Global Animal Health Market on a Growth Trajectory, Expected to Reach ~$49 Billion by 2026

BRUSSELS - Oct. 10, 2023 - PRLog -- Animal health is a medical specialty that focuses on the prevention, identification, management, and treatment of veterinary illnesses, disorders, and injuries. It encompasses a wide range of animal species, both domesticated and wild, as well as a wide range of disorders that impact several species.

Advancements in the Animal Health Market Technology

From artificial intelligence to stem cell treatment and new generations of vaccinations, scientific discoveries, innovations, and developing technologies have increased our ability to forecast, prevent, diagnose, and treat animal sickness more quickly, precisely, and safely. Several technical advancements have recently been created to improve the quality of life of animals, 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

Growing Utilization of Pet Animals for Companionship & Communities is Boosting the Animal Health Market

Pet ownership has increased dramatically over the world. Over 50% of families in major markets now own a pet, rising to over 80% in countries such as Brazil and Argentina. This reflects a growing realization that pets are more than just companions; they also provide concrete advantages to our health and happiness. Furthermore, pet owners are more likely than non-pet owners to become acquainted with their surroundings, which may lead to increased community participation and improved quality of life and relationships.

North America Likely to Continue its Dominance in the Animal Health Market in Coming Years

Geographically, North America controls a sizable portion of the animal health business. This may be ascribed to an increasing number of pet owners in this area – more than 67% of American households own pets –, a rise in the frequency of zoonotic illnesses, technical developments, and an increase in research and development efforts by key businesses in this region.

Competitive Landscape Analysis of the Animal Health Market

Some of the Major Companies operating in the market include Merck Animal Health, Ceva Sante Animale, Vetoquinol S.A., Zoetis, Boehringer Ingelheim, Elanco, and IDEXX, among others.

Get A Detailed Analysis and Accurate Insights on Animal Health Market https://meditechinsights.com/animal-health-market/