According to the research report titled ‘Global Animal Health Market (2021 Edition) - Analysis By Animal Type (Production, Farm), Product Type (Pharmaceuticals, Vaccines, Feed Additives), By End User, By Region, By Country: Market Insights & Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global animal health market, which generated revenues worth USD 47.21 billion in 2020, is now expected to register considerable growth through 2026.

The rising trend of adopting pets, increasing demand for animal healthcare products, surging investments in animal vaccinations, and mounting production of animal-based food products are some of the factors driving the growth of the global animal health market.

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The growing animal population and rising prevalence of diseases in animals have resulted in the rapid development of drugs for animal care, with new products launched continuously by medicine-manufacturing companies, thereby aiding towards the market expansion.

The COVID-19 outbreak has severely affected various sectors including the veterinary sector and the livestock sector. It also disrupted the meat trade resulting in changes in the consumption habits of consumers due to food safety and quality concerns, which in turn is negatively impacting global animal health market expansion.

Despite this, growing human-animal relationships, rising prevalence of infectious diseases, surging investments by prominent players, and technological advancements will pave the way toward the overall market growth in the subsequent years.

Based on animal type, the market is divided into companion animals and production animals. Moving on to product type, the market is fragmented in terms of vaccines, pharmaceuticals, and feed additives.

Citing the end-user spectrum, the market is segmented on the basis of point of care testing, veterinary hospitals & clinics, and others.

The geographical bifurcation of this business sphere extends to Latin America, Europe, North America, Middle East & Africa, and Asia Pacific with major emphasis on countries such as China, Brazil, France, Germany, Canada, India, Japan, Italy, the U.K., and the U.S.

The major companies influencing the global animal health market are Phibro Animal Health Corporation, Vetoquinol, Ceva Santé Animale, IDEXX Laboratories Inc., Virbac, Elanco Animal Health Incorporated, Covetrus Inc., C.H. Boehringer Sohn AG & Ko. KG, Merck & Co., Inc., and Zoetis Inc.