This report on the global animal healthcare market studies the market in terms of various product types and their applicability to different animal species. Animal healthcare has piqued the interest of many pharmaceutical companies in recent years, owing to the increasing global population and demand for protein-rich diets. It has become even more important because of the increased instances of animal disease outbreaks coupled with large-scale factory farming that requires high-quality animal feed additives, vaccines, and hygiene management products.
For the purpose of this study, the various product types studied include feed additives, pharmaceuticals, and vaccines. Feed additives are further segmented as medicinal feed (minerals, vitamins, and amino acids) and nutritional feed (enzymes, hormones, prebiotics, probiotics, immune modulators, and feed acidifiers). Pharmaceuticals are further segmented as endo parasiticides, ectoparasiticides, anti-inflammatories, and antibiotics. The animal types are segmented into production animals and companion animals. The geographic segmentation of the global animal healthcare market is performed for the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The regions are also further sub-segmented on the basis of major countries:
North America
U.S.
Canada
Europe
U.K.
Germany
Rest of Europe
Asia Pacific
China
Japan
Rest of Asia Pacific
Latin America
Mexico
Brazil
Rest of LATAM
Middle East and Africa
GCC
Rest of the Middle East and Africa
Market size estimates and forecasts for these segments are provided in US$ Mn, along with the respective CAGRs for the period 2017-2025, using 2016 as the base year.This report also includes qualitative assessment factors such as market dynamics (drivers, restraints, and opportunities) to have a good understanding of the current and anticipated trends in the global animal healthcare market. Competition assessment tools such as market attractiveness assessment and competitive landscape analysis by key players are also demonstrated in the study. Furthermore, this report concludes with a profile of key market players currently enjoying prominent positions in the global animal healthcare market. The key players profiled in this report are Zoetis Inc., Merck & Co., Inc. (Intervet), Eli Lilly and Company (Elanco/Novartis), Bayer Healthcare AG, Ceva Sante Animale, Virbac SA, Vetoquinol SA, Boehringer Ingelheim GmbH, Nutreco N.V., Sanofi S.A. (MERIAL Limited), Cargill Inc., and Evonik Industries.
Based on product type, the global animal healthcare market is categorized into:
Feed additive
Medicinal feed additive
Minerals
Vitamins
Amino acids
Nutritional feed additive
Enzymes
Hormones
Prebiotics and probiotics
Immune modulators
Feed acidifiers
Pharmaceuticals
Ectoparasiticides
Endoparasiticides
Anti-inflammatories
Antibiotics
Vaccines
The global animal healthcare market is gaining momentum due to growth factors such as the rising consumption of milk and meat around the globe, the rising prevalence of zoonotic and food-borne diseases, and their transfer to humans through consumption. Feed additives hold the largest market in the product segment due to the swiftly growing animal population and the increase in the number of factory farms to supplement agriculture. It is further segmented into nutritional feed, which is given to production animals for their optimal growth, and medicinal feed, which is helpful in targeting and curing particular diseases.
Pharmaceutical products will be the fastest-growing market in the product segment due to the increase in animal diseases such as bird flu, Brucellosis, and anthrax, and for curing reproductive problems. Overall, the global animal healthcare market is highly competitive with the presence of multiple players like Zoetis, Inc. (Pfizer), Merck & Co., Inc. (Intervet), Eli Lilly and Company (Elanco/Novartis), Bayer Healthcare AG, Ceva Santé Animale, Virbac S.A., and Vetoquinol S.A., each specializing in their respective fields. Consolidation activities are being increasingly witnessed on the competitive front with a view to increasing the technological advancement in the production and R&D of feed additives, pharmaceuticals, and vaccines for better animal health and making them available at a low cost.
Based on animal type, the global animal healthcare market is categorized into:
Production animals
Companion animals
Animal healthcare has become of prime importance due to factors such as rising public awareness regarding animal health, increasing government expenditure to grow R&D for animal healthcare, and the increasing number of zoonotic diseases. Currently, production animals hold the largest market in the animal type segment due to the rise in milk and meat products and government initiatives to promote their rearing, which acts as an additional source of income for poor farmers. Companion animals will be the fastest-growing market in the animal type segment due to factors such as increased adoption of pet animals in developing nations due to increased imitation of western culture and other lifestyle changes, their use to guard property, and the rise in animal bites, which has led to mandatory immunization of pet animals, which also contributes to the overall growth of the global animal healthcare market.
For the purpose of this study, the global animal healthcare market is categorized into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
North America was observed as the largest market for animal healthcare. According to the Centers for Disease Control and Prevention, each year, 3 out of every four emerging infectious diseases in people are spread by animals. Children under the age of 5, pregnant women, and the geriatric population are at higher risk of serious illness from zoonotic diseases. The market's growth is mainly attributed to the increased population of animals, rising demand for protein-rich diets (milk, meat, and eggs), and rising incidence of animal diseases. Europe is expected to be the second-largest market due to high awareness related to animal healthcare and government grants to strengthen R&D facilities to promote animal reproduction and health.
The growth of the Asia Pacific market for animal healthcare is attributed to factors such as the rising prevalence of zoonotic diseases, a competitive market due to manufacturers involved in the production of animal feed, medicines, and vaccines, a mandate for animal immunization by regulatory authorities, and higher disposable income to keep pets and companion animals in this region. However, factors such as developing veterinary R&D, increasing public awareness regarding animal health, and a huge demand for Halal meat are going to fuel the rapid growth of the animal healthcare market in Latin America, the Middle East, and Africa in the near future.
Frequently Asked Questions:
The market for Animal Healthcare Market is expected to reach US$ 53,420 Mn By 2025.
The Animal Healthcare Market is expected to see significant CAGR growth over the coming years, at 5.6%.
