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Animal Healthcare Market is Appraised to be Valued US$ 41,929.1 Million in 2019

Press Release   •   Feb 23, 2017 01:56 EST

Increasing population of companion and production animals is driving the global animal healthcare market. The animals that serve man by giving companionship and guarding their houses/offices are termed as companion animals, while those animals which serve mankind with their meat and milk and fur are called production animals.

The new types of diseases in animals and their transfer to humans via their product consumption and companionship are escalating the animal healthcare market globally. However, some challenges in the form of regulations have emerged against the excess use of antibiotics in production animals, and legislations and protest of animal activists and institutions against animal research.

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The animal healthcare market is very competitive with the top ten players accounting for about three-fourth of the market. The companies are focusing on their research and development activities to produce better pharmaceutical and vaccine products for the existing and newly diagnosed diseases.

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The animal healthcare market is segmented as feed additives, pharmaceuticals and vaccines. Feed additives can be further categorized as nutritional feed additives and medicinal feed additives. Nutritional feed additives include amino acids, minerals and vitamins and are used for production animals for their optimal growth. Medicinal feed additives on the other hand include hormones, enzymes, immune-modulators, probiotics and prebiotics and feed acidifiers which target specific diseases in production and companion animals. Pharmaceutical products mainly comprise of endoparasiticides, ectoparasiticides, endectocides, antibiotics, anti-inflammatories and medicines for reproductive problems. Vaccines make animals disease-immune for a particular disease.

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