Loading...

Animal Therapeutics and Diagnostics Market Expected to Reach $36,226 Million, Globally, by 2022

 
 

quote The growth in the adoption rate of companion animals, increase in prevalence of animal diseases, and rise in the demand for meat and milk by consumers has led to an increase in demand for diagnostic and therapeutic products worldwide. quote

Hemali Narkhede
Research Manager, Healthcare at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

Global Animal Diagnostics and Therapeutics Market published by Allied Market Research, forecasts that the global market was valued at $23,793 million in 2015 and is projected to reach $36,226 million by 2022, registering a CAGR of 6.1% during the forecast period, 2016 - 2022.

Access Full Summary at: https://www.alliedmarketresearch.com/animal-therapeutics-diagnostics-market

Animal diagnostics is essential to ensure better understanding of the cause of any ailment. Animal diagnostics consists of various instruments and consumables, which can assist in the diagnosis of diseases, whereas therapeutic agents are useful in the treatment of diseases via their mode of action. Animal diagnostics involves determination of the factors responsible for the onset of any disease and transmission of the same. This determination is done by diagnostic instruments and consumables. Therapeutic products used in the treatment of animals comprise of different drugs that help cure the disease through their mode of action.

Increase in number of animal population in the developing countries, rise in demand for animal-based foods, and the rise in adoption of companion animals is the major factor that fuels the growth of this market. The animal therapeutics and diagnostics market has experienced moderate growth in the recent years due to emerging diseases affecting livestock. The outbreak of epidemics results in severe mass wipeouts of animals and is a growing concern for the industries dependent on products obtained through farm animals. Moreover, zoonotic diseases affecting animals pose a threat to the public health making diagnosis and therapeutic products an important component in disease management.

Animal therapeutics segment is anticipated to dominate the market with maximum share, in 2015 in terms of revenue. Therapeutic products are used for the treatment of various animal diseases. The treatment of diseases that affect commercial animals such as poultry and cattle is even more important, as their products in the form of milk and meat can be consumed by humans, which can lead to foodborne diseases in case of infected animals.

Companion animals is expected to be the fastest growing segment throughout the analysis period and accounts for almost one-thirds of the total share of the market in 2015. This is due to the increase in adoption rate of these animals, presence of strong bond between the owner and their companion animals, and high disposable income of the owners.

Key Findings of the Animal Diagnostics and Therapeutics Market

  • Consumables is projected to be the fastest growing segment during the analysis period.
  • Anti-parasitic drugs generated the highest revenue and is expected to continue its dominance throughout the forecast period.
  • North America dominated the global animal therapeutics and diagnostics market and is projected to grow at a CAGR of 5.4%.
  • Consumable animals segment occupied nearly one-third of the total market in 2015.
  • China is the fastest growing country in the Asia-Pacific region, registering a CAGR of 7.8% from 2016 to 2022.

In 2015, North America displayed maximum contribution in the animal diagnostics segment accounting for one-third of the total revenue generated that year. North America also was the highest contributor in the growth of the market for therapeutics in 2015. Asia-Pacific region observes fast paced growth in both animal diagnostics and animal therapeutics market registering a CAGR of 7.8% and 6.6%, respectively. Rise in disposable income, increase in animal healthcare expenditure, and increase in trend of adopting companion animals boost the growth of the animal therapeutics and diagnostics market in the Asia-Pacific region.

The major companies profiled in the report provide extensive competitive analysis and profiles of key market players including Bayer AG, Eli Lilly and Company, Boehringer Ingelheim GmbH, Merck & Co., Inc., Zoetis Inc., Ceva Sant Animale, Sanofi S.A., Nutreco N.V., and Virbac S.A.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Animal Therapeutics and Diagnostics Market by Therapeutic Products (Anti-Parasitic Drugs and Antibiotics, Anti-inflammatory Drugs, Anesthetics, and Other Drugs), Diagnostics Products (Instruments and Consumables), Animal Type (Companion Animals, Cattle, Pigs, Poultry, and Sheep) - Global Opportunity Analysis and Industry Forecast, 2014-2022 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Animal Therapeutics and Diagnostics Market"
Purchase Enquiry