Global Market Study on Animal Healthcare Outlook
Published On : Sep 02, 2014
Global Market Study on Animal Healthcare Overview
As the number of animals continues to rise in categories of production and companion, the global animal healthcare market also continues to expand. Companion animals are those which people adopt for companionship at homes, in offices, and for guard-keeping purposes. The production animals are the ones which are reared for deriving meat and milk products. The global animal healthcare market is largely driven by diseases contracted by these animals and their transmission to humans through companionship or consumption of meat products. Some of popularly diseases seen in humans are Zoonoses, which is transmitted to directly or indirectly. The types of zoonatic diseases are (Salmonella, Anisakiasis, Brucellosis, and Campylobacter). Occurrence of these diseases in animals is due to drinking water or consuming food that is injected by pathogenic micro organism, parasites, and listeria. There is an increasing concern about food-borne and zoonatic diseases, which has alerted pet owners and farm owners to be extra careful about feeds given to animals. Brucellosis is an infection caused by bacteria, which is on a rise in U.S. It leads to still birth in animals, and is commonly seen in sheep and cows.
The factors affecting the growth of global animal healthcare market are strict regulatory framework by the government against the use of antibiotics in production animals, and protests, agitations, and legislation by animal right activists against animal research.
The report published by Persistence Market Research covers the whole of animal healthcare market, inclusive of micro and macro factors contributing to its growth in the coming years. The report provides its readers with a competitive landscape with the accurate data of company profiles of leading market players, their products and services, financial performances, and their strategic developments in the near future.
Market Segmentation for Global Animal Healthcare Market
The report is further segmented on the basis of product, animal type, and geography. Based on products the global market for animal healthcare is segmented into feed additives, pharmaceuticals, and vaccines. The market is further segmented in terms of animal type as production animal and companion animal. Geographically speaking, the market is divided into North America, Europe, Asia Pacific, and Rest of the World. These regions are further studied for market size they hold in each country.
Market Watch for Global Animal Healthcare Market
The global animal healthcare market was valued at $27,861.2 million in 2013. However, by the end of 2019 the market is expected reach $41,929.1 million, growing at a CAGR of 7.1% from 2014 to 2019. Feed additives segment holds the biggest market share amongst product segments in the animal healthcare market. This is followed by pharmaceuticals and vaccines. While the feed additives market continues to grow with the demand of production animals, the vaccines and pharmaceutical segments are growing due to the increasing number of animal diseases and the subsequent need for their proper immunization.
As of 2013, North America held the biggest market share with 31.7% sales, followed by Europe and Asia Pacific. Towards the end of 2019, North America is expected to lead the market, but it might also experience a drop due to increasing market in Asia Pacific region. According to statistics, the global animal Healthcare market in Asia Pacific witnessed a steady growth due rise in the number of both, production and companion animals. Following this, the region is expected to continue driving this market on the path of success. Additionally, rise in disposable incomes amongst developing nations such as India and China is encouraging pet adoption. This trend is further adding to the market of animal healthcare in these regions.
The global animal healthcare market is very tightly held by top 10 companies. The report studies these companies and profiles them for a better understanding of their functioning. The key industry players covered in this report are Novartis, Bayer, Merial, Merck, and Zoetis.
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