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Abstract, Snapshot, Market Analysis & Market Definition: Global Animal Health Market The global animal health market size was valued at USD 44.74 billion in 2018 and is expected to witness a CAGR of 5.7% during the forecast period. The market is largely driven by a significant rise in the zoonotic and food-borne diseases globally. This unprecedented disease prevalence has encouraged companies to produce advanced vaccines and pharmaceuticals. The high demand has also resulted in subsequent rise in the number of companies making consistent efforts to control risks of pathogen contamination and food-borne diseases, which is contributing to market growth. In addition, rising government initiatives to promote veterinary products is presumed to drive the overall market for animal health. According to the UN Department of Economic and Social Affairs (DESA), the global population is approximately 7.3 billion and is anticipated to reach around 9.7 billion by 2050. Out of this 795 million people are undernourished, as per the estimations of the International Fund for Agricultural Development (IFAD). The aforementioned statistics exemplify the urgent requirement to expand food supply through large-scale adoption of livestock. The heightened production of animal-based food products will lead to significant price reduction, facilitating easy access to food at affordable prices. The market is driven by technological advancements in veterinary healthcare, which is anticipated to serve future growth opportunities. These advancements include advent of efficient information management systems, animal owner mobile technology, and vaccine banks. High focus on innovation in veterinary health has given rise to certain measures that are fueling the market growth prospects. For instance, the Innovative Medicines Initiative (IMI), which is a public-private partnership to support collaborative research to boost innovation in veterinary pharmaceuticals in Europe. Market Segmentation, Outlook & Viewpoint: Global Animal Health Market Animal Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026) Production Animal By Type Poultry Swine Cattle Sheep & Goats Fish By Product Vaccines Pharmaceuticals Feed Additives Diagnostics Others Companion Animal By Type Dogs Cats Horses Others By Product Vaccines Pharmaceuticals Feed Additives Diagnostics Others Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026) 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 Distribution Channel Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026) Retail E-commerce Veterinary Hospitals & Clinics End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026) Reference Laboratories Point-of-care Testing/In-house Testing Veterinary Hospitals & Clinics Others Key Players, Recent Developments & Regional Insights: Global Animal Health Market Feed additive segment held a dominant market share of 39.05% in 2018, owing to consistent advancements in the products. Feed additive are bifurcated into nutritional and medicinal. Product advancements in the segment predominantly include the use of metabolic modifiers, enzymes, minerals, and probiotics. These additives facilitate significant increase in muscle growth, thereby optimizing feed utilization. In addition, high inclination of government healthcare organizations toward enhancement of agricultural practices and veterinary health is presumed to be responsible for the segment growth. For instance, certain additives are permitted and recommended by the European Union to use in feed. These additives include vitamins, antioxidants, and performance promoters. Distribution Channel Insights Veterinary hospitals and clinics segment accounted for the dominant market share in 2018. Increasing number of hospital pharmacies coupled with high procedural volume as a consequence of frequent readmission of pets for treatment have supported the segment growth. Retail channels and E-commerce platform held a significant market share during the same year. The growth can be attributed to the factors, such as high convenience and increasing number of retail pharmacies among others. Retail pharmacies segment is expected to expand at a moderate CAGR throughout the forecast period. Major manufacturers rely on only licensed veterinarians and authorized distributors for the distribution of medications and vaccines. This factor is projected to positively influence the segment growth in the forthcoming years. E-commerce/online pharmacies is anticipated to witness exponential growth throughout the forecast period. This growth is believed to be a result of various advantages, such as increased convenience for patients unwilling to purchase medicines from retail or hospital pharmacies. These benefits are anticipated to accentuate the demand for e-commerce throughout the forecast period. End Use Insights Increase in incidence of zoonotic diseases caused by globalization and climate changes are expected to drive the demand for diagnostic procedures, which is expected to drive growth of the point-of-care testing/in-house testing in the forthcoming years. Increase in initiatives