Monitoring animal health and preventing animal disease outbreaks is vital to the economy and safety of the country’s food supply. Production of healthy livestock helps to ensure a safe food supply and keep consumer prices stable. The diseases that affect animal health directly affect the health of the population. Focus on animal health ensures healthcare researchers and practitioners in both areas work hand-in-hand to prevent disease outbreaks across species and address the root cause of their spread. This has led to the successful management of deadly diseases like avian flu and is being used to eliminate others in the future.

ANIMAL HEALTHCARE MARKET OUTLOOK

Rising prevalence of animal diseases and their spread to human beings and growing demand for protein rich diet has resulted into commercial farming of animals are the major factors propelling the growth of the market. Rising trend of adoption of companion animals in developed regions such as North America and Europe has resulted into the growth and deep market penetration for the animal healthcare market. Rapid technological advancements in veterinary care are likely to boost the market over the forecast period. According to Animal health Institute On average, the world spends only about one-fortieth of the amount it devotes to human medicines on animal medicines. But that investment is used to cover animal health innovations for the world’s 24 billion chickens, more than 1 billion cattle and sheep, 750 million pigs and goats, 500 million dogs and 400 million cats. However, high cost of products and less awareness about the animal health in under developed and developing economies is anticipated to hamper the growth of the market.

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ANIMAL HEALTHCARE MARKET SEGMENTAL OVERVIEW

The report analyses the animal healthcare market on the basis of animal type, product, distribution channel and geography.

ANIMAL HEALTHCARE MARKET BY ANIMAL TYPE

Based on product type, the market is segmented into farm animals and companion animals. The farm animals into poultry, swine, cattle, sheep goats and fish. Likewise, the companion animals include dogs, cats, horses and other animals such as birds, rabbit, etc.

ANIMAL HEALTHCARE MARKET BY PRODUCT

Furthermore, on the basis of form the global animal healthcare market is categorised into feed additives, pharmaceuticals, vaccines and diagnostics. Feed additives are divided into nutritional and medicinal. Pharmaceuticals are further bifurcated into anti-parasitic drugs, anti-inflammatory medications, antibiotics and others are anaesthetics, pain medications, analgesics. Various types of vaccines are live attenuated vaccines, DNA vaccines, recombinant vaccines and inactivated vaccines. Diagnostic segments include instruments and consumables. The feed additives segment was the largest revenue generating segment in 2018. The dominant share captured by the segment is anticipated to be a consequence of consistent advancements and new product development. These advancements include use of metabolic modifiers, enzymes, minerals, and probiotics in the animal feed. In addition, high inclination of government healthcare organizations towards enhancement of agricultural practices and veterinary health is estimated to bolster the growth of the segment. For instance, certain additives are permitted and recommended by the European Union to use in feed, which includes vitamins, antioxidants, and performance promoters

ANIMAL HEALTHCARE MARKET BY DISTRIBUTION CHANNEL

Based on application, this animal healthcare market is classified into veterinary hospitals, veterinary clinics, pharmacies drug stores, point-of-care/in-house testing and online pharmacies. the veterinary hospitals and clinics segment accounted for the largest share in the global healthcare market. Increasing number of hospital pharmacies coupled with high procedural volume because of frequent readmission of pets for treatment are the major factors leading to the growth of the segment. Retail channels and E-commerce, owing to its characteristics such as high convenience offered and increasing number of retail pharmacies are gaining popularity over recent years globally.

ANIMAL HEALTHCARE MARKET BY GEOGRAPHY

Geographically, the global animal healthcare market is categorized into North America, Europe, Asia Pacific and Rest of the World. Rest of the world comprises of Latin America and Middle East Africa. North America is anticipated to be the leading region for the animal healthcare market. As the pet humanization is increasing, the key market players are focusing on new and innovative product launches for providing better services to the consumers. The Asia Pacific region is anticipated to grow at highest CAGR owing to extensive animal husbandry practices in the developing countries like China and India. Increasing knowledge among pet owners about pet disease, favourable government initiatives for pet keeping, and advancement in new product development is raising the industry growth in this region.

ANIMAL HEALTHCARE MARKET KEY PLAYERS

Key players of the global animal healthcare market are Bayer AG, Boehringer Ingelheim International GmbH, Cargill, Incorporated, Ceva, Elanco, Evonik Industries, Merck Co. Inc. (Intervet), Nutreco N.V, Sanofi, Vetoquinol S and Pharmaceutical Product Development, LLC among others. Mergers, acquisitions and new product launches are the major strategies adopted by the key players to reinforce their position in the global market.

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