Animal Health Market is projected to increase at a 4% CAGR to reach $49.1 billion by 2026

BRUSSELS - Sept. 27, 2022 - PRLog -- The Global Animal Health Market is expected to grow at a rate of ~4% to reach ~$49 billion by 2026. Rising awareness regarding animal health products, increasing demand for protein-rich food including meat, milk, eggs, and fish, growing incidence of zoonotic and food-borne diseases, increasing trend of companion animal adoption, and rising investments in research and development of medications & vaccines for animal care are some of the key factors driving the global animal health market.

It covers a wide range of animal species, including the domesticated and wild, with an extensive range of conditions that affect several species. It entails providing proper care for animals through the use of vaccines, anti-infective and anti-parasitic drugs, pharmaceutical specialty products, performance technologies, and value-added programs, such as livestock data management tools.

Modernizations in Animal Health Market
Technical advances, innovations, and emerging technologies from artificial intelligence to stem cell therapy and new generations of vaccines, have provided greater opportunities to predict, prevent, diagnose and treat animal illness more quickly, accurately, and safely. Due to the development of new medicines and vaccinations for animal health, veterinary researchers and developers continue to make strides in limiting disease spread and its impact.

Recently, a number of technical advancements have been created to enhance animal welfare, including:

• In April 2022, Zoetis announced its latest innovation in diagnostics with the addition of artificial intelligence (AI) blood smear testing to its multi-purpose platform, Vetscan ImagystTM
• In June 2021, Vetoquinol announced the launch of a new device called Phovia for faster skin recovery in dogs and cats

"A new wave of innovation from smart sensors that continually monitor vital signs and AI-driven prediction technologies to mRNA vaccines, feed supplemented with health-boosting ingredients, and many more scientific advances offer enormous potential for better animal health."- President, Global Operations, Animal Health Company, United States

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Competitive Landscape Analysis of Animal Health Market
Some of the key players operating in the global animal health market include Merck Animal Health, Ceva Sante Animale, Vetoquinol S.A., Zoetis, Boehringer Ingelheim, Elanco, and IDEXX, among others.