The report on global animal healthcare market provides qualitative and quantitative analysis for the period of 2017 to 2023. According to the report the global animal healthcare market value is growing with a CAGR between 4.5 % to 5.1 % from 2017 to 2023. The global animal healthcare market size was totaled 35.09 Billion in 2016.
Animal healthcare has become a substantial focus area for many pharmaceutical players over past decade. This is due to progressive growth registered by global animal healthcare market. Growth in this market can be credible to animal disease outbreaks linked with large scale factory farming that requires superior quality animal feed additives, vaccines and hygiene management product. Rapidly increasing pet adoption, growing need to control zoonotic disease spread and advance drug development for effective animal health are the major growth driving factors in animal healthcare market. In addition, favourable government initiatives and growing disposable income in the emerging economies may results into pet adoption and spend on their health, thereby significantly contributing in overall growth of this market. More importantly, widespread implementation of animal vaccination programs with mandatory vaccination certain countries expected propelling growth in the years to come. Increasing incidences of zoonotic disease, however, in human due to consumption of food animals will hamper industry growth.
Global animal healthcare markets will have numerous growth opportunities during the forecasted period to grow significantly. This can be attributed to growing demand for animal source protein that consequently leads to animal farming and increasing R&D focus to develop new drugs for pet cancer.
The report segments the global animal healthcare market by pharmaceuticals type, by vaccines, by medicated feed additives, by animal type and by region. The market size of each segment has been provided in terms of value (USD) and volume (TONS). Market segmentation based on pharmaceuticals includes ectoparaciticides, endoparaciticides, anti-inflammatory, and anti-infective. On the basis of vaccines global market has been divided into poultry, cattle, swine, equine, dogs, cats and horse. Market segmentation based on medicated feed additives includes antibiotics, vitamins, amino acids, enzymes, antioxidants, prebiotics and probiotics, and minerals. And by type of animal market has been segmented into farm animal and companion animal.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
On the basis of geography, North America is the dominant region in global animal healthcare market closely followed by Europe. North America and Europe collectively accounted for the largest market share of more than 65% in 2015. Moreover, U.S., Canada, Germany, UK, Spain, France, Italy are the vital contributors from both of these regions. UK is one of the leading animal healthcare markets and witnessed high growth, due to which Europe likely to overtake North American market and dominate global market in the years to come. Asia pacific considered as most growth attractive market on account of highest production of meat in this region, and is consequently consume highest amount of feed additive. The region will emerge as most lucrative one by registering highest CAGR throughout the forecast period. This is due to contribution of China and India in the regional growth of Asia Pacific, as these two markets considered as most dynamic markets for meat production in the production.
The companies covered in the report include Zoetis, Inc. (Pfizer), Merck & Co., Inc. (Intervet), Eli Lilly and Company (Elanco/Novartis), Bayer Healthcare AG, Ceva Santé Animale, Virbac S.A, Vetoquinol SA, Boehringer Ingelheim GmbH, Nutreco N.V. and Sanofi S.A.