According to the research report titled ‘Global Animal Health Market: Analysis By Type, By Products, By Route of Drug Administration , By Distribution Channel, By Region, By Country: Opportunities and Forecast (2013-2023)’ available with Market Study Report, global animal health market is projected to grow with a CAGR of 5.63% over the period of 2018-2023.
 

According to industry experts, upsurge in occurrences of zoonotic diseases coupled with increasing awareness pertaining to animal welfare are major factors driving the growth of animal health market. Rising number of pet adoptions and growing demand for proteins are also boosting the expansion of the market. Moreover, focus towards food safety in tandem with consolidation of the industry are favoring the business scenario.
 

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The report divides the animal health market into various segments based on type, product spectrum, route of drug administration, distribution channel, and regional terrain.
 

Based on type, global animal health market is split into companion and farm. Elaborating on the product spectrum, the market comprises of feel additives, pharmaceuticals, and biologicals.
 

Speaking of the route of drug administration, global animal health market is fragmented into transdermal, topical, parenteral, and oral. With regards to distribution channels, the industry is bifurcated into clinic, veterinary hospital, e-commerce, and retail.
 

As per the regional analysis, global animal heath market is divided into Asia-Pacific, Europe, North America, and rest of the world. The country-level fragmentation includes China, India, Italy, Germany, United Kingdom, Canada, U.S., and Mexico.
 

The report states that North America accounted for a substantial market share in the year 2018, while Asia-Pacific is expected to dominate global animal health market in terms of growth. Increasing expenditure on pets coupled with the vast clientele, predominantly in India and China, are augmenting the regional market growth.
 

The competitive landscape of global animal health market comprises of Dechra Pharmaceuticals PLC, Bayer AG, ECO Animal Health Ltd, Phibro Animal Health Corporation, Chr. Hansen A/S, Merck & Co Inc., Elanco Animal Health, Zoetis Inc., Boehringer Ingelheim International GmbH, and Alivira Animal Health Ltd among others.