15 Nov Global Animal Healthcare Market Valued over US$ 35.5 Bn in 2017 and Projected to Expand at CAGR of 6.5% Over 2017 to 2025
Precision Business Insights (PBI) in its report titled “Global animal healthcare market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 and Forecast 2018-2025” assesses the market performance over eight years forecast period over 2018-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
Market boosts and restraining factors
Major driving factors in animal healthcare market are increasing pet adoptions, high meat consumption rates, and well growth of vet industries in developing countries are expected to fuel animal health care market over the forecast period. Moreover, increasing prevalence of animal diseases, frequent seasonal disease outbreaks in farm animals, rise in investments on large-scale production of farm animals and their derivative products and meeting distinction between animal production and animal health by manufacturers are expected to bolster animal healthcare products market during the forecast period.
Increasing exploitations of medical feed and their complications, unawareness of animal diseases and their treatment regimen among few veterinarians and regulatory approval process are the major factors hampering animal healthcare market over the forecast period.
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North America is expected to dominate the animal healthcare market
North America animal healthcare market is dominated, owing to healthcare optimization in animals by government, increasing healthcare policies to control endemic and chronic disease conditions. In addition, susceptibility towards microbial infections from animals which leads to adoption of preventive methods and vaccinations in both companion and farm animals, increasing government initiatives and advertisements to create an awareness on zoonotic diseases and their treatments are other major factors rising the market share of North America over the forecast period.
Europe close trail to North America owing to increasing prevalence of animal diseases:
Economy burden with animal diseases to both public and animal welfare organizations, and their significant impact on socio-economy conditions in low income generated countries are the major reasons to increase the government awareness programs and continues supply of animal health products in these countries are expected to increase market value during the forecast period.
Owing to large animal populations and continues attack of several communicable diseases are expected to register significant CAGR value in Asia-Pacific animal healthcare market during the forecast period.
The Middle East and Africa region witnessing robust growth in animal healthcare owing to the availability of cheap drugs imported from Asia and Europe regions.
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Fund Rises, Technological Encroachments and Tactical Coalitions are the Key Strategies Adopted by Animal Health Market Players:
Findings and investments across the globe for animal health care products, global diseases eradication programs by governments and private organizations, and proactive preventive actions are also expected to bolster market value in current and future time.
There are several local and multinational players involved in the market, increasing product portfolio and technological advancements from these players, small player’s products and their technologies acquisitions to compete with regional players are fueling the market growth during the forecast period.
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.
The global animal healthcare market is segmented based on product type, animal type, distribution channel, and regions.
Some of the players in the Veterinary Animal Healthcare Market include
- Boehringer Ingelheim Gmbh
- Zoetis Inc.
- Merck & Co. Inc.
- Bayer Animal Health
- Virbac SA
- Ceva Sante Animale
- Vetquinol SA
Key development in the global animal healthcare market
In January 2017, Jaguar Animal Health and Elanco Entered into global collaboration for development and co-promotion of Canalevia, a Jaguar’s drug product candidate under investigation for treatment of acute and chemotherapy-induced diarrhea (CID) in dogs.
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By product type
- Anti-inflammatory Drugs
- Drugs for Chronic Diseases
- Feed Additives
- Nutritional Feed Additives
- Medicinal Feed Additives
By animal type
- Farm Animals
- Companion Animals
By dosage form
- Veterinary Pharmacies
- Veterinary Hospitals
- Veterinary Clinics
By geographical regions
- North America
- Latin America
- The Middle East & Africa
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