Global Animal Healthcare Market Size, Share, Development, Growth and Demand Forecast to 2022

The global animal healthcare market is expected to grow from $29,537.4 million, at a CAGR of 7.0% during 2016-2022. Among the various products, the pharmaceuticals segment including, ectoparasiticides, endoparasiticides, anti-inflammatories and others accounted for largest share in the global animal healthcare market in 2015.

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The increasing transfer of diseases from animals to humans, through companionship and consumption of products sourced from them, are driving the demand of the global animal healthcare market. Legislations and protest of animal institutions and activists, and excess use of antibiotics in production animals are some of the factors restraining the growth of the animal healthcare market.

According to the Food and Agriculture Organization (FAO) of the United Nations, the global meat production is expected to grow from 272.2 million tons in 2015, to 341.1 million tons by 2030. Meat production is expected to reach 224.1 million tons by 2030 in the developing countries, such as Brazil, India, and China.

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To find enhanced solutions for the prevailing and new diseases, the companies in the animal healthcare market are active in research and development activities. Porcine epidemic diarrhea virus (PEDV), which is caused by corona virus, leads to infection in the cell lining within the small intestine of pigs.

Some of the major companies operating in the global animal healthcare market include Zoetis, Merck, Merial, Bayer, Virbac, Ceva Sante Animal S.A., Boehringer Ingelheim GmbH, Elanco, and Vetoquinol.

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