Global Animal Therapeutics And Diagnostics Market Analysis 2023: Expanding Role Of Pet And Farm Animal Health

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The "Global Markets for Animal Therapeutics and Diagnostics" report has been added to ResearchAndMarkets's offering.

The global animal therapeutics and diagnostics market is on a trajectory of steady growth, with a forecasted value of $81.2 billion by 2028. This market encompasses a wide range of segments, including vaccines, pharmaceuticals, feed additives, and diagnostics. The growth is driven by factors such as increased pet ownership, longer lifespans for pets, and growing attachment to pets among owners, all contributing to the surge in demand for pet medications and vaccinations.

In today's world, the pet and farm animal sectors of the animal health business are expanding rapidly and serving billions of people worldwide. The rise in pet ownership globally, coupled with longer pet lifespans and strong emotional bonds between owners and their pets, fuels the demand for pet medications and vaccinations.

As the global population continues to grow, there is an increasing need for animal protein. This has led to a higher demand for farm animal medicines and vaccines, driven by the requirement for improved nutrition, especially from poultry and aquaculture. Factors such as scarcity of resources, productivity loss due to diseases, and rising food production costs further propel this demand.

Market Segmentation:

The report segments the animal therapeutics and diagnostics market into vaccines, pharmaceuticals, feed additives, and diagnostics. Diagnostics include products used at the point of care, such as rapid tests, in-clinic analyzers, and imaging equipment. Each segment provides detailed information, including product categories, usage, forecasts, and competitive analyses.

Key Report Highlights:

  • Market Overview: Get insights into the global animal therapeutics and diagnostics market, including trends and growth potential.
  • Market Dynamics: Analyze market drivers, opportunities, restraints, trends, and technological advancements shaping the industry.
  • Competitive Landscape: Understand market shares, competitive strategies, and positioning of leading suppliers of animal vaccines and therapeutic drugs.
  • ESG Trends: Explore environmental, social, and governance trends in the animal health sector.
  • Patents: Analyze patents granted for animal health products.

Leading Companies:

Profiles of key players in the market, including :

  • Ajinomoto Co., Inc.
  • Alltech
  • Aratana Therapeutics Inc.
  • BASF Animal Nutrition
  • Bayer Animal Health Gmbh
  • Beaphar
  • Bluestar Adisseo Co., Ltd.
  • Boehringer Ingelheim Vetmedica Inc.
  • Dechra Pharmaceuticals Plc
  • DSM Nutritional Products Ltd.
  • Elanco Animal Health Inc.
  • Evonik Industries Ag
  • Heska Corp.
  • Idexx Laboratories Inc.
  • Merck Animal Health
  • Mosaic Co. (The)
  • Virbac S.A.
  • Zoetis Inc.

Key Questions Answered:

  • What is the estimated global animal therapeutics and diagnostics market size by 2028, and what is the expected compound annual growth rate (CAGR)?
  • What are the main drivers and opportunities in the animal health market?
  • What factors are inhibiting market growth?
  • What strategies are market players adopting to expand their market presence?

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