Animal Healthcare Market

Global Market Study on Animal Healthcare: Industry Growth to Be Driven by Veterinary Hospitals

  • May-2021
  • PMRREP2882
  • 332 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Key Questions Answered in Report

  • What is the expected growth rate for the animal healthcare market through 2031?

    By value, Persistence Market Research has projected over 4% CAGR for animal healthcare product sales during 2021-2031. In terms of revenue, the market is expected to surge from US$ 37.2 Bn in 2021 to US$ 56.2 Bn in 2031.

  • Which is the most lucrative market for animal healthcare?

    The United States is the largest market for animal healthcare, holding 30% share of the global market and 85% share of the market in North America.

  • Which are the leading companies in the animal healthcare landscape?

    Tier-1 players hold around 56% share in the global market, and include companies such as Bayer Healthcare AG, Ceva Santé Animale, Virbac S.A, Vetoquinol SA, Boehringer Ingelheim GmbH, Nutreco N.V., and Sanofi S.A. (MERIAL Limited).

Find Out More about the Report Coverage

Companies

  • Bayer AG
  • BoehringerIngelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd.
  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animale

Report Also Addresses:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Animal Healthcare and How to Navigate
  • Recommendation on Key Winning Strategies

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Demand for Animal Healthcare from 2016 to 2020 Vs Projections for 2021 to 2031

Historically, from 2016 to 2020, use of animal healthcare products increased at around 4% CAGR, wherein, developed countries such as the U.S., Canada, Germany, and the U.K. held significant share in the global market.

The market is majorly boosted by considerable increase in the need for protein food and rise in occurrence of food-borne and zoonotic diseases across the world. This remarkable increase in disease occurrence has prompted companies to manufacture advanced pharmaceuticals and vaccines.

Additionally, with increase in the amount of livestock, interest for appropriate animal health monitoring solutions has risen all around the world. As per FAO, livestock represents roughly 40% of worldwide agricultural output.

Rising initiatives by different governments across regions have enhanced animal healthcare and led to the growing interest in veterinary vaccines. For example, in 2019, the Food and Agriculture Organization of the United Nations (FAO), in association with the Ministry of Fisheries and Livestock, introduced a cattle vaccination drive in the territories of Kwilu and Kwango in the Democratic Republic of the Congo.

Considering these statistics and shift in dynamics, the market for animal healthcare is forecast to expand at a healthy CAGR of more than 4% over the coming 10 years.

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What are the Key Opportunities for Animal Healthcare Product Manufacturers?

With increase in incidence of diseases in animals and growth in animal population, there has been expanded concentration on the development of drugs for animal care. Various animal diseases arise each year, which provides opportunities for medicine-manufacturing companies to launch developed animal health products.

Consequently, companies are effectively funding research & development for the treatment of new and prevailing animal diseases. Diseases such as the Nipah infection (NiV) disease, porcine, bluetongue, melioidosis, and respiratory and reproductive syndromes are far and wide nowadays, and are providing lucrative opportunities for major market players.

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What is the Impact of Market Consolidation on This Space?

As there is consolidation in the market, major players are concentrating on acquisitions and mergers to explore lucrative opportunities. Leading players are additionally concentrating on enhancing their commercializing efforts by following administrative guidelines. These trends are being effectively followed across all regions of the world.

  • For instance, in July 2020, Fish Vet Group was acquired by Zoetis, a company that commercializes and develops fish vaccines, and also provides vaccination and diagnostics services for aquaculture. This acquisition has led Zoetis to develop its geographical presence and improve diagnostics and testing expertise in major aquaculture markets across the world.

Country-wise Analysis

What Makes the U.S. the Largest Market for Animal Healthcare?

The market size of U.S. is estimated to be around US$ 10 Bn in 2021 due to increase in the number of pet animals over the last few years.

The Society for the Prevention of Cruelty to Animals, in Los Angeles, published that the amount of adoption almost doubled in June 2020, with every day adoptions of around 10 to 13. This increasing adoption of pets is boosting the development of the market for animal healthcare in the country.

