Animal Healthcare Market: Asia Pacific region shows big opportunity
in the market, 2019
Persistence Market Research
Global Animal Healthcare Market to Expand
at 7.1% CAGR - Persistence Market
Research
Persistence Market Research
1
Animal Healthcare Market: Asia Pacific region shows big opportunity
in the market, 2019
Persistence Market Research Released New Market Report “Global Market Study on Animal
Healthcare: Feed Additives to Witness Highest Growth by 2019,” the global animal
healthcare market was valued at USD 27,861.2 million in 2013 and is expected to grow at a
CAGR of 7.1% from 2014 to 2019, to reach an estimated value of USD 41,929.1 million in
2019.
Increasing population of companion and production animals is driving the global animal
healthcare market. The animals that serve man by giving companionship and guarding their
houses/offices are termed as companion animals, while those animals which serve mankind
with their meat and milk and fur are called production animals.
The new types of diseases in animals and their transfer to humans via their product
consumption and companionship are escalating the animal healthcare market globally.
However, some challenges in the form of regulations have emerged against the excess use
of antibiotics in production animals, and legislations and protest of animal activists and
institutions against animal research.
The animal healthcare market is very competitive with the top ten players accounting for
about three-fourth of the market.
The companies are focusing on their research and
development activities to produce better pharmaceutical and vaccine products for the
existing and newly diagnosed diseases.
Increasing per-capita income level, changing lifestyle, and growing population has increased
global meat consumption. The number of animal farms is also increasing globally due to
increasing demand for protein rich food such as...