The global veterinary healthcare market, estimated at USD 25 billion in 2015, is set to reach USD 39.7 billion by 2021, with a CAGR of 8.06% over the forecast period of 2016 to 2021. The animal health market is a growing industry comprising companion animals and farm animals. Companion animals are those that people tame or adopt for companionship or as house/office guards and farm animals are the ones raised for meat, milk etc. Companion animals include dogs, cats, and horses. Farm animals are cattle, poultry, swine, etc.
Leading companies in the market are actively producing and manufacturing animal healthcare products, pharmaceuticals, and others. This market research report provides in-depth market intelligence on the animal healthcare industry.
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Global Veterinary Healthcare Market- Market Dynamics
The importance of livestock animals is generating growth in the animal healthcare market. The population boom and the stable economy is expected to result in increased demand for protein-rich foods, especially in developing regions. Animal health companies are well positioned to address this growing emerging market demand for higher-protein diets.
The new types of diseases in animals and their subsequent transfer to humans via animal food product consumption and companionship are escalating the veterinary healthcare industry globally. The strategic decisions in research and development of manufacturers are expected to positively impact global veterinary healthcare market.
Some of the key factors driving the market towards growth are:
Increased love for pets leading to increased ownership
Increasing awareness of zoonotic diseases
Fewer requirements for animal health drugs
Government initiatives worldwide on animal healthcare such as compulsory immunization policy for animals in China
Technological advances in development of animal health drugs
However, increased competition for cultivated land and scarcity of arable land are the major restraints of the market growth.
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The market has been segmented based on products, pharmaceuticals, diagnostics, type of animals and geography.
Based on products, the market has been segmented into pharmaceuticals/ biopharmaceuticals and diagnostics.
Based on pharmaceuticals/ biopharmaceuticals, the market has been segmented into vaccines, parasiticides, anti-infectives, medicinal feed additives and other pharmaceuticals.
Based on diagnostics, the market has been segmented into immunodiagnostics, molecular diagnostics, diagnostic imaging, clinical chemistry and others.
Based on animal types, the market has been segmented into companion animals and farm animals. The companion animal includes dogs, cats, and horses. The farm animal market includes cattle, swine, sheep and poultry.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America and ROW (Rest of world). North America has been further segmented into USA, Canada, and Mexico. The European market has been segmented into Germany, UK, France, Spain, Italy, Scandinavia, BENELUX and rest of Europe. The Asia-Pacific market has been segmented into Japan, China, India, South Korea, Australia, New Zealand and rest of Asia-Pacific.
Some of the key players in the market are:
Bayer Animal Health
Ceva Animal Healthcare
Elanco Animal Health
Merial (Animal Health division of Sanofi)
Zoetis Animal Healthcare
Key Deliverables in the Study
Market analysis for the veterinary healthcare market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
Some points from TOC:
1.1 Market Definition
1.2 Study Assumption
1.3 Report Description
- Research Methodology
2.2 Analysis Methodology
2.3 Study timeline
2.4 Study phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering &Econometric Modeling
2.4.4 Expert Validation
- Executive Summary
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