Animal Pharmaceuticals Market Rapidly Growing due to Evolution of New Diseases in Animals and Emerging Economies

 

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Asia-Pacific contributed 27.4% to the animal pharmaceuticals market in 2015. The Asia-Pacific region is expected to witness the fastest growth in the market for animal pharmaceuticals during 2016-2022. The increasing population and urbanization in Asia-Pacific is augmenting the demand for animal products. The improving standard of living of people in countries such as China, India and Indonesia are also escalating the number of companion animals. These factors lay opportunity for the animal pharmaceutical companies operating in the region.

 

Due to the growing health concern of related animals and their increasing number, the healthcare expenses in farms are surging globally. Animal farms are increasing, due to growing demand for protein rich foods, such as milk, eggs and meat. Also, the production of milk is increasing due to growing demand for milk nutrition and protein. The increasing worldwide consumption of meat and milk is further fueling the growth of the animal pharmaceuticals market.

 

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Some of the major players operating in the animal pharmaceuticals market include Merck & Co. Inc., Vetoquinol S.A., Zoetis Inc., Virbac SA, Boehringer Ingelheim GmbH, Perrigo Company plc, Eli Lilly and Company, Sanofi and Bayer AG.

 

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