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Animal Health Market Size Is Expected To Grow At a CAGR of 5.7% By 2023 | Future Insights, Dynamics, Latest Trends and Global Key Companies Profile Analysis

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rahul kumar
Animal Health Market Size Is Expected To Grow At a CAGR of 5.7% By 2023 | Future Insights, Dynamics, Latest Trends and Global Key Companies Profile Analysis

The latest analysis conducted by Market Research Future (MRFR) states that the Global Animal Health Market had reached the value of USD 38,500 million in 2017.

On top of that, the heightened production of food products for animals has resulted in a considerable price reduction, thereby facilitating convenient access to this food at cheap prices.

Plus, the animal health market benefits from the continuous advancements in technology in veterinary healthcare, presenting numerous growth opportunities soon.

To illustrate, as per the data furnished by the American Pet Products Association (APPA), the total expenditure in the pet industry in 2016 had reached the valuation of USD 66.75 billion.

On the upside, growing government initiatives for the promotion of veterinary products will bring lucrative results for the animal health market, in addition to the factors mentioned above.

The vaccines segment will be representing the highest growth rate in the coming years.

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