The global animal hormones market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). To coordinate between the nervous system and body organs, animal hormones act as a messenger. However, the health of the animals is affected due to hormonal imbalance. It may further lead to several diseases or disorders. The major factor for the growth of the global animal hormones market during the forecast period is the rise in the prevalence of hormonal deficiency such as Addison disease, hypothyroidism among others. Addison disease is a disorder in which adrenal glands don’t produce enough hormones. Additionally, the increasing demand for food products such as milk, meat, among others is driving the growth of the global animal hormone market during the forecast period. Moreover, the market is also growing due to an increase in animal farming and the high rate of pets adoption across the globe.
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Some key players in the market include Elanco Animal Health, Boehringer Ingelheim GmbH, and Koninklijke DSM NV, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in August 2019, Elanco Animal Health has entered into a definitive agreement to acquire Bayer’s Animal Health business valued at $7.6 billion consisting of $5.3 billion in cash.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Animal
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Elanco Animal Health, Boehringer Ingelheim GmbH, and Koninklijke DSM NV, among others.
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Global Animal Hormones Market Report by Segment
By Type
- Poultry
- Porcine
- Livestock
- Equine
- Aquaculture
- Others
By Application
- Growth Promoters
- Performance Enhancers
- Others
Global Animal Hormones Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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