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Animal Health Market Share

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The global animal health market is poised to witness steady expansion in terms of revenue over the forecast period of 2017 to 2025.
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Animal Health Market Size, Share, Analysis, Growth, Trends,
Competitive Strategies and Forescast to 2025 | Hexa Research
“Global animal health market expected to witness steady expansion
in terms of revenue over the forecast period”
19 February 2019, the global Animal Health Market is poised to witness steady expansion in terms of
revenue over the forecast period of 2017 to 2025. Advancing veterinary care technologies coupled with high
prevalence of zoonotic diseases is expected to drive market growth. Rise in animal food -borne diseases
globally is projected to promote adoption of pharmaceuticals and animal vaccines. This factor is expected to
give a fillip to market expansion. Growing demand for protein rich food has given rise to commercial animal
farming to increase production of meat cattle, milch, and other livestock. Growing trend towards the
adoption of companion animals is also expected to promote veterinary healthcare in the forthcoming years.
There is an explosive rise in the demand for meat and poultry among other animal p roducts. Rise in global
population is also projected to drive the market over the forecast period. As per a report by the UN
Department of Economic and Social Affairs (UN DESA), the global population is projected to reach nearly 9.7
billion by 2050. In the same year, around 795 million people will be malnourished or undernourished,
according to the International Fund for Agricultural Development (IFAD).’
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Rise in food-borne diseases is a major concern for the meat and animal products industry. Hence, companies
focus on research and development for vaccination and pharmaceuticals to prevent and control
contaminations and possible risks of diseases. This is expected to propel the global market in the coming
years. Advancements in pet care technologies, such as vaccine banks, mobile technology, and data
management systems among others could further fuel growth.
Major types of production animals include cattle, poultry, goat, sheep, fish, and swine among other s. Dogs,
cats, and horses are some of the most popular companion animals. Concerns over food safety and increased
efforts to promote veterinary healthcare are expected to propel the production animal sector over the
forecast period. Long term health and sustainability are expected to be key markets trends over the coming
years. According to Food and Agriculture Organization (FAO), one-third of the overall human protein
consumption in emerging economies is based on animal-based food products. This is anticipated to drive the
demand for livestock productivity. This factor is anticipated to impel their market share in the forthcoming
years.
Some of the major animal health products include vaccine, pharmaceuticals, diagnostics, and feed additives
among others. Government organizations have increased focus on improving agriculture and animal care
practices which in turn is expected to drive the demand for both medicinal and nutritional feed additives.
Advancements such as inclusion of probiotics, enzymes, antioxidants, and metabolic modifiers in feed among
others will further impel the demand for these products. Demand for vaccine would also witness significant
rise in the near future. High adoption of pets and awareness regarding short- and long-term health check-ups
may drive market expansion. Technological advancements and rising research and development is expected
to further drive the demand for vaccines in near future.
North America is expected to hold a significant market share in the near future on account of concentration
of top companies, access to advanced technology, and government efforts to promote healthcare
infrastructure and initiatives for vet health. Asia Pacific, on the other hand, is projected to witness significant
rise in market revenue owing to the prevalence of diseases such as Ebola and Swine flu coupled with efforts
from regional governments on management and eradication of these diseases
Major participants operating in the animal health market are Boehringer Ingelheim; Phibro Animal Heal th;
Elanco; Zoetis Inc.; Ceva Sante Animale S.A.; Vetoquinol; and Bayer among others. The market is
characterized by intense competition. Companies engage in mergers and acquisitions, regional expansion,
product launches, and product differentiation among other business strategies. For instance, in 2018 Zoetis
acquired Abaxis, which is one of the leaders in veterinary Point-of-Care (POC) diagnostic instruments. This
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transaction is expected to provide the former a new platform for product sales when it comes to
consumables and diagnostic instruments.
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Hexa Research is a market research and consulting organization, offering industry reports, custom research
and consulting services to a host of key industries across the globe. We offer comprehensive business
intelligence in the form of industry reports which help our clients obtain clarity about their business
environment and enable them to undertake strategic growth initiatives.
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