Technavio Reports Increased Adoption of Pets Will Enhance the Global Animal Health Market Through 2019

LONDON–(BUSINESS WIRE)–Technavio has published a new report on the global
animal health market
, which is expected to grow at a CAGR
of nearly 4% from 2015-2019.

About the Report

According to the new market analysis by Technavio, there is an increase
in pet adoption, which is primarily due to the rise in urbanization and
change in lifestyle. Along with the rise in awareness of the health and
well-being of pets, the demand for medical services for pets has also
increased.

“The increased adoption of pets and pet foods has given prominence for
distribution channels such as supermarkets, clinics, and pet shops.
Peoples’ close contact with pets necessitates regular vaccinations and
veterinary check-ups to ensure good health,” says Faisal Ghaus, Vice
President of Technavio.

The latest report by Technavio also emphasizes the prevalence of
industry-academia collaborations, where vendors are increasingly
extending their funding to academic institutions to support the R&D of
innovative products for animal healthcare.

“One such instance of industry-academia collaborations is that, in May
2013, Zoetis awarded $100,000 to Texas Tech University to provide
resources for Salmonella research,” adds Ghaus.

Market Scope and Calculation of Market Size

The new Technavio report covers the present scenario and growth
prospects of the global animal health market from 2015-2019. To
calculate the market size, the report uses revenue generated from the
sale of animal healthcare products, which include biologicals, medicinal
feed additives, and pharmaceuticals.

Key Information Covered in the Report:

  • Key Vendors:

    • Bayer Animal Health
    • Elanco
    • Merck
    • Merial
    • Zoetis
  • Market Growth Drivers:

    • Increase in consumption of meat and milk
    • For a full detailed list, view
      our report
      .
  • Market Challenges:

  • Market Trends:

Technavio currently has
more than 3000 market research reports on a huge range of topics,
including 200+ reports on the pet food market:

If you are interested in more information, please contact our media team
at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
US: +1 630 333 9501
UK:
+44 208 123 1770
Media & Marketing Executive
www.technavio.com
media@technavio.com