Animal Healthcare Market Size | Share | Opportunities 2022

The global animal healthcare market size was valued at USD 48.62 billion in 2021 and is poised to grow at a significant CAGR of 8.4% during the forecast period 2022-28. Increase in the incidence of livestock diseases coupled with rise in R&D for the launch of newer pharmaceuticals and vaccines burgeon the growth of animal healthcare market. Moreover, rise in awareness about the animal feed and feed additive products, increase in adoption of pet animals, rise in awareness about livestock diseases among the population, and grow in demand for quality animal food products are anticipated to surge the growth of market over the forecast years. In addition, government initiatives for animal welfare programs escalate the revenue of the market in future.