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Description
Global Veterinary Healthcare Market Size:
The veterinary healthcare market estimated to be valued US$ 37.4 Bn in 2020 and poised to grow at CAGR of 4.9% over 2020-2026. The market for Veterinary Healthcare projected to reach US$ 49.3 Bn by 2026 due to increased adoption of companion animals in emerging and developed countries and rising consumption of meat across the globe.
Veterinary Healthcare Market Report Description:
This report gives a comprehensive outlook on veterinary healthcare market across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). The report gives historical, current, and future market sizes (US$ Bn) on the basis of product type, animal type, route of administration, distribution channel, and geographic regions. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, This report includes animal demographics; regulatory scenario, top meat-producing countries, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed veterinary healthcare market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the market report include suppliers, manufacturers, marketers, policymakers, and veterinary healthcare service providers engaged in manufacturing and supply of veterinary healthcare products.
Rising pet adoption and meat consumption expected drive veterinary healthcare market
The rising adoption of companion animals in emerging countries and increasing consumption of meat for dietary needs expected to fuel the market for animal healthcare products over the forecast period. Apart from aforementioned dynamics, factors like increased instances of disease outbreaks in animals, and large-scale production of animals in the form of factory farming expected to boost the animal healthcare market. Animals have long been considered as a source of food for the human being and it’s been shifting towards companionship to the humans. As there is a growing interaction between humans and animals prompting the key stakeholders to give attention to animal healthcare
Increasing incidences of zoonotic diseases prompting the adoption of veterinary healthcare products for various ailments in animals
The rising incidences of zoonotic disease in several developed and developing countries expected to create demand for animal healthcare products like drugs and vaccines over the forecast period. According to U.S. Centre for disease control and Prevention (CDC) every year tens of thousands of people get sick due to disease spread from animals to humans and it is believed that more than six out of every 10 known infectious diseases in people are spread from animals, and three out of every four new or emerging infectious diseases in people are spread from animals, which can be prevented by appropriate health care to animals.
North America accounts for larger market revenue share in the global market
North America accounted for larger revenue share in global animal healthcare market with moderate CAGR. There has been increasing awareness among cattlemen in U.S. regarding animal rearing, animal health and proper vaccination and judicious use of antibiotics in animals, which are driving the market revenue growth in the region. Asia Pacific market projected to grow at significant rate owing large pool of animal population coupled with increased incidences of several zoonotic diseases.
Competition Assessment
Key players profiled in the global veterinary healthcare market include:
- Bayer AG (Germany)
- Boehringer Ingelheim GmbH (Germany)
- Cargill, Inc. (U.S)
- Ceva Santé Animale (France)
- Eli Lilly and Company (U.S)
- Koninklijke DSM N.V. (Netherlands)
- Merck & Co., Inc. (U.S)
- Novartis AG (Switzerland)
- Nutreco N.V. (Netherlands)
- SeQuent Scientific Ltd. (India)
- Vétoquinol S.A. (France)
- Virbac S.A. (France)
- Zoetis Inc. (U.S)
Animal Healthcare Market is consolidating as large players complementing each other’s businesses by means of mergers and acquisitions. For instance, in June 2016, Sanofi swapped animal health business (“Merial”) with Boehringer Ingelheim’s consumer healthcare (CHC) business, this helped both organizations to better align the future growth objectives. Moreover, players in the animal healthcare market coming up product innovation to garner larger market share in the market. For instance, in 2014, Merial launched NextGaurd form a soy-based chew with an irresistible beef flavor for flea and tick control in dogs.
Key Findings of the Report:
- Global Veterinary healthcare market expanding at 4.9% CAGR over 2020 to 2026 to reach market value of US$ 49.3 Bn by 2026 owing to increased adoption pet animals and rising meat consumption
- Based on product type feed additives accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Farm animals segment garnered larger revenue share in global 2016 owing to increased animal rearing in several developing and underdeveloped countries
- Players focusing on mergers and acquisitions strategies to retain market position in global animal healthcare market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015 – 2019) and Forecast (2020 – 2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Detailed Segmentation
By Product Type
- Drugs
- Antibiotics
- Antifungal
- Ectoparasiticides
- Endoparasites
- Endectoparaciticides
- Anti-inflammatory Drugs
- Drugs for Chronic Diseases
- Others
- Vaccines
- Feed Additives
- Nutritional Feed Additives
- Medicinal Feed Additives
By Animal Type
- Farm Animals
- Livestock
- Poultry
- Swine
- Equine
- Companion Animals
- Feline
- Canine
- Avian
- Aquaculture
By Route of Administration
- Oral
- Parenteral
- Topical
- Others
Distribution Channel
- Veterinary Pharmacies
- Veterinary Hospitals
- Veterinary Clinics
- E-Commerce
Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Venezuela
- Rest of Latin America
- The Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
Location
GEOGRAPHY
