According to Coherent Market Insights, the Middle East and Africa animal healthcare market was valued at US$ 3,332,0 million in 2017 and is projected to exhibit a CAGR of 5.5% over the forecast period (2018–2026).
Key Trends and Analysis of the Middle East and Africa Animal Healthcare Market:
Key trends in the market are increasing demand for protein source from animals, and increasing government initiatives to provide improved animal healthcare.
The Middle East & Africa animal healthcare market is expected to grow at a steady rate over the forecast period. This is due to increasing incidence and prevalence of zoonotic viral diseases in the region, as zoonotic diseases can easily be transmitted to humans working in close proximity with animals. According to the World Health Organization (WHO) statistics published in 2018, over ten thousand deaths are caused annually by rabies virus in parts of Africa and Asia Pacific region.
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Increasing demand for animal-based products for dietary use in the Middle East and Africa is expected to propel growth of the market over the forecast period. The significant increase in animal farming in the region resulted in rising demand for efficient animal health services to improve food safety. According to the Food and Agriculture Organization of the United Nations report published in 2013, by 2050, consumption of meat is estimated to increase by an additional 8.9 MT, the consumption of beef will reach 13.5 MT, and that of poultry will reach 11.8 MT. The report also suggests that milk consumption will increase by 2.2% annually and poultry and pork will increase by 3.3% by 2050.
Furthermore, increasing implementation of regulatory guidelines by regional and local authorities in the Middle East & Africa for overall improvement of animal healthcare is expected to drive the market growth over the forecast period. The implementation of regulatory guidelines is expected to increase awareness among livestock and companion animal owners to provide better facility and care to animals. In February 2019, the Ministry of Environment & Agriculture launched vaccination drive against foot and mouth disease (FMD) for cows and sheep in Saudi Arabia to prevent and control epidemic zoonotic diseases in the country.
However, high cost of animal healthcare services and lack of pet insurance in the region are expected to restrain growth of the market over the forecast period. For instance, veterinary care for domestic pets in Saudi Arabia is too expensive. The average cost of vaccinations, vet visits, medications, and supplies for a dog in UAE is approximately US$ 1000, annually. If the animal is diagnosed with diseases, the overall expenses is expected to increase. Moreover, pet owners disown their pets that lack favorable pet insurance.
Key Market Takeaways:
- The Middle East and Africa animal healthcare market is expected to exhibit a CAGR of 5.5% over the forecast period (2018–2026) due to increasing incidence of zoonotic viral pathogens, increasing demand for protein sources from animals, and increasing government initiatives to provide improved animal healthcare. According to the Food and Agriculture Organization of the United Nations, Middle East respiratory syndrome is considered to have a pandemic potential.
- Key players in the market are focusing on product launch to enhance their market position in the Middle East, which is expected to propel the market growth over the forecast period. For instance, in May 2017, Ceva Sante Animale launched Cevac Ibird vaccine in Egypt for active immunization of chickens from infectious bronchitis.
- Key players operating in the Middle East and Africa animal healthcare market include Merck & Co., Inc., Zoetis, Boehringer Ingelheim International GmbH, Ceva, Bayer AG, Elanco, Evonik Industries AG, and Archer Daniels Midland Company
To know the latest trends and insights prevalent in this market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/middle-east-and-africa-animal-healthcare-market-to-surpass-us-53815-million-by-2026-2474
Detailed Segmentation:
- Middle East and Africa Animal Healthcare Market, By Product Type:
- Vaccines
- Pharmaceuticals
- Feed Additives
- Middle East and Africa Animal Healthcare Market, By Animal Type:
- Livestock Animal
- Bovine
- Porcine
- Ovine
- Poultry
- Companion Animal
- Canine
- Feline
- Livestock Animal
- Middle East and Africa Animal Healthcare Market, By Route of Administration:
- Oral
- Topical
- Parenteral
- Middle East and Africa Animal Healthcare Market, By Distribution Channel:
- Veterinary Hospitals & Clinics
- Retail Pharmacies
- Online Pharmacies
- Middle East and Africa Animal Healthcare Market, By Region:
- Middle East
- By Product Type:
- Vaccines
- Pharmaceuticals
- Feed Additives
- By Animal Type:
- Livestock Animal
- Bovine
- Porcine
- Ovine
- Poultry
- Companion Animal
- Canine
- Feline
- Livestock Animal
- By Route of Administration:
- Oral
- Topical
- Parenteral
- By Distribution Channel
- Veterinary Hospitals & Clinics
- Retail Pharmacies
- Online Pharmacies
- By Country:
- Saudi Arabia
- Egypt
- Israel
- UAE
- Rest of Middle East
- By Product Type:
- Africa
- By Product Type:
- Vaccines
- Pharmaceuticals
- Feed Additives
- By Animal Type:
- Livestock Animal
- Bovine
- Porcine
- Ovine
- Poultry
- Companion Animal
- Canine
- Feline
- Livestock Animal
- By Route of Administration:
- Oral
- Topical
- Parenteral
- By Distribution Channel
- Veterinary Hospitals & Clinics
- Retail Pharmacies
- Online Pharmacies
- By Country/Region:
- North Africa
- Central Africa
- South Africa
- By Product Type:
- Middle East
- Company Profiles
- Merck & Co., Inc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
- Zoetis
- Boehringer Ingelheim International GmbH
- Ceva
- Bayer AG
- Elanco
- Evonik Industries AG
- Archer Daniels Midland Company.
- Merck & Co., Inc.*
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