This growth can be ascribed to the growing requirement for veterinary medications the growing consumption of meat and milk items, the thriving pet acceptance trend, and the rising occurrence of zoonotic illnesses.

In the past few years, on the basis of animal type, the production animals category, had a revenue share of more than 52%, and the category is projected to advance at a significant CAGR in the coming few years, credited to the growing requirement for protein-rich meals throughout the globe.

Production animals are raised for their skin, fur and leather, wool, milk, and meat. As per the National Agricultural Statistics Service and the United States Department of Agriculture the income from egg, chicken, broiler, and turkey sales, was USD 46.10 billion in 2021.

Moreover, the growing expenditure on animal well-being, mainly in industrialized countries, is because of the extensive acceptance of production animals.

Browse detailed - Animal Pharmaceuticals Market Revenue Estimation and Growth Forecast Report

Animals are vulnerable to numerous diseases and environmental risks, and they can act as an initial warning system for possible human contagions. The worldwide occurrence of zoonotic diseases has grown during the last 20 years mainly because of the growing pet populace in developing nations.

In recent years, North America led the industry, with a market share of above 30%, and the continent is projected to grow at a significant CAGR in the future as well. This can be credited to the rising pet ownership and high standards of living throughout the continent.

Hence, the growing requirement for veterinary medications the growing consumption of meat and milk items, the thriving pet acceptance trend, and the rising occurrence of zoonotic illnesses are the major factors boosting the animal pharmaceuticals market.