This report on global animal healthcare market studies the market in terms of various product types and their applicability on different animal species. Animal healthcare has been an area of interest for many pharmaceutical companies in the last few years due to the rise in global population and increasing demand for protein rich diet. It has become even more important because of greater instances of animal disease outbreaks coupled with large scale factory farming that requires high-quality animal feed additives, vaccines as well as 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 and probiotics, immune modulators and feed acidifiers). Pharmaceuticals are further segmented as (endoparasiticides, ectoparasiticides, anti-inflammatories, and antibiotics). The animal types are segmented as (production animals and companion animals). The geographic segmentation of the global animal healthcare market is performed for the regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa markets. The regions are also further sub-segmented on the basis of major countries.
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 profiling of key market players currently enjoying prominent position 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 Industires.
The global animal healthcare market is gaining momentum due to growth factors such as rising consumption of milk and meat around the globe, rising prevalence of zoonotic and food borne diseases and their transfer to human beings through consumption. Feed additives hold the largest market in the product segment due to swiftly growing animal population, 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 to target and cure particular diseases. The pharmaceutical products will be the fastest growing market in the product segment due to 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 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, Vetoquinol SA specializing in respective fields. Consolidation activities are being increasingly witnessed on the competitive front with a view to increase the technological advancement in the production and R&D of feed additives, pharmaceuticals and vaccines for better animal health and available at low cost.
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 increasing number of zoonotics. Currently the production animals hold the largest market in the animal type segment due to rise in milk and meat products and government initiatives to promote their rearing, which acts as additional source of income to 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 the developing nations due to increased imitation of western culture and other lifestyle changes, they are used to guard property and the rise in animal bites has led to mandatory immunization of pet animals which also contribute to the overall growth of the global animal healthcare market.
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 4 emerging infectious disease in people are spread from animals. Children under the age of 5, pregnant women and geriatric population are at higher risk of serious illness from zoonotic diseases. The market growth is mainly attributed to increased population of animals, rising demand for protein rich diet (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. Growth of Asia Pacific market for animal healthcare is attributed to factors such as rising prevalence of zoonotics, competitive market due to manufactures involved in production of animal feed, medicines and vaccines, mandate for animal immunization by regulatory authorities and higher disposable income to keep pet/companion animals in this region. However, factors such as developing veterinary R&D, increasing public awareness regarding animal health and huge demand for Halal meat are going to fuel the rapid growth of animal healthcare market in Latin America and Middle East and Africa regions in the near future.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Animal Healthcare market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
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Animal
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
