The animal pharmaceuticals market was valued USD45.23 billion in 2020 and is likely to grow with a steady CAGR of 7.05% in the forecast period to reach USD68.45 billion by 2026 due to the increase in pet adoption, rise in overall consumption of milk and meat, and fatal diseases like Ebola and swine flu spreading from animals. Animal pharmaceuticals are highly beneficial in the diagnosis and treatment of animal disorders. The emergence of new economies has led more governments and pharma companies to fund animal healthcare, consequently pushing the market forward. The restraining factors for the market can be the government rules regarding animal testing, and the probability of the sales of fake medicines across e-commerce platforms.
The global
The overall animal pharmaceuticals market is widespread, expanding itself to various regions including Asia-Pacific, Europe, North America, South America, and Middle East & Africa. North America has the largest market share by virtue of the pre-existing
The top leading players of the animal pharmaceuticals market are Zoetis Inc, Merck and Company, Vetoquinol SA, Virbac SA, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc, Ceva Sante Animale S.A., Covetrus Inc., Phibro Animal Health Corporation, Biogénesis Bagó SA, Neogen Corporation Ltd., Dechra Pharmaceuticals PLC, ImmuCell Corporation, Krka, tovarna zdravil, d. d., Novo mesto, and ECO Animal Health Ltd., etc. The inter-company competition keeps on increasing parallelly with the market which in turn leads to innovations in technology, thus enhancing the animal healthcare sector.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026F
Objective of the Study
- To analyze the historical growth in the market size of the global animal pharmaceuticals market from 2016 to 2020.
- To estimate and forecast the market size of the global animal pharmaceuticals market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the global animal pharmaceuticals market based on product type, animal type, route of administration, type of infection, end user, distribution channel and region.
- To identify drivers and challenges for the global animal pharmaceuticals market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global animal pharmaceuticals market.
- To conduct pricing analysis for the global animal pharmaceuticals market.
- To identify and analyze the profile of leading players operating in the global animal pharmaceuticals market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of service providers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research was able to include the service providers which could not be identified due to the limitations of secondary research. Market insights research analyzed the service providers, distribution channels and presence of all major players across the globe.
Market insights research calculated the market size of the
Key Target Audience
- Animal healthcare centers, vets
- Research organizations and consulting companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to animal pharmaceuticals
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as
