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 was worth USD 47.21 billion in 2020 and is anticipated to garner lucrative returns by the year 2026.
 

Increasing demand for pet food and medicines owing to surge in pet ownership is a major growth catalyst for global animal health market.
 

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Moreover, increasing consumption of animal-based food products, investments in vaccination research, and focus on early diagnosis due to several animal diseases are impelling the industry growth.
 

As per the report, the COVID-19 outbreak hampered the veterinary sector by stifling the livestock vertical, owing to food safety concerns and strict lockdown actions to prevent the spread of the virus. Shifting consumption habits of people with a certain degree of aversion to meat is acting as a restraining factor for the marketplace in present times.
 

On the bright side, growing opportunities for drug manufacturing companies with advent of various animal diseases every year, outbreak of new infections, technological advancements, and increasing investments by key players are propelling the worldwide animal health market forward.
 

In terms of animal type, the industry is divided into companion animals, and production animals. On the basis of product terrain, the market is classified into vaccines, pharmaceuticals, and feed additives. With respect to end user, the marketplace is branched into point of care testing, veterinary hospitals & clinics, and others.
 

Considering the regional landscape, the report thoroughly studies the market trends in North America, Asia Pacific, Europe, and LAMEA.
 

The major players included in the global animal health industry report are Merck & Co., Inc., Zoetis, Inc., Phibro Animal Health Corporation, Vetoquinol India Animal Health Pvt. Ltd., Ceva Santé Animale, IDEXX Laboratories, Inc., Virbac, Elanco Animal Health Incorporated, Covetrus, Inc., and Boehringer Ingelheim Animal Health.