Rising Number of Zoonotic Infections to Take Animal Healthcare Market Forward | Major Key Players are Merck & Co. Inc., C.H. Boehringer Sohn AG & Co. KG, Bayer AG, Virbac Group

animal healthcare market is expected to reach $42,926.7 million by 2023, registering a significant increase in its revenue from $31,637.0 million in 2017. The drivers of the market are the rising prevalence of food-borne zoonotic diseases, increasing rate of adoption of companion animals, and growing consumption of meat and milk. The components, such as medicines, nutritional supplements, and other pharmaceutical needs, required in taking appropriate care of the companion and farm animals is termed as animal healthcare.

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Based on product, the categories of the animal healthcare market are anti-inflammatories, anti-infectives, parasiticides, vaccines, feed additives, and others, which include sedatives for pain relief, drugs for reproductive problems, and oncological and antiemetic products. In 2017, the largest revenue share of more than 40.0% was held by the feed additives category. This category is expected to continue maintaining its dominance in the market in the forecast period due to the rising global consumption of animal-derived products and the increasing feed production.

The bifurcations of the animal healthcare market based on animal type are companion animals and farm animals. To meet the growing demand for animal-based products, farm animals were adopted at a large scale, which contributed the larger revenue share to the market in 2017. The bifurcation of farm animals is further divided into fish, poultry, swine, and ruminants. Among all, the largest revenue share of more than 44.0% was held by the division of ruminants in 2017. This was attributed to the surging demand for dairy and meat products.

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The animal healthcare market is observing the trend of the inclusion of internet of things (IoT) in monitoring of the animal health. Farmers are nowadays, using different types of mobile sensors for monitoring animal health by placing them on an animal’s body. The sensors have been included in the wearables, which help in gathering information regarding animal behavior, injury, health, and other parameters to help increase animal productivity. These sensors also help in determining the fertility and lactation period of animals, and also in tracking their location, thereby preventing animal theft.

One of the major driving factors of the animal healthcare market is the rising consumption of meat and milk. The global consumption of animal-based food products has increased due to the rise in per capita income, population, and changing lifestyle. Further, due to the rising awareness regarding the benefits of a protein-rich diet, the demand for protein-rich foods, such as meat, milk, and eggs is rising across the globe. As many of the pathogens that infect animals also have the potential of infecting humans, the demand for animal healthcare products is witnessing a rise.

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The animal healthcare market may flourish even more in the coming years due to the increasing efforts in studying animal diseases. Every year, new pathogens or causative agents are identified that affect the health of pet or poultry animals. Therefore, many pharmaceutical companies are focusing on developing medicines aimed at inhibiting the growth of pathogenic microorganisms. In recent times, nipah virus infection, bluetongue disease, and melioidosis have been rampant in different parts of the world; pharmaceutical companies are working to develop effective treatments for such diseases, as they can even spread to humans.

Therefore, the market for animal healthcare products is said to witness a remarkable growth in the forecast period due to the rising demand for animal-based products and the high adoption of pet animals.

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