The animal healthcare market, by pharmaceuticals, spans drugs (antiparasitic, anti-inflammatory, anti-infectives, and others), vaccines (MLV (Modified Live Vaccines), killed inactivated vaccines, and others), medicated feed additives (antibiotics, vitamins, amino acids, enzymes, antioxidants, probiotics and prebiotics, minerals, and others), medical devices (veterinary diagnostic equipment, veterinary anesthesia equipment, veterinary patient monitoring equipment, veterinary surgical equipment, veterinary consumables, and others), and veterinary services.
By animal type, the animal healthcare market includes livestock animals (poultry, swine, cattle, fish, and others) and companion animals (dogs, cats, horses, and others). As far as distribution channel is concerned, it’s online, pharmacies, and distributors.
Coming to veterinary healthcare, herbal course of treatment is doing the rounds since the last few years. The ailments catered to include arthritis, allergies, gastrointestinal diseases, difficult dermatology cases, and others. Plus, there are herbal products meant to help the milk animals give more milk, and also those reared for meat give a better quality of meat overall. Therefore, looking at zero side-effects of herbal veterinary solutions, the herbal veterinary market is there to take a huge leap with respect to growth in the years to come.
Additionally, there are animal parasiticides, which, by type, comprise ectoparasiticides (pour-ons & spot-ons, oral tablets, sprays, dips, ear tags, collars, and others), endoparasiticides (oral solids, oral liquids, injectables, feed additives, and others), and endectocides. As such, animal parasiticides market is meant to flourish on the growing incidences of zoonotic diseases.
Combining with Technical Know-How
Cloud Computing hasn’t left any of the industry verticals untouched. Coming to healthcare computing market, there are clinical information systems (health information system, telehealth, PACS (Picture Archiving & Communication System), pharmacy information systems, laboratory information management system, radiology information system, CPOE (Computerized Physician Order Entry), Outpatient or ambulatory CIS, and others) and nonclinical information systems (revenue cycle management, supply chain management solutions, and others).
North America holds the largest market share with technological advancements in the specialty services. Moreover, this region is known to have the highest rates of adoption. This is evident from the fact that as per the APPA (American Pet Products Association), the Americans own close to 78 Mn dogs. Also, 44% of the households in the North American continent do have a dog. Europe comes in second. The Asia-Pacific is yet to pick up pace.
The key market participants include IDEXX Laboratories, Dechra Pharmaceuticals, B. Braun Vet Care, Neogen, Bayer, Medtronic, Elanco, Zoetis, and Merck. Coming to developments, FUJIFILM Corporation, in July 2019, did come up with FUJIFILM VET Systems Co., Ltd. (better known as FFVS) for providing several medical services and devices to cater to the veterinary clinical practice all across Japan. Around the same time, Aratana Therapeutics was acquired by Elanco Animal Health. As such, Elanco could lay hands on “Galliprant”.
What to Infer?
With extensive research being carried out regarding animal healthcare, the market is all set to witness an upswing going forward. Plus, people are turning out to be more protective regarding their pets and the animals overall. This factor is bound to help the animal healthcare market grow by leaps and bounds between 2020 and 2030.