Demand For Animal Healthcare Market To Soar From End-use Industries And Push Revenues In The Market

11/feb/2020 12:28:20 persistencemarketresearch Contatta l'autore

Questo comunicato è stato pubblicato più di 3 mesi fa. Le informazioni su questa pagina potrebbero non essere attendibili.

A significant increase in animal farming has led to a rise in demand for animal health services for improvement of food safety systems and veterinary public health in order to safeguard human health. The adoption of animal healthcare services is highly dependent on the fiscal, political, and institutional factors of the country.

In order to increase the adoption of animal health services, governments directly take part by increasing awareness among the general population regarding animal diseases and privatization of animal healthcare services.

One such scheme in Europe is Livestock Insurance, which was implemented to increase the effectiveness and efficiency of animal healthcare systems. Another case that can be considered is of the UK government compensating direct loses incurring owing to the outbreaks from the EU compensation schemes and the UK national budget.

To Remain 'Ahead' Of Your Competitors, Request for a Sample Here @  https://www.persistencemarketresearch.com/samples/2882

Animal healthcare providers on the other hand are leveling up the game with the implementation of various strategies. Manufacturers are focused on developing new products to increase the acceptance of Animal Healthcare, thus expecting to increase their respective market shares.

The companies are focusing on outsourcing the manufacturing of animal healthcare products in order to reduce their manufacturing costs and also compete in the market with reduced prices. Some of the leading companies operating in the global  animal healthcare market  are Bayer AG, Boehringer Ingelheim GmbH, Virbac SA, Zoetis, Inc., Hester Biosciences Ltd., and Intas Pharmaceuticals Ltd.

According to a report published by Persistence Market Research (PMR), the global animal healthcare market is expected to witness a  CAGR of 4.8%  from 2017 to 2025. In 2017, the market was worth  US $ 30,744.2 Mn  and is estimated to rise to a  valuation of US $ 44,847.2 Mn by the end of 2025.

Rising Prevalence of Contagious Diseases to Accelerate Adoption of Animal Healthcare

Animals are more susceptible to a wide range of contagious diseases such as peste des petits ruminants, foot-and-mouth disease, bovine pleuropneumonia, Newcastle disease, classical and African swine fever, and influenza (particularly equine and avian influenza), among others, through direct or indirect contact.

Peste des petits ruminants (PPR) or goat plague is highly contagious disease that generally affects small ruminants. According to the Food and Agricultural Organization, PPR virus can infect up to 90% of small ruminant population and can even result in deaths of 30–70% of the animal population.

The continuous outbreaks of contagious diseases can severely impact the production of livestock, resulting in direct & indirect economic losses. Besides, significant resources are required to control the disease outbreak.

Owing to the aforesaid reasons, the government organizations along with public organizations have shared financial resources to prevent and control the contagious disease in livestock animals and it is expected to fuel the growth of the global animal healthcare market during the forecast period.

For Critical Insights On The Animal Healthcare Market, Request For Customization Here @ https://www.persistencemarketresearch.com/request-customization/2882

Use of Counterfeit Medicines to Hinder Market Growth

Mounting concerns over the provision of illicit drugs in developing and under-developed countries are expected to restrain the growth of animal healthcare market. Illegal drugs are unregistered and falsified, counterfeit products, and unapproved parallel imports.

This also includes illegal autogenous vaccines and compounded pharmaceuticals. These products are not manufactured or used appropriately in accordance with regulations. The risk of illegal medicines is not only due to lack of efficacy and safety of animals but they also affect the sale of approved drugs.

Use of counterfeit medicines for animal health, which are usually cheap and of low quality, has a strong negative impact on the branded drugs market. Trend of counterfeit medicines is more commonly seen in under-developed and developing countries and as a result, the demand for the approved medicines witness a decline.

 For In-Depth Competitive Analysis, Buy Now @ https://www.persistencemarketresearch.com/checkout/2882

Company Profile

  • Bayer AG
  • Alivira Animal Health Limited
  • Vetoquinol SA
  • Zydus Animal Health
  • Norbrook Laboratories Limited
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC Norbrook Laboratories, Inc
  • Boehringer Ingelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd.
  • overview
  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animal
  • Others
blog comments powered by Disqus
Comunicati.net è un servizio offerto da Factotum Srl