Animal Pharmaceutical 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.
A compound manufactured for use as a medicinal drug for animals. The medical science concerned with the diagnosis, treatment and prevention of diseases in animals.
The global animal pharmaceuticals market is being driven by rising milk and meat consumption, the rising trend of pet adoption, and the rising prevalence of foodborne and zoonotic illnesses. Animals are adopted for companionship or as a house or workplace security, which has made animals an essential aspect of human existence in our day.
Therefore it’s necessary to look after their well-being and health. As a result, the deeper bond between humans and animals and the rising demand for pets are all driving the animal pharmaceuticals industry forward. In addition, as the economies are growing, governments and pharmaceutical firms are investing in animal healthcare, creating new opportunities for the market ahead.
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Key themes affecting the animal pharmaceuticals market:
Many animal health companies, from multinationals to start-ups, are focusing on developing new pet drugs. Zoetis has shown recently there is demand for new pet treatments in dermatology and this has stimulated increased research and development in pet health (pain, cancer, allergies, anxiety etc). Spending on pets is increasing in developed markets and China as well. As well as internal R&D, animal health companies are licensing technologies from the human pharma sector and trying to translate this innovation to pets. One key area of innovation is monoclonal antibodies (mAbs). In human pharmaceuticals, most top-selling drugs are mAbs. In animal health, there is only one mAb on sale. Companies such as Zoetis, Kindred Biosciences and PetMedix are now aiming to bring more mAbs to animal health.
Key Players in the Global Animal Pharmaceutical Market Covered: Zoetis Inc.,Merck & Co., Inc.,Elanco,Koninklijke DSM N.V.,Ceva Sante Animale,Virbac S.A.,Novartis AG,Bayer AG,SeQuent Scientific Ltd.,Sanofi S.A.,Eli Lilly and Company,Cargill, Inc.,Perrigo Company plc,Merck & Co. Inc.,Nutreco N.V.,Vetoquinol S.A.,Boehringer Ingelheim GmbH
On the basis of types, the Animal Pharmaceutical market from 2015 to 2025 is primarily split into:
- Infectious Diseases
- Dermatological Diseases (Skin Diseases)
- Orthopedic Diseases
- Behavioral Disorders
- Pain
- Dental Diseases
- Parasitology
- Others
On the basis of applications, the Animal Pharmaceutical market from 2015 to 2025 covers:
- Dogs
- Cats
- Horses
- Other Animals
Overview of the regional outlook of the Animal Pharmaceutical Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
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- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Animal Pharmaceutical Market
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