Animal Healthcare Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2024
Increasing prevalence of animal diseases coupled with growing adoption of pet animals should drive the global animal healthcare market size. Rising disposable income of pet owners especially in developed regions will enable them to spend on pet healthcare leading to exponential animal healthcare market growth.
Increasing demand for animal source protein and animal healthcare products will escalate over the forecast years. With global population expanding at an alarming rate, the demand for animal source protein and animal healthcare products will only increase, resulting to more animal farming over the forecast timeframe.
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Favorable government initiatives to promote animal healthcare practices and rapid developments in the field of animal health medicine will serve as a high impact rendering factor over the forecast years.
Stringent regulations in many countries pertaining to use of antibiotics and antimicrobials in animal feed, high cost associated with animal testing and low out-of-pocket pet healthcare expenditure in developing countries will restrain the market growth over the coming years.
Animal parasiticides should witness high growth over the coming years owing to rising awareness about parasites and their ill-effects on animal and human health. Increasing use of parasiticides in growing number of farm and companion animals should drive the business growth.
Medicated feed additives should witness robust growth over the forecast years. Amino acids will hold the largest revenue share and is expected to remain the most popular medical feed additive owing to its ability to increase meat production.
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U.S. animal healthcare market held largest regional market share in 2016, owing to rising number of pet animals, high disposable incomes of pet owners, escalated awareness about animal health, availability of advanced medicines and presence of large number of established companies. Advancements in animal pharmaceuticals, biologicals and personalized pet medicines should continue to fuel the industry growth.
France animal healthcare market held largest regional share in 2016. Increasing demand for anti-infectives and endoparacitisides for prevention of zoonotic diseases should stimulate business growth. Growing use of animal derived pharmaceutical proteins will spur industry growth.
Some of the leading industry players include Zoetis, Merck, Elanco, Bayer, Boehringer Ingelheim, Virbac, Phirbo Animal Health, Ceva Sante Animale, and Vetoquinol. Merger and acquisition, new product development and geographical expansion are some of the strategies adopted by industry participants to gain market share.
Animal healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Animal Healthcare Market By Pharmaceuticals
Animal Healthcare Market By Vaccines
o Poultry vaccines
o Cattle vaccines
o Swine vaccines
o Equine vaccines
o Companion animal vaccines
Animal Healthcare Market By Medical Feed Additives
o Amino acids
o Feed enzymes
o Prebiotics and probiotics
Animal Healthcare Market By Animal type
o Farm animal
o Companion animal
The above information is provided for the following regions/countries:
• North America
• Asia Pacific
o South Korea
• Latin America
• Middle East and Africa
o South Africa
o Saudi Arabia
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