The animal health market is estimated to represent a global market of USD 46.9 billion by 2019 with growth rate of 5.2%.

Animal health related products covers feed additives, pharmaceuticals and vaccines which contribute significantly to the health and well-being of food producing and companion animals. Technology improvements in animal health sector of the food chain, such as farming techniques, medicine processing and development is considered to be the potential growth factor of the market. This growing animal health industry experiences the intersection of two important areas that affect the lives of global population which is companion animal care and livestock production.

In terms of products, the market is categorized as Feed Additives, Pharmaceuticals and Vaccines. Advancements in the field of feed additives in terms of metabolic modifiers, enzymes, minerals, and probiotics helped this segment to capture large share of the market. Pharmaceuticals is considered to be the second largest market and is anticipated to grow with highest CAGR.

COVID-19 Impact & Recovery Analysis
The proposed report from AnalystView Market Insights suggests three possible forecast scenarios (probable, optimistic, and pessimistic) considering the COVID-19 impact. Our ongoing research analysis amplifies our framework to ensure the inclusion of underlying COVID-19 crisis impact and potential paths forward. The designed report is delivering detailed insights on COVID-19 considering the changes in consumer demand, purchasing patterns, re-routing of the supply chain, and the significant interventions of governments. The updated study provides insights, and forecast, considering the COVID-19 impact on the market.

Animal types segment is divided into production animal and companion animal. Production animal held largest market share, i.e. USD 25.6 billion in 2016 and is projected to dominate the market share during the forecast period. Animal health products is required to grand a marketing authorization before commercialization (referred as “registration”). It is required to ensure safety, efficacy and quality of the animal products through a regulatory review. Strict guidelines for this regulatory review is expected to hamper the market growth to some extent.

Developed regions such as North America and Europe contributed largest share, representing 65.8% of its global counterpart. Increasing government and non-government initiatives in favor of animal health related products drives the market in developed regions. For example, IFAH (International Federation for Animal Health) Europe is the organization primarily engaged in research, development and manufacturing of animal medicines, vaccines and health related products. Presence of these types of organizations in Europe supports the growth of regional market to great extent.

Key Companies studied under the report scope are: Elanco, Virbac, Nutreco N.V., Ceva Sante Animale, Bayer AG, Merck & Co. AG, and others. The market is highly competitive in nature and a considerable number of players, which have a high level of dominance over the overall revenue share. Market players are engaged in extensive research for the development of cost efficient and highly technologically advanced animal health products. Introduction of such efficient products are expected to provide this market with lucrative growth opportunities.

The market size and forecast for each segment has been provided for the period 2016 to 2027, considering 2019 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2021 to 2027 for every reported segment.

The years considered for the study are:

Historical Year – 2016 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2027

The proposed reports analyse and evaluates the COVID-19 impact, and anticipated change on the future market scenario on this industry, by taking into the account the economic, political, technological, and social, parameters.
The scope of this report covers the market by its major segments, which include as follows:

GLOBAL ANIMAL HEALTH MARKET,BY PRODUCTS
Feed Additives
Pharmaceuticals
Vaccines

GLOBAL ANIMAL HEALTH MARKET, BY ANIMAL TYPES
Production
Companion

GLOBAL ANIMAL HEALTH MARKET,BY REGION
North America
Europe
Asia Pacific
Middle East and Africa
Latin America