As indicated by APPA (American Pet Products Association, Inc.), around 67% of U.S. residents owned a pet in 2019 in contrast with 56% in 1988. Rising number of pet owners, technological advancements, and increasing occurrence of zoonotic diseases are projected to drive market development.

Why is Demand for Animal Healthcare Products Flourishing in the U.K.?

The market size of the U.K. was valued US$ 1.3 Bn in 2020, and is expected experience lucrative growth during the forecast period. U.K.'s animal healthcare market has been exhibiting strong development since the last decade in terms of usage of developed technologies, including artificial intelligence (AI), genomics, and biotech.

Different strategic developments are leading the country's animal healthcare industry in a positive direction. This can be clearly seen from the acquisition of Simply health by Premier Vet Alliance (PVA) in November 2020. Because of this acquisition, a worldwide pet healthcare plans supplier will move Simply health’s 2,000 facilities to its pet healthcare plan portal.

In addition, companion and veterinary animal spending in the U.K. reached more than US$ 6 billion in 2019 up from around USS 4 billion in 2016.

How Will Increasing Uptake of Technology in Animal Husbandry Surge Demand for Animal Healthcare in India?

The market in India is expected to show lucrative growth and expand at a CAGR of over 7% through 2031. Major factor driving the market is the flourishing animal husbandry in the country.

Animal husbandry significantly adds to the GDP of India. This can be attributed to the agriculture-based culture as a major part and backbone of the economy. Rural individuals and also some people in metropolitan areas rely on cattle such as goats, buffaloes, and cows that give meat and milk.

With increasing focus on the quality of animal products, small and big companies are entering the market, and animal husbandry is becoming technology-driven. This will lead to a lot of focus on controlling episodes of old and new animal diseases, aiding market expansion.

What Factors Make China a Lucrative Market for Animal Healthcare?

The market in China is estimated to be valued US$ 2 Bn in 2021, and grow at a rapid rate. China’s animal healthcare industry is basically boosted by increasing popularity of pet ownership, more spending on animal healthcare, and increasing awareness about different treatments available for animal diseases.

In the recent past, there has been a sharp rise in the adoption of cats and dogs across the country. As indicated by the National Bureau of Statistics of China, it has been assessed that China is the third-biggest nation as far as dog ownership is concerned, with 27.4 million pet dogs, standing after the Brazil and the United States, with around 35.7 million and 55.3 million dogs, respectively.

Category-wise Insights

Why is Demand for Parasiticides Continuously Rising?

Based on drug, parasiticides are leading the market and are expected to hold more than 23% share of the revenue over the forecast period. The worldwide market is boosted by rising focus on animal health against the backdrop of increasing adoption of pets and concerns about the safety of food sources of animal origin.

Customer tendency toward animal-derived food products, inflowing ventures from privately-owned businesses, and increasing concerns with respect to zoonotic diseases are key elements boosting the development of the global market for animal healthcare.

What’s the larget Share of Farm Animals in the Animal Healthcare Industry?

The farm animals segment represented the largest market share of US$ 21.2 billion in 2020, prompted by increase in the amount of farm animals across the globe. Factors such as rising meat consumption and increase in demand for animal-based products are adding to market development.

According to a USDA Foreign Agricultural Service (FAS) report, there has been rapid increase in worldwide beef consumption, from 127 billion pounds in 2015 to more than 134 billion pounds in 2018. Subsequently, increasing utilization of animal protein combined with rising interest toward dairy products will support product development.

Which is the Most Preferred Route of Administration for Animal Healthcare Products?

The oral route is the most preferred among all and held a share of around 45% in 2020. This is the most preferred route of administration and is also the most economic and convenient.

Solid dosage forms such as capsules and tablets have a higher level of drug stability and give accurate measurements. Oral drug delivery is the most favoured because of factors such as convenient to handle, non-invasive, high patient compliance, and not requiring particular sterile conditions.

