The global animal healthcare market is expected to grow from $29,537.4 million, at a CAGR of 7.0% during 2016-2022. Among the various products, the pharmaceuticals segment including, ectoparasiticides, endoparasiticides, anti-inflammatories and others accounted for largest share in the global animal healthcare market in 2015.
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The increasing population of production animals and companion animals is supporting the growth of the global animal healthcare market. The production animals are nurtured by the consumers for milk and meat related products; whereas, companion animals are adopted for office or house guards and companionship.
The increasing transfer of diseases from animals to humans, through companionship and consumption of products sourced from them, are driving the demand of the global animal healthcare market. Legislations and protest of animal institutions and activists, and excess use of antibiotics in production animals are some of the factors restraining the growth of the animal healthcare market. Most of the animal healthcare companies are concentrating on research and development activities to offer better vaccine and pharmaceutical products for the prevailing diseases. The top ten competitors in the global animal healthcare market accounts for 75% of the total market share, which creates more competition in the market.
The information and data in the publication “Global Animal healthcare Market Size, Share, Development, Growth and Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the global animal healthcare market by product and animal type. The market numbers for countries are obtained through top down approach. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
The growing population, increasing per-capita income level, and changing lifestyle of the consumers are some of the factors leading to increased meat consumption globally. Due to the growing health concern of animals and their increasing number, the healthcare expenses in farms are surging globally. Animal farms are increasing globally, due to growing demand for protein rich foods, such as milk, eggs, and meat.
According to the Food and Agriculture Organization (FAO) of the United Nations, the global meat production is expected to grow from 272.2 million tons in 2015, to 341.1 million tons by 2030. Meat production is expected to reach 224.1 million tons by 2030 in the developing countries, such as Brazil, India, and China.
To find enhanced solutions for the prevailing and new diseases, the companies in the animal healthcare market are active in research and development activities. Porcine epidemic diarrhea virus (PEDV), which is caused by corona virus, leads to infection in the cell lining within the small intestine of pigs.
PEDV resulted in about 3 million pig deaths in the U.S. from May 2013, to January 2014. Canada also witnessed the same disease in pigs, during the last quarter of 2013. State animal health officials, the United States Department of Agriculture (USDA), the National Pork Board and the American Association of Swine Veterinarians are actively involved in introducing preventive measures to stop percolation of this disease, which is expected to drive the animal healthcare market in the country. With the growing demand for pork, the demand for vaccines and therapies to deal with porcine epidemic diarrhea virus is expected to be high, thus providing growth opportunities for the animal healthcare market.
Some of the major companies operating in the global animal healthcare market include Zoetis, Merck, Merial, Bayer, Virbac, Ceva Sante Animal S.A., Boehringer Ingelheim GmbH, Elanco, and Vetoquinol.
GLOBAL ANIMAL HEALTHCARE MARKET SEGMENTATION
By Animal Type
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