The global animal health market is expected to grow at a pace

Brussels, Belgium, June 20, 2022 (GLOBE NEWSWIRE) —

The description:

Animal health is a medical discipline that emphasizes the prevention, detection, control and therapy associated with veterinary diseases, disorders and injuries. It covers a wide range of animal species, including domestic and wild species, with a huge range of conditions that affect multiple species. It’s about caring for animals with the proper use of vaccines, anti-infective and anti-parasitic drugs, specialty pharmaceuticals, high-performance technologies and value-added programs, such as data management tools. ‘breeding.

Technological Innovations in animal health Market

Scientific advances, innovations and emerging technologies, from artificial intelligence to stem cell therapy and new generations of vaccines, have provided greater opportunities to predict, prevent, diagnose and treat animal diseases more quickly, with accurately and safely. Veterinary researchers and developers continue to innovate in reducing the spread of disease and its impact due to the development of new drugs and vaccines for animal health. Recently, several technological developments have been made to improve the quality of life of animals such as:

  • In April 2022, Zoetis announced its latest diagnostic innovation with the addition of artificial intelligence (AI) blood film testing to its versatile 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 ranging from smart sensors that continuously monitor vital signs and AI-based prediction technologies to mRNA vaccines, foods supplemented withhealth boosting ingredients, and many more scientific advances offer enormous potential for better animal health. – President, Global Operations, Animal Health Company, USA

Pet Adoption for Companionship and communities feed it animal health market

Pet ownership has exploded across the world. Over 50% of households in major markets currently own a pet, with this figure rising to over 80% in countries such as Brazil and Argentina. This reflects the increased recognition that pets are not just companions, but provide tangible benefits to our health and happiness. Additionally, pet owners are more likely to know their neighborhood than those who don’t, which can lead to greater community engagement and improved quality of life and relationships. Growth in pet ownership is expected to drive consumption of parasiticides, antimicrobials and antibiotics, vaccines, feed additives and growth promoters in the coming years.

North America Likely to continue its dominance in animal health market

Geographically, North America holds a major market share of the animal health market. This can be attributed to the growing number of pet owners in this region – more than 67% of US households own pets, the growing incidence of zoonotic diseases, technological advancements and increased activities of research and development by leading players in this region.

Competitive landscape Analysis: animal health market

Some of the major players operating in the animal health market are Merck Animal Health, Ceva Santé Animale, Vetoquinol SA, Zoetis, Boehringer Ingelheim, Elanco, and IDEXX, among others.

Companies adopting both ORGANIC & Inorganic Growth Strategies to Increase Market Share in Animal Health Market

Players operating in the global animal health market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, financings, and new product launches to gain higher market share. For example, in June 2022, Boehringer Ingelheim and CarthroniX announced that they had entered into a research collaboration to pursue small molecule therapies in canine oncology. The collaboration will focus on identifying new molecules to target cancers in dogs.

Explore Detailed Iinsights on Global Animal Health Market @ https://meditechinsights.com/animal-health-market/

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