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The India animal health market is expected to grow at a CAGR of 8.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
The India animal health market is currently witnessing strong growth. Animal health refers to the regular monitoring of the health of domesticated animals or livestock. It includes the development of veterinary drugs, pesticides, feed additives, pharmaceuticals and biologics. Furthermore, it involves ensuring constant food supply and preventing the outbreak of various zoonotic diseases, such as feline leukemia, animal flu, Lyme disease and tick infestation, caused by viruses, bacteria and parasites. Effective practice of animal healthcare also helps in reducing the chances of inter-species infection in a veterinary or a domesticated situation. Major industries such as dairy in India are animal-dependent, owing to which the government invests significantly for improving the animal healthcare practices.
Significant growth in the veterinary pharmaceutical industry is one of the key factors driving the growth of the market in India. In line with this, the rising prevalence of zoonotic diseases is also providing a boost to the market growth. Various technological advancements, such as the integration of the Internet of Things (IoT) with animal health monitoring solutions, coupled with the increasing utilization of mobile sensors and wearables to monitor animal behavior and health, are also driving the market growth. Additionally, the widespread adoption of feed additives, which aid in enhancing the overall animal health while improving the quality of the produce, including milk, meat and eggs, is creating a positive outlook for the market. Moreover, the Government of India, along with various non-governmental organizations, are undertaking research and development (R&D) activities in the field of animal health. For instance, the Indian Federation of Animal Health Companies (INFAH), an organization formed under Section 25 of the Companies Act, works extensively to create awareness for disease control and provide effective treatments.
IMARC Group’s latest report provides a deep insight into the India animal health market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the India animal health market in any manner.
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