Animal Healthcare Market Trends & Industry Major Players are Bayer Animal Health, Zoetis Inc., Merck, Elanco, Boehringer Ingelheim Animal Health, IDEXX, CEVA SANTE ANIMALE, Virbac, Phibro Animal Health, Vetoquinol Global

Pfizer’s spun out Zoetis, the most renowned name in animal healthcare industry, has set another milestone in the animal health fraternity by its acquisition of Nexvet, an Irish biological therapeutics company. The pact has further strengthened Zoetis’ position in animal healthcare market by building a strong solution pipeline for the company to sustain its leadership in chronic pain management for companion animals. This trend itself bears a testimony to the fact that the escalating pet ownership rate is indeed creating a remarkable impact on animal healthcare industry trends.

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Growth Drivers:

1. Growing trend of adopting pet animals
2. Rising prevalence of food borne and zoonotic diseases
3. Favorable government initiatives
4. Rapidly increasing demand for animal protein in human food
5. Technological advancement in development of animal health drugs

Increasing companion animals adoption rate ~ Animal healthcare market growth:

As per the estimates, more than 65% of the U.S. households have pets, a number that is projected to increase exponentially over the coming years. U.S., on this ground, reveled the largest share in the animal healthcare industry in 2016. The region is further claimed to exhibit commendable growth prospects in the coming timeframe, driven by technology breakthroughs in pharmaceuticals and veterinary medicines sectors. China will further establish strong foothold in animal healthcare industry, driven by favorable government norms supporting pet keeping coupled with advancements in veterinary drugs. As per the estimates, China is estimated to register a CAGR of 10% over the period of 2017-2024.

Changing animal husbandry trends to dynamically influence animal healthcare market demand:

The technological innovations have led to a paradigm shift in the animal husbandry pattern. The animal health companies have also embraced this change which is vividly reflected in their business approach which has traversed a long way from therapeutics, to productivity enhancement, and ultimately to the overall animal healthcare.

India, on account of intensive animal husbandry practices, is slated to witness phenomenal gains in animal healthcare market. As per the estimates, the country accounts for 10% of the overall livestock population and holds the title of the largest producer of fish, chicken, and cattle. The region on account of its rich livestock base is rapidly turning into a profound investment destination for the animal healthcare industry players.

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Increasing global population to chart a lucrative roadmap for animal healthcare market:

With the rising population, the global meat and dairy consumption rate is set to increase parallelly. It is estimated that in order to feed the world in 2030, the overall animal protein production has to be increased by approximately 30% from what it is at the present. This scenario vividly demonstrates the importance of veterinary drugs and medicines in animal disease prevention and animal health management approach.

Europe, driven by France and U.K., is anticipated to witness a high demand for animal derived pharmaceutical proteins over the coming years, which will indeed make this region a strong ground witnessing animal healthcare market expansion. As per the estimates, the region held 25% of the overall market share in 2016.

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