The global animal healthcare market is expected to grow from $29,537.4 million, at a CAGR of 7.0% during 2016-2022. Among the various products, the pharmaceuticals segment including, ectoparasiticides, endoparasiticides, anti-inflammatories and others accounted for largest share in the global animal healthcare market in 2015.

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The increasing population of production animals and companion animals is supporting the growth of the global animal healthcare market. The production animals are nurtured by the consumers for milk and meat related products; whereas, companion animals are adopted for office or house guards and companionship.

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Most of the animal healthcare companies are concentrating on research and development activities to offer better vaccine and pharmaceutical products for the prevailing diseases. The top ten competitors in the global animal healthcare market accounts for 75% of the total market share, which creates more competition in the market.

According to the Food and Agriculture Organization (FAO) of the United Nations, the global meat production is expected to grow from 272.2 million tons in 2015, to 341.1 million tons by 2030. Meat production is expected to reach 224.1 million tons by 2030 in the developing countries, such as Brazil, India, and China.

Some of the major companies operating in the global animal healthcare market include Zoetis, Merck, Merial, Bayer, Virbac, Ceva Sante Animal S.A., Boehringer Ingelheim GmbH, Elanco, and Vetoquinol.