Animal Healthcare Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

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Animal Healthcare Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

Status : May, 2021 | Medical Devices

Report Digest

Global Animal Healthcare Market: Overview

The demand within the global animal healthcare market is set to touch new heights in the years to follow. The quest of the medical industry to engulf animal-care services in its ambit of operation has created new opportunities for market growth. The growing investments of central and state bodies in animal care and veterinary treatments has emerged as an integral driver of demand across this market. Animal healthcare has also gained traction from leading agencies that support animal welfare. The quest of environmentalists and activists to create safe spaces and shelters for animals has become a visible trend. The aforementioned factors have played an integral role in generating revenues within the global animal healthcare market.

In this review, TMR Research uncovers a range of factors that have aided the growth of the global animal healthcare market. There has been a steady rise in revenues across this market, mainly due to the establishment of several animal-care organizations. Several people have joined hands with these organizations to vouch for the rights of animals. Besides, the support gained from several governments in protecting pets from brutality has also given a push to market growth.

Global Animal Healthcare Market: Notable Developments

  • The recent surge in demand for animal vaccines has led market players to develop their dedicated research facilities. Several people prefer to get their pets vaccinated to steer clear of communicable diseases. Market vendors are capitalising on these trends to develop annual or bi-annual vaccines and drugs for pets. The development of new vaccines could generate fresh revenues for the vendors operating in the animal healthcare market.
  • The COVID-19 pandemic is largely believed to have come from animals, although research is still underway. This has generated a sense of alarm and information amongst the masses. People have become more particular about getting their pet vaccinated, and several countries are looking at amending laws pertaining to animal care.

Key Players

  • Elanco
  • Dechra Pharmaceuticals
  • Merck
  • Zoetis
  • Medtronic
  • B. Braun Vet Care
  • IDEXX Laboratories

Global Animal Healthcare Market: Growth Divers

  • Growing Propensity to Adopt Pets

The rising rate of pet-adoption has put pressure on the field of veterinary care. Vets are required to cater to the changing demand of pet-owners who want to ensure the highest health standards for their furry animals. ‘Adoption’ of wild animals has also become a prominent trend wherein people fund the care and nourishment of the animals at sanctuaries instead of keeping them at home. This has emerged as a crucial dynamic of growth across the global animal healthcare market. The next few years could witness a surge in the number of products manufactured for animal healthcare.

  • Efforts of Animals Rights Activists

The quest of animal rights activists to persuade governments and state authorities to stipulate strict laws for animal-care has aided market maturity. Agitations against animal brutality have become more prominent, especially in the western parts of the world. A number of people consider their pets to be a part of their family. This leads them to spend a large part of their income on the grooming and care needs of these animals. The domain of veterinary care has made several classifications to deal with the changing needs of animal healthcare. The next few years could witness a surge in the number of vaccines developed for animal care.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?