Global Animal Health Market is expected to grow at a decent rate of 4% to reach $49 billion by 2026

Animal health is a medical disciple that emphasizes the prevention, detection, control, and therapeutics associated with veterinary diseases, disorders, and injuries. It covers a broad spectrum of animal species, including the domesticated and wild, with an extensive range of conditions that affect several species. It involves taking care of animals with the appropriate use of vaccines, anti-infective and anti-parasitic drugs, pharmaceutical specialty products, performance technologies, and value-added programs, such as livestock data management tools.

Technological Innovations in Animal Health Market

Scientific advancements, innovations, and emerging technologies from artificial intelligence to stem cell therapy and new generations of vaccines, have provided greater opportunities to predict, prevent, diagnose and treat animal illness more quickly, accurately, and safely. Veterinary researchers and developers continue to break new ground in reducing disease spread and its impact due to the development of new medicines and vaccinations for animal health. Recently, several technological developments have been made to improve the quality of life of animals such as:

  • In April 2022, Zoetis announced its latest innovation in diagnostics with the addition of artificial intelligence (AI) blood smear testing to its multi-purpose platform, Vetscan ImagystTM.
  • In June 2021, Vetoquinol announced the launch of a new device called Phovia for faster skin recovery in dogs and cats.

“A new wave of innovation from smart sensors that continually monitor vital signs and AI-driven prediction technologies to mRNA vaccines, feed supplemented with health-boosting ingredients, and many more scientific advances offer enormous potential for better animal health.” - President, Global Operations, Animal Health Company, United States

Adoption of Pet Animals for Companionship & Communities Fuels the Animal Health Market

Pet ownership has skyrocketed across the world. Over 50% of households in top markets own a pet which rises to over 80% in nations like Brazil and Argentina. This reflects the increased recognition that pets are not only companions but offer several benefits to our health and happiness. Moreover, pet owners are more likely to get to know their neighborhood than those without pets, which can lead to more community engagement and improves the quality of life and relationships. Growth in companion animal ownership is expected to boost the consumption of parasiticides antimicrobial & antibiotics, vaccines, feed additives, and growth promoters in the coming years.

Regional Analysis: North America Likely to Continue its Dominance in Animal Health Market

From a regional perspective, North America holds a larger share of the animal health market. This can be attributed to a growing number of pet owners in this region - more than 67% of American households own pets, rising incidence of zoonotic diseases, technological advancements & increase in research and development activities by leading players in this region.

Competitive Landscape Analysis: Animal Health Market

Some of the leading players operating in the global animal health market are Merck Animal Health, Ceva Sante Animale, Vetoquinol S.A., Zoetis, Boehringer Ingelheim, Elanco, and IDEXX, among others.

Explore Detailed Insights on Animal Health Market @ https://meditechinsights.com/animal-health-market/

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