July 02, 2012 05:08 ET

Market Research Forecasts Animal Therapeutics & Diagnostics Market at $42 Billion by 2016

ROCKVILLE, MD--(Marketwire - Jul 2, 2012) - has announced the addition of the new report "Animal Therapeutics and Diagnostics," to their collection of Veterinary Health market reports. For more information, visit: 

The total market for animal therapeutics and diagnostics was $30 billion in 2011, up from $25 billion in 2008. By 2016, this market is likely to exceed $42 billion, with a five-year compound annual growth rate (CAGR) of 7.2% from 2011 through 2016.

The pharmaceutical segment accounts for the largest percentage of revenue with nearly 48%. Sales for this segment reached $14.3 billion in 2011 and are expected to increase to nearly $21.0 billion by 2016, a CAGR of 7.5%.

Feed additives represent the second-largest market segment, with a total market value of $8.3 billion in 2011. This segment is forecast to grow at a CAGR of 5% during the next five years and reach $10.6 billion by 2016.

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