Animal Hormones Market Size, Share, Demand & Trends Analysis Report 2032

Animal Hormones Market Insights

The global Animal Hormones Market size was valued at USD 17.46 Billion in 2023 and is predicted to reach USD 28.03 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.4% during the forecast period. The report analyzes the global Animal Hormones Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Animal Hormones industry.

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Animal Hormones Market: Overview

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.

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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 deficiencies like hypothyroidism, Addison disease, and for other indications.

The study provides a decisive view of the animal hormones market by segmenting the market based on application, animal type, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. Based on application the market is segmented into growth promoters, performance enhancers, and others.

The performance enhancers segment accounted for a major share of the market in 2023. Based on animal type the market is segmented into porcine, poultry, porcine, equine, aquaculture, livestock, and other animals. Poultry accounted for a major share of the market in 2023.

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 a global level. Rising incidences of hormonal deficiency like the Addison disease in animals are likely to boost the animal hormones market. Besides, rising animal husbandry, growing demand for pets, meat, and the outbreak of animal diseases are propelling the market for animal hormones.

Nonetheless ban on the use of certain animal hormones in the European countries like Sweden, the 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.

Animal Hormones Market: Report Scope

The regional segmentation includes the current and forecast demand for the Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries.

Some of the players included in the 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
• AB Vista.

The report segments the animal hormones market as follows:

By Application Segment Analysis

• Growth Promoters
• Performance Enhancers
• Others

By Animal Type Segment Analysis

• Poultry
• Porcine
• Livestock
• Equine
• Aquaculture
• Other Animals (Cats, Dogs, Rabbits, etc.)

By Regional Segment Analysis

• North America

  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa