Animal Health Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Consumer Goods and Food and Beverages | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC198

Growing level of awareness among consumers towards zoonotic and various other communicable diseases spread by animals including tularemia, Q fever, rabies and others has in turn resulted in an increased demand for animal health products. Currently, the global population is strongly dependent on animal nutrition such as protein, meat, milk, eggs and others for their daily dietary needs. This is projected to result in an increase in overall prevalence of zoonotic diseases over the forecast period. The governments of various economies are providing special guidelines for the usage of animal health products to prevent zoonotic diseases, which is propelling the demand for animal health products in the generation of higher revenues and sales. 
 
The global animal healthcare market is majorly driven by factors such as rising adoption of companion animal such as pets. Pets such as dogs and cats are being adopted worldwide for several psychological and therapeutic benefits. Adoption of pet animals has witnessed a significant increase in the developing economies such as India and China owing to imitation of western culture and change in lifestyle. Moreover, rising prevalence of zoonotic and food borne diseases is expected to emerge as a potential concern in pet health. Brucellosis, an animal borne disease, is increasing across the globe which can cause abortion in animals. The bacterial infection due to this usually affects livestock animals such as cows and goats, hence resulting in the growth of overall animal health industry. With the increase in pet adoption, pet population and taming of pet animals, prevalence of animal bite cases have witnessed a surge, leading to an increased chance of transmission of diseases to human population. This is expected to drive the growth of global animal health market. Also, increasing population of production and companion animals is fuelling the global animal health market. The animals serving human population by providing companionship are termed as companion animals whereas animals serving mankind with milk, meat and other food products are termed as production animals. Rise in prevalence of new diseases in animals and their transfer through animal meat/milk consumption and companionship is fuelling the overall animal health market across the globe. However, regulations against the use of antibiotics for production animals as well as protest of animal activists against animal research are some key challenges in the global animal health market.
 
Animal health market in the U.S. contributed a majority share of the overall North America animal health market in 2015 and is projected to account for a relatively higher share due to growing consumer focus on feed additives and health and rapid adoption of companion animals. Increasing significance of livestock animals is further expected to accelerate the growth of North America animal health market over the forecast period. UK accounted for a majority share in European animal health market in 2015 owing to a rise in prevalence of zoonotic diseases such as anthrax, avian influenza and tularemia among others.
 
The global animal health market can be segmented on the basis of animal type, product type and geography. By animal type, the global animal health market can be segmented into companion animals and production animals. By product type, the global animal health market can be segmented into pharmaceuticals, vaccines, feed additives (nutritional and medicinal) and others. On the basis of geography, the global animal health market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific. Some of the prominent players in the global animal health market include Sanofi, Virbac, Ceva Sante Animale, Vetoquinol S.A., Zoetis, Inc., Eli Lilly and Company, Inc., Bayer AG Merck and Co., Perrigo Company plc and Boehringer Ingelheim among others.
 


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