The global market for animal therapeutics and diagnostics totaled nearly $40.1 billion in 2016 and should total $47.9 billion in 2021, registering a compound annual growth rate (CAGR) of 3.6% for the period 2016-2021.
STUDY GOALS AND OBJECTIVES
The study includes information about significant products, players, issues and trends, and other information affecting the animal therapeutics and diagnostics market.
REASONS FOR DOING THE STUDY
The animal health industry is responsible for maintaining the health and productivity of the more than 3 billion livestock and more than 50 billion poultry worldwide and ensuring the wholesomeness and abundance of the food it produces. In addition, the industry must also cater to the health and well-being of companion animals. Despite this, the human healthcare market is 30 times larger than the combined market for all nonhuman species. The reality is that the global animal health market is very complex, operating under stringent and increasingly strict regulations similar to those for human health, yet the market opportunities are considerably smaller. In an increasingly risky environment for new product development, the difference between success and failure in the future usually lies in successfully identifying the next growth segment, developing the right product candidates and being the first to market. Despite all these risks, the industry continues to grow.
In contrast to human blockbuster-oriented pharmaceuticals, animal health is dominated by a large number of products with small revenues. Although there are hundreds of products offered in the animal health market, only a couple dozen products have sales exceeding $100 million per year. However, the industry continues to forge on. The fastest growing therapeutic categories are in the area of companion animals, specifically in the allergy and respiratory and arthritis and pain segments of the market.
A challenging aspect of the animal health market is within the animal food industry as consumers continue to express concern about the conditions under which their daily food is produced. Consumers are becoming more health conscious and demanding healthy and balanced diets. The growing trend of natural and organic food is creating a niche market opportunity for suppliers. By implementing a feeding plan that provides vitamins and supplements, consumers enjoy additional nutritional benefits. Additionally, healthy feeding results in minimized impact on the environment.
The information within this report is directed at the business and industry professional and is specifically designed to aid in the explanation, direction and future of animal health markets. The report focuses on providing the reader with an understanding of trends in the industry, market segments, market forecasts, leading players, market drivers and inhibitors.
SCOPE OF REPORT
This report is designed to be a helpful business tool that will provide a thorough evaluation of the animal therapeutics and diagnostics market. The geographical scope of this study is worldwide, with special interest for markets, trends and statistics by key geographical regions such as the United States, European countries and Brazil, Japan and Australia. The report identifies markets in four segments: vaccines, pharmaceuticals, feed additives and diagnostics. For the purpose of this study, diagnostics include products that are used at the point of care and are considered rapid tests or kits, in-clinic analyzers and imaging equipment. Each market segment provides detailed information based on product categories, use of products, forecasts and competitive analyses.
The information for this report was obtained through extensive primary research methods and supportive secondary data-collection methods. Primary methods included interviews with approximately 40 key executives, product managers and clinical specialists involved in the animal health industry. Secondary methods included published literature in the area of animal science and veterinary services, investment reports, company literature and various animal health journals.
All market data pertain to the global market at the manufacturers’ level. Data are expressed in current U.S. dollars. The base year of the report is 2016, with historical data provided for 2014 and 2015, and forecast data provided for 2021. Historical, base year and forecast data are provided for each market segment of the report. Competitor market share estimates are provided for each market segment for the 2016 base year.
Although this study provides information on a variety of products used to treat animals, it does not include a comprehensive list of all products available.
Table of Contents
3. Industry Overview
4. Issues Affecting The Market
5. Animal Vaccines
6. Animal Pharmaceutical Products
7. Animal Feed Additives
8. Animal Diagnostics
9. Market Summary
10. Patent Analysis
11. Company Profiles
For More Related Reports: Healthcare Market Research Reports
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