North America Animal Health Market Trends, Size, Segment and Growth by Forecast to 2030

 

Market Overview and Dynamics

The North America animal health market is expected to reach US$ 40,797.6 Mn in 2027 from US$ 24,436.0 Mn in 2018. The market is anticipated to grow with a CAGR of 6.0% from 2019-2027. Factors driving the market growth include increasing incidences of zoonotic diseases. However, the use of counterfeit medicines is likely to have a negative impact on market growth.

Market Introduction

Controlling animal health by preventing animal disease epidemic and monitoring animal food supplies is vital to the any economy and safety of the any country's food supply. Breeding of healthy livestock guarantees a safe supply of food and keep selling prices stable. Animal disease epidemic costs the country millions of dollars owing to livestock trade halts, animal slaughters and subsequent disease elimination efforts. For example, in November 2017, Porcine reproductive and respiratory syndrome virus (PRRSV), causes stillborn piglets which costs U.S. farmers an annual $600 million. Animal diseases with human health connection can adversely affect public health, international trade, and the stability of the agricultural sector. Disease free and healthy animals likely to result in safer food supplies, higher farm productivity, reduced environmental impacts, reduced use of antibiotics.

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North America Animal Health Strategic Insights

Strategic insights for the North America Animal Health provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Market leaders and key company profiles

  Merck & Co., Inc.

  Cargill, Incorporated

  Zoetis Inc.

  Elanco

  Nutreco N.V.

North America Animal Health Regional Insights

The geographic scope of the North America Animal Health refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Key Market Segments

By product, the prescription segment accounted for the largest market share in the North American animal health market in 2018. In terms of animal type, the production animal segment held the largest market share of the animal health market by 2027.

Major Sources and Companies Listed

Some of the major primary and secondary sources for animal health market included in the report are, Centers For Disease Control And Prevention (CDC), Food and Drug Administration (FDA), Cattle Health and Welfare Group (CHAWG), Healthy Pets Healthy Families Initiative (HPHF), Ministry of Agriculture (MA), and others.

Reasons to buy the report

• To understand the animal health market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for animal health market
• Efficiently plan M&A and partnership deals in animal health market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form animal health market
• Obtain market revenue forecast for market by various segments from 2018-2027 in North America region.

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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights