North America Animal Health Market is expected to reach US$ 40,797.6 Mn by 2027

Prescription Segmentto Grow atFaster PaceDuringForecast Period

According to The Insight Partners market research study of “North AmericaAnimal HealthMarketForecast to 2027 - Covid-19 Impact and Global Analysisby Product, and Animal Type,”the North Americaanimal healthmarket is projectedto reach US$ 40,797.6 million by2027 from US$ 25,719.77 million in2019. The market is estimated to grow at CAGR of 6.0% from 2020 to 2027. The report highlights trends prevailing in the North Americaanimal health marketand the factors driving market along with those that act as hindrances.

The North Americaanimal health market, based on product, is further segmented into prescription, and non-prescription. The prescriptionsegment held alargershare of the market in 2019. However, the non-prescriptionsegment is estimated to register ahigherCAGR during the forecast period owing to thestandard shift from Rx to OTC is likely to drive the growth for animal health market during the forecast period.

The North America animal health marketis expected to grow owing to increasing incidences of zoonotic diseasesin the region. However, use of counterfeit medicines islikely to restrain the growth of the market during the forecast period.

Leading companies operating in the Animal Health marketareMerck & Co., Inc.; Cargill, Incorporated; Zoetis Inc.; Elanco and Nutreco N.V., among others.

North AmericaAnimal Health Market, By Country, 2019 (%)

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North America Animal Health Market to Grow at a CAGR of 6.0% to reach US$ 40,797.6 Million from 2020 to 2027

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North America Animal Health Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Prescription, and Non-Prescription); Animal Type (Production Animal, Companion Animal); Country

The report segments North AmericaAnimal Health Market as follows:

ByProduct

• Prescription
  • Feed additives
  • Pharmaceutical
  • Vaccines
  • Diagnostics
• Non-prescription
  • Nutrition/Supplements
  • Grooming Products
  • Parasiticides

By Animal Type

• Production Animal
• Companion Animal

By Country

• US
• Canada
• Mexico