Here are five key points:
1. The market was valued at $28.99 billion at the end of last year.
2. From 2016 to 2024, the market is projected to increase at a compound annual growth rate of 2.7 percent.
3. The market is anticipated to hit $36.61 billion by 2024.
4. The report notes the market is highly fragmented and comprised of players of many sizes. Major market players include:
•Abbott in Chicago
•Pfizer in New York City
•Merck & Co. in Kenilworth, N.J.
•Bayer in Leverkusen, Germany
5. The Asia-Pacific region will likely experience high growth through 2024.
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