Animal Health Market (By Animal Type: Production Animal, Companion Animal; By Product Type: Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Others; By Distribution Channel: Retail, E-commerce, Veterinary Hospitals & Clinics; By End Use: Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The global animal health market is anticipated to grow at a CAGR of around 6.0% during the forecast period 2020 to 2027 and to reach around US$ 66.1 Bn by 2027.

Market Dynamics

Rising disposable income, high spending capacity of consumers on pet health and nutrition is a major factor expected to drive the growth of the global market. There is gradual increase in number of consumer adopting pet. They are spending high on pet health and wellness which is resulting in demand for nutritional food and supplementary product. Manufactures are focused of providing various innovative products.

High spending by the major players for R&D activities, coupled with innovative product offerings is another factors expected to further augment the growth of target market. Major players are investing high for product development their approach towards providing various vaccines, painkillers, and antibiotics. Players approach towards innovative product offerings and high spending on strengthening the distribution channel is supporting the target market growth.

  • In 2019, Zoetis received approval from FDA for Simparica TrioTM (sarolaner, moxidectin, and pyrantel chewable tablets), the first once-monthly, chewable tablet in the U.S. that delivers all-in-one protection from heartworm disease, ticks and fleas, roundworms and hookworms. This will help the company to strengthen their position in the US market.

In addition, strategic mergers and acquisitions activity by the players in order to increase the customer base and enhance the product portfolio is another factor expected to further impact the target market growth.

  • In 2020, Zoetis acquired Ethos Diagnostic Science, a veterinary reference lab business that is dedicated to serve leading specialty animal hospitals, the greater veterinary community and researchers with accurate, reliable results. This will help the company to strengthen its position in diagnostics and offer comprehensive and enhanced value to veterinarians in the US market.

However, stringent government regulation related to product approval and lack of standard regulations related to drugs is factor expected to hamper the growth of the global market. In addition, lack of developed infrastructure for R&D activities in developing countries is expected to challenge the growth of target market.

High spending by the players for R&D activities and innovative product offerings are factors expected to create new opportunities for players over the forecast period. In addition, consumer inclination towards point-of-care testing/in-house testing is resulting in introduction of innovative product further supporting the revenue traction of the target market.

Animal Health Market Segment Analysis, 2019

The global market is segmented in to animal type, product type, distribution channel, and end use. The distribution channel segment is bifurcated into retail, e-commerce, and veterinary hospitals & clinics. Among the end use the point-of-care testing/in-house testing is expected to witness faster growth over the forecast period.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to rising number of pet owners, coupled with demand for nutritional food products. In addition, major players focus on business expansion through strategic partnerships and agreements are factors expected to impact the target market growth in this region.

Asia Pacific is expected to witness faster growth in the near future owing to high government spending on development of present animal healthcare infrastructure. In addition, major players approach towards emerging economies in order to increase the profit ration is expected to further support the growth of the target market.

Competitive Landscape

Presence of large number of players operating on regional and international level is increasing the competition. In addition, business development activities and new product offerings are factors further augmenting the market competition. In addition, introduction of cost-effective products from regional players is forcing major players to operate on lower profit ratio making it difficult for players to operate further increasing the competition.

Report coverage

Market

 Global Animal Health Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Animal Type, Product Type, Distribution Channel, End Use and Geography

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

 

The market research study on “Animal Health Market (Animal Type: Production Animal and Companion Animal; Product Type: Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, and Others; Distribution Channel: Retail, E-commerce, and Veterinary Hospitals & Clinics: End Use: Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global animal health market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global animal health market, animal type, product type, distribution channel, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global animal health market size and segment markets by animal type, product type, distribution channel, end use and geography along with the information on companies operating in the market. The animal health market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Consort Merck Animal Health, Ceva Santé Animale, Zoetis, Virbac, Vetiquinol S.A., Heska Corporation, Boehringer Ingelheim GmbH, Bayer AG, Elanco, and Nutreco N.V.

Market Segmentation

Market By Animal Type

Production Animal

  • Poultry
  • Swine
  • Cattle
  • Sheep & Goats
  • Fish

Companion Animal

  • Dogs
  • Cats
  • Horses
  • Others

Market By Product Type

Vaccines

  • Live Attenuated Vaccines
  • DNA Vaccines
  • Recombinant Vaccines
  • Inactivated Vaccines
  • Others

Pharmaceuticals

  • Parasiticides
  • Anti-infectives
  • Anti-inflammatory
  • Analgesics
  • Others

Feed Additives

  • Nutritional
  • Medicinal

Diagnostics

  • Instruments
  • Consumables

Others

Market By Distribution Channel

  • Retail
  • E-commerce
  • Veterinary Hospitals & Clinics

Market By End Use

  • Reference Laboratories
  • Point-of-care Testing/In-house Testing
  • Veterinary Hospitals & Clinics
  • Others

Market By Region

North America

  • US
  • Canada

Europe

  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest if Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Meddle East & Africa


Frequently Asked Questions

Rising disposable income, high spending capacity of consumers on pet health and nutrition is a major factor expected to drive the growth of the global market.

The global animal health market size is expected to reach around US$ 66.1 Bn by 2027.

The global animal health market is anticipated to grow at a CAGR of around 6.0% during the forecast period 2020 to 2027.

Among the end use the point-of-care testing/in-house testing is expected to witness faster growth over the forecast period.

The market in North America is expected to account for major revenue share owing to rising number of pet owners, coupled with demand for nutritional food products.

Asia Pacific is expected to witness faster growth in the near future owing to high government spending on development of present animal healthcare infrastructure.

The players profiled in the report Consort Merck Animal Health, Ceva Santé Animale, Zoetis, Virbac, Vetiquinol S.A., Heska Corporation, Boehringer Ingelheim GmbH, Bayer AG, Elanco, and Nutreco N.V.

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