According to the report, global demand for animal hormones market was valued at approximately USD 1,372.6 million in 2018, and is expected to generate revenue of USD 1,893.1 million by end of 2025, growing at a CAGR of 4.7% between 2019 and 2025.
The report covers forecast and analysis for the global animal hormones market. The study provides historic data from 2016 to 2018 along with forecast from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports and other sources have also been considered to arrive at the indicated market numbers.
Animal hormones act as messengers in order to coordinate with the body organs and nervous system in the animals. Imbalance in the hormones affects the animal health and can cause various disorders or diseases. Thus, animal hormones are used to treat hormonal deficiency like hypothyroidism, Addison disease, and for other indications.
The study provides a decisive view on the animal hormones market by segmenting the market based on application, animal type, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on application the market is segmented into growth promoters, performance enhancers, and others. Performance enhancers segment accounted for major share of the market in 2018. Based on animal type the market is segmented into porcine, poultry, porcine, equine, aquaculture, livestock and other animals. Poultry accounted for major share of the market in 2018. The regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries.
The study also includes drivers and restraints for the animal hormones along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the animal hormones market on global level. Rising incidences of hormonal deficiency like the Addison disease in animals likely to boost the animal hormones market. Besides, rising animal husbandry, growing demand for pets, meat, and outbreak of animal diseases is propelling the market for animal hormones. Nonetheless ban on use of certain animal hormones in the European countries like Sweden, U.K., and Denmark is likely to hamper the market growth for animal hormones. Additionally, stringent government regulations which are associated with the efficacy and safety of animals and adverse effects of animal hormones are also hindering the market growth. However, ongoing research and development activities in this sector are likely to provide growth opportunities for the market.
The report also provides company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers and industry experts. Some of the players included in animal hormones market are Boehringer Ingelheim, Bayer Animal Health, Bupo Animal Health, Merck Animal Health, Royal DSM N.V., Elanco Animal Health, Alltech, Inc., Elanco Animal Health, Danisco A/S, and AB Vista.
The report segments the animal hormones market as follows:
Global Animal Hormones Market: Application Segment Analysis
Global Animal Hormones Market: Animal Type Segment Analysis
Global Animal Hormones Market: Regional Segment Analysis