These days, the adoption of animal as pets has been increasingly rapidly, as people are getting more attached to animals. A number of studies have shown that adopting a pet make a person happier and even elongate their lives. Pets are of specific help to people who suffer from stress, depression, anxiety, or any other mental health issue. The affectionate nature of pets, especially dogs, can considerably aid in dealing mental health issues. Furthermore, pets can have a significant effect on the psyche of children and can help them in learning valuable life lessons.

Just like humans, animals suffer from health problems and need regular health checkups, which is why the animal pharmaceuticals market is growing rapidly. Pharmaceuticals for animals are utilized for treating, diagnosing, and curing veterinary disorders and diseases. In addition to this, the consumption of protein-rich foods, such as meat, eggs, and milkis on a rise all across the globe. Animals that are reared for the purpose of consumption need to be free of any kind of diseases, otherwise, the disease may be transmitted to human beings. This is further resulting in the rising demand for animal pharmaceuticals.

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Geographically, North America held the largest share of the market in the past, owing to the swift urbanization, surging consumption of meat and milk products, and higher standard of living. Apart from this, the demand for animal pharmaceuticals is also projected to rise substantially in Asia-Pacific, thereby making the region the fastest-growing animal pharmaceuticals market in the near future. This can be owing to the growing export of animal products, which is compelling farm worker and owners to maintain the health of farm animals. Moreover, the improving living standards in China and India is also driving the demand for animal pharmaceuticals.

In conclusion, the market is being driven by the growing adoption of pets and increasing consumption of meat across the globe.