Animal Healthcar Market forecast to grow at 4% CAGR from 2017 to 2024: Global Market Insights Inc. The medical industry report “Animal Healthcare Market Size By Pharmaceuticals (Ectoparasiticides, Endoparasiticides, Anti-inflammatories, Anti-infectives), By Vaccines (Poultry, Cattle, Swine, Equine, Dogs, Cats, Horses), By Medicated Feed Additives( Antibiotics, Vitamins, Amino acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals), By Animal Type ( Farm Animal And Companion Animal), Regional Outlook (U.S., Canada, Germany, UK, Spain, Italy, France, Poland, Netherlands, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Technology Development, Competitive Landscape & Forecast, 2017 – 2024”, by Global Market Insights, Inc. says Animal Healthcare Market size to exceed USD 36 billion by 2024. Increasing prevalence of animal diseases coupled with growing adoption of pet animals should drive the global animal healthcare market size. Rising disposable income of pet owners especially in developed regions will enable them to spend on pet healthcare leading to exponential animal healthcare market growth.
Increasing demand for animal source protein and animal healthcare products will escalate over the forecast years. With global population expanding at an alarming rate, the demand for animal source protein and animal healthcare products will only increase, resulting to more animal farming over the forecast timeframe. Favorable government initiatives to promote animal healthcare practices and rapid developments in the field of animal health medicine will serve as a high impact rendering factor over the forecast years. Stringent regulations in many countries pertaining to use of antibiotics and antimicrobials in animal feed, high cost associated with animal testing and low outof-pocket pet healthcare expenditure in developing countries will restrain the market growth over the coming years. Animal parasiticides should witness high growth over the coming years owing to rising awareness about parasites and their ill-effects on animal and human health. Increasing use of parasiticides in growing number of farm and companion animals should drive the business growth.
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