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 notable returns by the year 2026.

Growing inclination towards pet ownership and humanization of pets are propelling the global animal health market trends.

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Furthermore, veterinarian services aid in the prevention and treatment of diseases and ailments, resulting in increased production of animal-based food items and substantial price reductions, providing easy access to nutritious food, which is further augmenting industry outlook.

Moreover, shifting focus towards the development of animal care drugs due to growing prevalence of animal diseases as well as booming animal population, and increasing demand for animal healthcare items such as food and medicines are anticipated
to augment industry expansion in the coming years.

Notably, COVID-19 had an impact on several areas of the global economy, including the veterinary sector. The cattle sector, particularly the dairy and meat verticals, and related processes, have been badly damaged by the lockdown and other restrictions, which in turn hampered the worldwide animal health market size.

However, rising trend of nuclear families around the world, in consort with deepening human-animal bond, leading to significant expenditure on pets, and increasing outbreaks of infectious illness will revive the industry growth.

Based on animal type, the market is split into companion animals, and production animals. In terms of product type, the industry is divided into feed additives, vaccines, and pharmaceuticals. On the basis of end user, the marketplace is classified into point-of-care-testing, veterinary hospital & clinics, and others.

Regionally speaking, the report thoroughly studies the market trends in North America (U.S., Canada), Asia Pacific (Japan, China, India), Europe (France, Spain, UK, Germany), and LAMEA (Brazil).

Phibro Animal Health Corporation, Vetoquinol SA, Ceva Santé Animale, IDEXX Laboratories Inc. Virbac SA, Elanco Animal Health Incorporated, Covetrus Inc., C.H. Boehringer Sohn AG & Ko. KG, Merck & Co. Inc., and Zoetis Inc. are the leading players in global animal health market space.