Which is the Largest Distribution Channel for Animal Healthcare Providers?

Veterinary hospitals accounted for the largest share of 34.7% in 2020. This is due to different applications such as clinical toxicology tests, and therapy, and clinical pathology.

Availability of a broad range of diagnostic options along with treatments at veterinary hospitals is driving this segment. Moreover, rise in occurrence of zoonotic diseases brought about by climate change and globalization is relied upon to boost the need for diagnostic procedures, which will help further segment development.

Competitive Landscape

Persistence Market Research has profiled the following key animal healthcare product manufacturers in its report:

  • Bayer AG
  • Boehringer Ingelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd.
  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animale
  • Alivira Animal Health Limited
  • Vetoquinol S.A.
  • Zydus Animal Health
  • Norbrook Laboratories Limited
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC Norbrook Laboratories, Inc

There is consolidation in the market, with the presence of leading players operating in this space. Companies are aiming at strategic collaborations and acquisitions with other manufacturers to expand their product manufacturing and address the demand of an expanding patient pool.

  • In July 2020, Zoetis acquired Fish Vet Group, a company that develops and commercializes fish vaccines and also offers diagnostics and vaccination services for aquaculture. This acquisition helped Zoetis expand its geographical presence and enhance its testing and diagnostics expertise in major aquaculture markets around the world.

Manufacturers are also focusing on the expansion of their product portfolios by launching technologically advanced products and receiving approval from different government bodies.

  • In December 2020, Neogen Corporation launched its new Igenity Canine Wellness, a preventative care DNA screening tool for veterinarians. Such developments will help the company expand in the animal genetic testing industry.
  • In January 2020, Layn Corp. launched its TruGro MAX, a natural additive for animal feed that provides potent antioxidant support.

Similarly, recent developments related to companies manufacturing animal healthcare products have been tracked by the team at Persistence Market Research, which are available in the full report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic Countries
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia
  • New Zealand
  • South Africa
  • GCC Countries

Key Segments Covered

  • Drug
  • Animal
  • Route of Administration Distribution Channel
  • Region

Key Companies Profiled

  • Bayer AG
  • Boehringer Ingelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd.
  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animale
  • Alivira Animal Health Limited
  • Vetoquinol S.A.
  • Zydus Animal Health
  • Norbrook Laboratories Limited
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC Norbrook Laboratories, Inc

Report Coverage

  • Market Forecasts
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

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  • Is the market research conducted by Persistence Market Research?

    Yes, the report has been compiled by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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  • What are the sources of secondary research?

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Key Market Segments Covered

Drug

  • Anti-Infective Agents
    • Antibiotics & Antimicrobials
    • Anti-Fungal
    • Anti-Viral
  • Anti-Inflammatory & Analgesic Agents
  • Parasiticides
    • Endo-Parasiticides
    • Ecto-Parasiticides
    • Endectocides
  • Vaccines
  • Hormones & Substitutes
  • Nutritional Products
  • Others

Animal

  • Animal Healthcare for Companion Animals
    • Animal Healthcare for Cats
    • Animal Healthcare for Dogs
    • Animal Healthcare for Horses
  • Animal Healthcare for Farm Animals
    • Animal Healthcare for Ruminants
    • Animal Healthcare for Swine
    • Animal Healthcare for Poultry

Route of Administration

  • Oral Animal Healthcare
    • Tablets/Capsules
    • Liquids
    • Powders/Premix
    • Others
  • Parenteral Animal Healthcare
    • Liquids
    • Powder for Injection
  • Topical Animal Healthcare
    • Solutions (Spot-on, Pour-on)
    • Creams & Ointments
    • Intramammary Preparations
    • Others
  • Others

Distribution Channel

  • Animal Healthcare at Veterinary Hospitals
  • Animal Healthcare at Veterinary Clinics
  • Animal Healthcare at Pharmacies & Drug Stores
  • Others

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

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