The global market for animal health products is expected to grow at a significant CAGR of 4.0 % during the forecast period. Among the product segment, the pharmaceutical segment is anticipated to dominate the animal health product market owing to the continuing improvements in veterinary pharmaceuticals. Anti-inflammatory medications, parasiticides, antibiotics, and other pharmaceuticals are among the most common. The growing popularity of companion animals has accelerated the introduction of medications to help people live longer. Furthermore, a growing number of mergers and acquisitions, such as Elanco's purchase of Bayer, have resulted in multimarket distribution of their products, including pharmaceuticals. Mergers and acquisitions are seen as one of the most important contributors in segment growth over time. For instance, Elanco Animal Health Inc. announced in August 2020 that it has completed the acquisition of Bayer Animal Health. Elanco's scale and capabilities will be expanded as a result of the $6.89 billion deal, which will position the company as a long-term leader in the animal health industry. Elanco's Innovation, Portfolio, and Productivity (IPP) strategy, which the business has been pursuing since its IPO in 2018, has been strengthened by this acquisition. Elanco's portfolio will be expanded as a result of the merger, giving farmers, pet owners, and veterinarians more comprehensive animal health solutions. The transaction strengthens Elanco's omni-channel footprint by merging Elanco's long-standing focus on the veterinarian with Bayer's direct-to-consumer expertise, allowing the business to meet clients where and how they want to shop.
Browse the full report description “Global Animal Health Products Market Size, Share, and Trends Analysis Report, By Type (Poultry, Cattle, Aquatic, and Porcine), Forecast by Product (Pharmaceuticals, Vaccines, and Feed Additives) (2022-2028)” at https://www.omrglobal.com/industry-reports/animal-health-products-market
Merck & Co., Zoetis, and Vetiquinol S.A. are the market's major players. To stay competitive in the market, market players are using a variety of strategies such as mergers and acquisitions, geographical expansion, partnerships and collaborations, and new product launches to contribute significantly to market growth. For instance, Elanco Animal Health Inc. launched ZoaShield in the US in May 2021. It offers poultry producers a tried-and-true zoalene solution for keeping coccidiosis at bay in a simple and manageable manner.
Market Coverage
Segment Covered-
Regions Covered-
Competitive Landscape- Merck & Co., Zoetis, and Vetiquinol S.A. and others.
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Animal Health Products Market Report Segment
By Type
By Product
Global Animal Health Products Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World