DUBLIN–(BUSINESS WIRE)–The “Global Animal Pharmaceuticals Market (2021-2026) by Type, Product, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Animal Pharmaceuticals Market is estimated to be USD 19.3 Bn in 2021 and is expected to reach USD 28.16 Bn by 2026, growing at a CAGR of 7.85%.
Market Dynamics
The global animal pharmaceuticals market is being driven by rising milk and meat consumption, the rising trend of pet adoption, and the rising prevalence of foodborne and zoonotic illnesses. Animals are adopted for companionship or as a house or workplace security, which has made animals an essential aspect of human existence in our day.
Therefore it’s necessary to look after their well-being and health. As a result, the deeper bond between humans and animals and the rising demand for pets are all driving the animal pharmaceuticals industry forward. In addition, as the economies are growing, governments and pharmaceutical firms are investing in animal healthcare, creating new opportunities for the market ahead.
However, the market’s development is being restrained by rising costs and the government regulatory prohibitions on the animal pharmaceuticals industry.
Recent Developments
- Elanco announces an agreement to acquire Kindred Biosciences for the expansion in pet health. – 16th June 2021.
- Phibro Animal Health Corporation Acquires…
