the future trends, the research provides a concrete platform for the existing and new players looking to enter into the market. The study provides information about market scenario of forecast period by analyzing the current situation.

Animal healthcare market has emerged as a market of very prime importance in the world in past few years. The main reason behind increased focus on animal healthcare industry can be attributed to the outbreak of new animal diseases in recent years. In addition to that, changes in factory farming practices for bulk production, which requires good quality animal feed additives, hygiene management products and vaccines etc. have allowed the animal healthcare market to expand.

Geographically, animal healthcare market is segmented into North America, Latin America, Europe, Asia Pacific, Africa and Middle East. In 2014, North America dominates the animal healthcare market with around 35 percent of market share followed by Europe at 28%. Emerging markets like Asia – Pacific is anticipated to have a rapid growth in animal healthcare market by 2020. This burgeoned growth in animal healthcare market in countries like Asia and China can be attributed to the increased trend of adopting pet animals in these countries. The animal healthcare market of India is estimated to have a fastest growth at around 10% CAGR by 2020.

North America is the leader of animal healthcare market in the world and touched USD 6,800 million in 2014. Further, it is anticipated that the veterinary market in North America will escalate at a CAGR of around 6% during 2015-2020. Increasing awareness about animal related diseases and rising demand for safer animal related products have fuelled the animal healthcare market of North America in recent times.

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