Market Introduction
Controlling animal health by preventing animal disease epidemic and monitoring animal food supplies is vital to the any economy and safety of the any country’s food supply. Breeding of healthy livestock guarantees a safe supply of food and keep selling prices stable. Animal disease epidemic costs the country millions of dollars owing to livestock trade halts, animal slaughters and subsequent disease elimination efforts. For example, in November 2017, Porcine reproductive and respiratory syndrome virus (PRRSV), causes stillborn piglets which costs U.S. farmers an annual $600 million. Animal diseases with human health connection can adversely affect public health, international trade, and the stability of the agricultural sector. Disease free and healthy animals likely to result in safer food supplies, higher farm productivity, reduced environmental impacts, reduced use of antibiotics.
Market Overview and Dynamics
The North America animal health market is projected to grow from US$ 24,436.0 million in 2018 to US$ 40,797.6 million by 2027, at a compound annual growth rate (CAGR) of 6.0% during the forecast period (2019–2027). This growth is primarily driven by the rising prevalence of zoonotic diseases. However, the market may be hindered by the increasing circulation of counterfeit veterinary medicines.
Key Market Segments
- By Product: In 2018, the prescription segment held the largest share of the animal health market in North America, driven by increased demand for effective and specialized veterinary treatments.
- By Animal Type: The production animal segment is expected to dominate the market through 2027, reflecting the rising need for disease prevention and health maintenance in livestock.
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Major Sources and Key Organizations
The report draws insights from a variety of trusted primary and secondary sources, including:
- Centers for Disease Control and Prevention (CDC)
- Food and Drug Administration (FDA)
- Cattle Health and Welfare Group (CHAWG)
- Healthy Pets Healthy Families Initiative (HPHF)
- Ministry of Agriculture (MA)
- Additional industry and government publications
Reasons to Purchase This Report
- Gain a clear understanding of the animal health market landscape in North America and identify the most lucrative segments
- Stay competitive with up-to-date insights on evolving market dynamics and the competitive environment
- Make informed decisions on mergers, acquisitions, and partnerships by targeting high-growth market segments
- Enhance strategic planning with a thorough analysis of segment-wise performance across the region
- Access reliable market revenue forecasts segmented by product type and animal type for the period 2018–2027
North America Animal Health Strategic Insights
Strategic insights for the North America Animal Health provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Merck & Co., Inc.
Cargill, Incorporated
Zoetis Inc.
Elanco
Nutreco N.V.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
