Veterinary - Companion Animal Health Market Size and Forecast Analysis 2016-2020
This report focuses on the global emerging demand for companion animal healthcare products. Conventionally the companion animal segment received low attention due to sheer lack of volume associated since only households with stable income. In 2012, U.S. households had approximately 160 million pets and spent close to US$ 500 annually on preliminary veterinary visits and can spend up to US$ 10,000 for taking care of serious illnesses. Surgeries such as cataract and insulin injections along with pain management medications are a regular norm now. Yet, this is a stark picture in front of the actual potential worldwide, since a significant percentage of households in developing countries and negligible number of welfare and adoption centres. There are over 10,000 animal shelters across North America and EU5, and maintain health of companion animals such as dogs and cats. The annual expenditure on healthcare products of a shelter housing 30-40 animals spends approximately US$ 50,000 annually to operate whereas large sized shelters that can handle over 1000 animals spend approximately US$ 500,000 each year. In emerging countries, awareness of animal illnesses is increasing drastically prompting significant expenditure for animal care.
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Key segments in this market include animal vaccines, nutrition and dietary products along with pharmaceuticals. In United States, the Dept. of Agriculture sets regulations for these products whereas in United Kingdom, the Veterinary Medicines Directorate (VMD) which is part of the Department of the Environment, Food and Rural Affairs (Defra). The VMD is also responsible for regulating and tracking drug resistance in animals. However, unlike drug resistance in humans which is found to be severe in several cases, the drug resistance in animals does not hold any clinical problems.
The overall market for companion animal health market is highly fragmented with well over 50 competitors that includes players such as Avian Biotech International, Dechra Pharmaceuticals, Elandco Animal Health, Merck & Co., Lohmann Animal Health, DuPont Qualicon, Virbac SA, Novartis Animal Health, Novus International, Elanco, Zoetis, Bayer Animal Health, Merial, Boehringer Ingelheim Vetmedica, Ceva Sante Animale, Vetoquinol, Biobest Laboratories and Ortho-Equine.
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Spearhead Acuity Business Research & Consulting Private Limited (SA-BRC) is a premium Life Science business intelligence and data analytics firm. SA-BRC team offers a wide range of business intelligence services to multiple stakeholders such as Medical Device Manufacturers, Service Providers (Hospitals, Payers, etc.), Suppliers, Group Purchase Organizations, Distributors and all other individuals in the entire value chain of healthcare industry. Our research and consulting capabilities extend across several sub-domains within the sphere of Life Sciences such as Biotechnology, Healthcare IT, Medical Devices, Veterinary Sciences, Wellness Products and Pharmaceuticals.
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