Animal Health Care Market Current Trends, Sales, Shares And New Opportunities Report 2022-2031

India Animal Healthcare Market Outlook 2031

The animal healthcare market in India was valued at US$ 869.54 Mn in 2021

The market in the country is projected to expand at a CAGR of 6.9% from 2022 to 2031

The animal healthcare market in India is anticipated to exceed US$ 1.36 Bn by the end of 2031

Report Overview: https://www.transparencymarketresearch.com/india-animal-health-care-market.html

Increase in Incidence of Zoonotic Diseases Drives India Animal Healthcare Market

The rapid spread of zoonotic diseases in India is a major challenge for healthcare practitioners. Factors responsible for rise in prevalence of zoonotic diseases are demographic changes, encroachment of land, and agricultural practices. Zoonotic diseases such as bovine encephalopathy & foodborne, vector borne, and waterborne zoonotic diseases affecting the growth of animals in India. Hence, preventive measures are being taken into consideration by the government to control these diseases affecting human population.

Continuous efforts to spread awareness about zoonotic diseases and their prevention by market stakeholders are responsible for animal healthcare market development in India. Rise in awareness about precautionary measures and availability of several treatment options are likely to drive the demand for animal healthcare services in the upcoming years.

Rise in Number of Online Veterinary Pharmacies in India

There is a rapid of expansion of retail and hospital pharmacies providing veterinary drugs, nutritional supplements, pet vaccines, etc. for effective treatment of various diseases and injuries in animals in India. Increasing number of eCommerce channels and online pharmacies in India is a largest opportunity for animal healthcare market players in India. There is a huge demand for animal medicines and other healthcare products for animals from online pharmacies due to their discounted prices, availability of products, and ease of transaction. Pet owners are taking care of their pets by buying routine vaccines, disease preventive medicines, and pharmaceutical drugs form online channels.

Increase in Government Support to Boost India Animal Healthcare Market

Market stakeholders are expected to witness tremendous growth opportunities in animal healthcare market due to rising investment by the Indian government to improve animal healthcare services. Stringent laws and regulations by the Indian government to promote awareness about animal health are driving the market in the country. Due to rising zoonotic and foodborne diseases in animals, government is investing in R&D activities to develop efficient vaccines. Several veterinary research laboratories are receiving financial grants from the government to help control the spread of diseases in animals.

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Moreover, vaccination facilities, veterinary healthcare services, and better treatment facilities are provided to better the health of animals in India. Many animal activists are fighting for animal rights, animal abuse, and illegal slaughtering of animals. Rising number of animal lovers, along with increasing government activities to promote animal health products are some of the ongoing trends in the animal healthcare market in India.

Need to Improve Health of Animals Drive Adoption of Telemedicine Tools

Increasing efforts by the government of India to spread awareness about telemedicine tools in the animal healthcare sector is creating value-grab opportunities for market players. Pet owners have adopted telemedicine practices and remote consultations with the help of digital products to keep an eye on the health of their beloved pets. Zoonotic and food-borne diseases, among others, which are prevalent on a large scale in India is expected to generate food security challenge in the country. Hence, various companies in the animal healthcare market are heavily investing in research & development activities to produce advanced vaccines, pharmaceutical drugs, pharmaceutical pet supplies, medical devices, etc. This factor is contributing to the development of companion animal healthcare market in India. All these factors have boosted the veterinary healthcare services as well in India.

Limited Access to Animal Healthcare Services Key Challenge for Market Growth in India

Companies in the animal healthcare market in India have managed to maintain fast revenue growth in spite of the massive disruptions caused by the COVID-19 pandemic. However, high costs and lack of access to animal healthcare services in India are expected to hinder market growth in the upcoming years. Limited availability of veterinary clinics in India is expected to hamper the growth for animal healthcare market in India. Market stakeholders and the Indian government are taking initiatives to launch innovative and cost-effective products to help veterinarians. Low access to animal healthcare services and lack of knowledge and awareness about animal health in some states of India, and rise in burden of various infectious diseases in animals are directly affecting market growth.

India Animal Healthcare Market: Overview

The animal health industry in India has played a vital role in safeguarding the animal husbandry interests. The technical review for veterinary products for registration in the country is carried out by the Department of Animal Husbandry and Dairying for the farm and companion animal products and the Department of Fisheries for the aqua products.

Animal healthcare in India has undergone significant changes in the past few years due to the adoption of innovative technologies for prevention and cure of diseases in farm and companion animals

Zoonotic diseases are naturally transmitted from animals to humans due to the consumption of contaminated food & water and exposure to the pathogen during preparation, processing, or by direct contact with infected animals or humans.

