Animal healthcare is an act of preserving, guiding and protecting animals from diseases and providing them needful veterinary services with the aim of increasing their lifespan and yield.
The animal healthcare market has emerged as a market of very prime importance in the world in past few years. The main reason behind increased focus on animal healthcare industry can be attributed to the outbreak of new animal diseases in recent years. In addition to that, changes in factory farming practices for bulk production, which requires good quality animal feed additives, hygiene management products and vaccines etc. have allowed the animal healthcare market to expand.
Geographically, animal healthcare market is segmented into North America, Latin America, Europe, Asia Pacific, Africa and Middle East. In 2014, North America dominates the animal healthcare market with around 35 percent of market share followed by Europe at 28%. Emerging markets like Asia – Pacific is anticipated to have a rapid growth in animal healthcare market by 2020. This burgeoned growth in animal healthcare market in countries like Asia and China can be attributed to the increased trend of adopting pet animals in these countries. The animal healthcare market of India is estimated to have a fastest growth at around 10% CAGR by 2020.
On the whole, the global healthcare market is anticipated to register a CAGR of 7.1% during 2015-2020.
North America Animal Healthcare market overview
North America dominates the animal healthcare market in the world with approximately 35 percent share of market recorded in 2014. It leads in almost every animal healthcare market segment including vaccine, medical feed, anti-infective or diagnostic market. The U.S. and Canada are the two prominent markets of animal healthcare in North America. The market of animal healthcare in North America is mainly boosted by the rising awareness about animal related diseases and food safety. Furthermore, it is expected that North America will continue to maintain its largest share globally for animal healthcare products and services in near future.
By Animal Type
The global market of animal healthcare is divided on the basis of animal species into commercial animals and companion animals. The animals that are kept as pets and are used for guarding offices/houses are classified as companion animals, while animals that are used for commercial production of meat and milk products are termed as commercial animals. In view of increasing consumption of animal products like meat and milk by people, it can be anticipated that the commercial animal segment will dominate the animal healthcare market with a growth rate of around 4.2 percent by 2020.
By Healthcare Products
The global animal healthcare market of can be segmented on the basis of healthcare products into vaccines, anti-infectives, medicinal feed additives, paraciticides and various other pharmaceuticals. The market of animal healthcare products in is dominated by pharmaceuticals, which had the largest market share of around 62.2 percent in 2014. Evolution of new animal diseases, increasing awareness about animal health and food safety are the major factors that can boost the pharmaceuticals market by 2020. Following the same trend, the vaccine market is also expected to grow at a modest CAGR of around 5 percent to reach from USD 3820 million in 2014 to approximately USD 4840 million by 2020.
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and Challenges
The evolution of zoonotic and foodborne diseases in recent years have become a major driving cause for animal healthcare market. People are now more concerned about animal health and demand for safer animal products for their consumption, which has led to innovation of new technologies and pharmaceuticals in animal healthcare market.
Apart from this, increasing trend of pet ownership across the globe is also fuelling the expansion of animal healthcare market. According to a survey, U.S. owns approximately 65.1 percent of households with pets. As number of pets is on a rise, the cases of animal bites is also increasing, which is strengthening the growth of veterinary vaccine market.
However, strict regulatory guidelines and complex procedures for obtaining approval and licensing of animal healthcare products is a major restraint in front of the veterinary healthcare market. Moreover, scarcity of arable land and rise in competition for cultivated land are also creating hurdles for the animal healthcare market.
Market Size and Growth
North America is the leader of animal healthcare market in the world and touched USD 6,800 million in 2014. Further, it is anticipated that the veterinary market in North America will escalate at a CAGR of around 6% during 2015-2020. Increasing awareness about animal related diseases and rising demand for safer animal related products have fuelled the animal healthcare market of North America in recent times.
The U.S. and Canada are the two major animal healthcare markets in North America. It is anticipated that the animal healthcare market in the U.S. will grow at a CAGR of 5.25% in next five years. The future of animal healthcare market in the U.S. will be driven by the requirement to enhance the production of animal related products (milk, egg, meat and other dairy products).
Following the same trend, the animal healthcare market in Canada will also receive a significant boost in near future. The animal vaccine market in Canada is expected to expand from USD 490 million USD in 2014 to approximately USD 630 million by 2019 at around 5.4% CAGR.
The major players in the global animal healthcare market are Zoetis, Merck, Bayer Health Care, Pfizer, Sanofi-Aventis, Ceva, Virbac, Boehringer Ingelheim, Heska Corporation, Bioniche Animal Health Canada Inc., Merial, etc.
Scope and Context
Overview of the Parent Market
Market Size and Growth
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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