to create awareness among pet owners about the benefits of preventive care for pets is one of the key contributing factors for the growth of the segment. Tests such as ELISA have been proven effective for heartworm diagnosis. Availability of a wide range of treatment as well as diagnostic options in veterinary hospitals and clinics is a high impact rendering factor for this segment. Veterinary hospitals and clinics accounted for the largest share of the end use segment in 2018. The dominant share captured by this segment is also a consequence of various applications, such as clinical pathology, toxicology tests, and therapy. Certain vaccines are only available in accredited veterinary hospitals and clinics responsible for boosting the share of veterinary hospitals and clinics in the end use segment. Various government animal welfare organizations have issued guidelines for safety practices and standards to be implemented in veterinary hospitals and clinics, which has broadened the scope for segment growth over the past few years. Animal Type Insights Production animal segment held the leading market share in 2018. The substantial share captured by the segment can be presumed as a consequence of high concern for food safety and sustainability by government healthcare organizations globally. Policymakers in various countries are striving to achieve total food security, which propels large-scale food production and results in greater rearing of livestock. The policies focus on long-term sustainability, which can be achieved through a combination of improving productivity and greater attention to livestock veterinary healthcare. According to the Food and Agriculture Organization (FAO), in the emerging economies, animal-based food products account for one-third of human protein consumption, leading to an increase in livestock productivity, which is critical to meet dietary needs of the growing human population. These factors cumulatively are responsible for the significant share captured by production animals in this segment. Regional Insights North America captured substantial share of the global companion animal health market in 2018, owing to the wide range of definitive measures adopted by government animal welfare organizations that are consistently working for overall improvement in animal health. Furthermore, technological advancements, prevalence of zoonotic diseases, and increasing number of pet owners is expected to boost the regional growth. Several collaborative efforts undertaken by major companies to enhance their R&D capabilities and to ensure high quality standards are anticipated to impel the demand further across this region. Moreover, the high disease burden can also be attributed to the regional growth. On the other hand, Asia Pacific market is expected to expand at a lucrative CAGR over the forthcoming years. The high growth is believed to be a consequence of consistent R&D investments deployed by the prominent players and their efforts to commercialize branded and generic therapeutics at a relatively inexpensive price. The exponential growth can also be accredited to high awareness pertaining to pet nutrition and supplies and rising disposable income. Animal Health Market Share Insights The market is marked by extensive regional expansion strategies, mergers and acquisitions, and collaborative research initiatives undertaken by the major market players. For instance, In January 2018, Zoetis aquaculture division, PHARMAQ acquired Norland Sett Vaks to increase its product portfolio for vaccines. In March 2018, Merck completed the acquisition of Vallee S.A. This acquisition was carried out to expand the company’s animal health product portfolio and enhance its presence in Brazil. In another instance, in December 2016, Bayer AG entered into an agreement with Boehringer Ingelheim Vetmedica, Inc. (BIVI) to acquire BIVI’s Cydectin ovine and bovine endectocide products. This acquisition was carried out to widen the former’s product portfolio. Key Insights Covered: Global Animal Health Market 1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Animal Health industry. 2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Animal Health industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Animal Health industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Animal Health industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Animal Health industry. Research Methodology: Global Animal Health Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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Table of Contents Chapter 1 Research Methodology & Scope 1.1 Market Segmentation & Scope 1.1.1 Regional Scope 1.1.2 Estimates & Forecast Timeline 1.1.3 Research Scope and Assumptions 1.2 Market Definitions 1.3 Model Details 1.4 Information Procurement 1.4.1. Purchased database 1.4.2. HCC's internal database 1.4.3. Secondary sources & third party perspectives 1.4.4. Primary research 1.5 Information or Data Analysis 1.6 Market Formulation & Validation 1.6.1 Report ObjectivesChapter 2 Executive Summary 2.1 Market Outlook 2.1.1 Animal Health Market Outlook, 2014 | read more...