Rise in prevalence of zoonotic diseases and growth of the veterinary pharmaceutical industry are the major factors driving the animal health market in India

Increase in integration of IoT with animal health monitoring solutions and surge in usage of mobile sensors and wearables to monitor animal behavior and health propel the animal health market in the country

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Regulation of animal health products in India is under the control of the Veterinary Cell of CDSCO (Central Drug Standard Control Organization).

The biologicals and products related to veterinary healthcare are studied and evaluated by the Indian Institute of Veterinary Science (IVRI). The Department of AYUSH is responsible for bringing regulations for herbal and contemporary medicines meant for animal use.

Animal husbandry in India has undergone significant changes over the years due to the adoption of innovative technologies used for prevention and cure of farm and companion animals

There has been a paradigm shift in the business approach of animal health companies that have evolved from therapeutics to preventive to productivity enhancement and now to overall animal healthcare

Through new approaches, the animal health services and related industry has evolved and propelled the livestock and companion animal husbandry market. India's surge to the top of milk and egg production reinforces the significance of the animal health industry. The animal health industry is working together and strengthening animal husbandry in the country.

Rise in Prevalence of Zoonotic Diseases Drives India Animal Healthcare Market

Incidence rate and prevalence of zoonotic diseases have increased in India. This is most likely due to demographic changes, encroachment of land, and agricultural practices.

Zoonotic diseases such as bovine encephalopathy and foodborne, vector borne, and waterborne zoonotic diseases affect socio-economic status

Despite efforts in screening, prevention, and control, and the gathering and sharing of information learned through outbreak investigations and disease surveillance, zoonotic diseases have found a way to continue to affect the human population. However, there have been successful campaigns to limit the spread of zoonotic diseases and there is continuous effort to protect, educate, and aid the population in the fight against these diseases.

Significant Growth of Veterinary Pharmaceutical Industry to Propel India Animal Healthcare Market

Professionals of veterinary healthcare use veterinary drugs to treat diseases, injuries, and help the growth of animals. These are primarily used to cure diseases and prevent the spread of infectious diseases among animals. These drugs indirectly benefit human healthcare by restricting the spread of infectious diseases from animals to humans.

Pet ownership and awareness about diseases related to animals has shown positive impact on Animal Healthcare Market. People are forming strong emotional bonds with their pets, which results in a willingness to spend on care that maintains or improves their health, including veterinary healthcare and pharmaceuticals.

Bovine Segment Held Significant Share of India Animal Healthcare Market

Cattle are by far the most numerous type of livestock in India. The country is the leading milk-producer in the world, where dairying is considered a major source of livelihood for farmers.

There has been a major thrust by the government to boost milk production by supporting programs for increasing milk productivity, input suppliers, and access to organized milk processing sector

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Rise in Integration of IoT with Animal Health Monitoring Solutions Propels Market

Wireless methods include the use of Internet of Things (IoT), which is a growing intent-based information that allows trade and aims to provide a manner in which information related to animal health can be exchanged in a convenient and secure way

IoT is used for animal health care monitoring, which is important in order to reduce the risk of infection among animals. Animal health monitoring and proper animal husbandry can be conducted with this technology.

Usage of biosensors and wearable technologies is becoming increasingly important for animal health management. These devices can provide timely diagnosis of diseases in animals, eventually decreasing economic losses.

Zonal Outlook of India Animal Healthcare Market

South Zone accounted for the largest share of 33.19% of the animal healthcare market in India in 2021. The market in the South Zone is projected to expand at a CAGR of 6.5% from 2022 to 2031.

West Zone held the second largest share of 24.48% of the market in the country in 2021. The animal health market in West Zone is anticipated to expand at a CAGR of 7.1% during the forecast period.

Major Players Analysis

The animal healthcare market in India is consolidated, with a small number of key players accounting for majority of the market share. Most companies are making significant investments in comprehensive research and development.

Expansion of product portfolios and mergers & acquisitions are the key strategies adopted by the key players. The animal healthcare market in India is consolidated due to presence of large number of players. Key players operating in the market in India include

Pfizer plc

Sanofi SA

Novartis AG

Olympus Corporation

GlaxoSmithKline plc

Zydus Lifesciences Ltd.

Merck & Co., Inc.

Sun Pharmaceutical Industries Ltd.

Lupin Ltd.

Each of these players has been profiled in the animal healthcare market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

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