Animal Healthcare Market Size By Pharmaceuticals (Ectoparasiticides, Endoparasiticides, Anti-inflammatories, Anti-infectives), By Vaccines (Poultry, Cattle, Swine, Equine, Dogs, Cats, Horses), By Medicated Feed Additives( Antibiotics, Vitamins, Amino acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals), By Animal Type ( Farm Animal And Companion Animal), Regional Outlook (U.S., Canada, Germany, UK, Spain, Italy, France, Poland, Netherlands, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Technology Development, Competitive Landscape & Forecast, 2017 – 2024
Published Date: July 2017 | 180 Pages | Report ID: GMI735 | Report Format: PDF
Animal Healthcare Market valued above USD 26 billion in 2016 and is projected to grow with a CAGR of nearly 4% during the forecast period.
Europe Animal Healthcare Market, 2013-2024 (USD Million)
Rapidly increasing pet adoption, growing need to control zoonotic diseases spread and advances in drug development for effective animal health will drive global animal healthcare industry.
Favorable government initiatives and growing disposable incomes in the emerging regions will enable people to adopt pet animals and spend on their healthcare. The trend of pet keeping is likely to continue over coming years resulting in rising demand for various pet animal healthcare products.
Widespread implementation of animal vaccination programs and mandatory animal vaccination in certain countries will propel business growth. Furthermore, development of new biologicals and drugs will witness significant industry growth.
Growing demand for animal source protein should boost animal farming over the coming years. Increasing R&D focus for development of drugs for pet cancer will fuel forecast industry growth. However, increasing incidences of zoonotic diseases in human due to consumption of food animals will restrain industry growth
Animal Healthcare Market, By Pharmaceuticals
Antiparasitics and anti-infective drugs tend to the major contributors to animal pharmaceuticals market size. Increasing need to keep food animals’ disease free will drive the industry growth over coming years.
Pet medicines are in great demand in the recent times. Growing awareness among pet owners regarding prevention of pet diseases will increase drug consumption over the forecast years. Additionally, increasing drug development by key industry players should make the market more lucrative in the coming years.
Animal Healthcare Market, By Vaccines
Vaccines have gained significant importance in recent years owing to shift of trend towards disease prevention resulting into development of several prophylactic vaccines. Trading of animals or their meat for consumption will increase worldwide vaccine demand.
Government vaccination programs such as schedule vaccination program for dogs should fuel the companion animal vaccine demand. Increasing developments in pet vaccines should spur the industry growth over the forecast years.
Animal Healthcare Market, By Medicated Feed Additives
Medicated feed additives market is poised to become a major contributor in coming years owing to its soaring use to product disease free animals. The demand for medicated feed additives projected to witness highest CAGR over the forecast years.
However, prohibition on the usage of antibiotics and antimicrobials mainly in the U.S. and the Europe should hinder the business growth. Some of the prominent countries such as UK, France, Germany have restricted the usage of several antibiotics in animal feed; as a result, the antibiotics feed market may continue to decline over the coming years.
Animal Healthcare Market, By Animal Type
Up-surging demand for animal protein due to increasing consumption of meat is a major growth rendering factor for farm animal market size. With objective to scale up production of healthy animals, the use of various animal healthcare products such as drugs, biologicals and medicated feed additives has been increasing considerably. Along with the ever-growing population, the demand for animal meat will certainly rise in years to come, resulting in market growth.
Pet animal healthcare market is positioned to expand rapidly over the coming years. Globally, the pet adoption rates are soaring as people opt for animal companionship. With increasing disposable incomes of pet owners, spending on pet healthcare should increase than ever before.
Animal Healthcare Market, By Region
Europe animal healthcare market share accounts for more than 25% of the industry revenue in 2016. The regional industry participants are significantly spending on R&D activities to develop better animal healthcare solutions. UK is amongst the leading regional animal healthcare markets in 2016. Restriction on use of antimicrobials should hamper the industry growth over the forecast period.
Extensive animal husbandry practices fuel Indian market growth. The country is a home for more than 10% of global livestock population and ranks among the largest producers of cattle, chicken and fish. Rising awareness about animal health should boost demand for animal healthcare products. Many industry players are venturing this market with an objective to explore and exploit lucrative growth opportunities.
China market is projected to grow at over 10% CAGR over the forecast years. Favorable government initiatives regarding pet keeping, increasing disease awareness among pet owners and advances in new product development should drive regional industry growth.
Competitive Market Share
Some of the key industry players contribute to significant animal healthcare market share in 2016. The leading players manifest intense competition to gain maximum business share. Product differentiation, new product launches, geographic expansion and merger and acquisition are some of the strategies adopted by these industry participants.
Animal Healthcare Industry Background
The animal healthcare industry has recently evolved rapidly in terms of product development and coverage of broad categories of animals. It has been consistently dominated by established and giant pharmaceuticals companies. However, new specialised animal healthcare companies have been shaping up lately by offering treatments to wide array of diseases in companion as well as farm animals. Increasing awareness of pet owners about the diseases and availability of drug treatments will boost animal healthcare market. The growing role of livestock farming will play a significant role in food security over the coming years.
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