The global veterinary healthcare market, estimated at USD 25 billion in 2015, is set to reach USD 39.7 billion by 2021, with a CAGR of 8.06% over the forecast period of 2016 to 2021. The animal health market is a growing industry comprising companion animals and farm animals. Companion animals are those that people tame or adopt for companionship or as house/office guards and farm animals are the ones raised for meat, milk etc. Companion animals include dogs, cats, and horses. Farm animals are cattle, poultry, swine, etc.
Leading companies in the market are actively producing and manufacturing animal healthcare products, pharmaceuticals, and others. This market research report provides in-depth market intelligence on the animal healthcare industry.
Global Veterinary Healthcare Market- Market Dynamics
The importance of livestock animals is generating growth in the animal healthcare market. The population boom and the stable economy is expected to result in increased demand for protein-rich foods, especially in developing regions. Animal health companies are well positioned to address this growing emerging market demand for higher-protein diets.
The new types of diseases in animals and their subsequent transfer to humans via animal food product consumption and companionship are escalating the veterinary healthcare industry globally. The strategic decisions in research and development of manufacturers are expected to positively impact global veterinary healthcare market.
Some of the key factors driving the market towards growth are:
- Increased love for pets leading to increased ownership
- Increasing awareness of zoonotic diseases
- Fewer requirements for animal health drugs
- Government initiatives worldwide on animal healthcare such as compulsory immunization policy for animals in China
- Technological advances in development of animal health drugs
However, increased competition for cultivated land and scarcity of arable land are the major restraints of the market growth.
The market has been segmented based on products, pharmaceuticals, diagnostics, type of animals and geography.
- Based on products, the market has been segmented into pharmaceuticals/ biopharmaceuticals and diagnostics.
- Based on pharmaceuticals/ biopharmaceuticals, the market has been segmented into vaccines, parasiticides, anti-infectives, medicinal feed additives and other pharmaceuticals.
- Based on diagnostics, the market has been segmented into immunodiagnostics, molecular diagnostics, diagnostic imaging, clinical chemistry and others.
- Based on animal types, the market has been segmented into companion animals and farm animals. The companion animal includes dogs, cats, and horses. The farm animal market includes cattle, swine, sheep and poultry.
- Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America and ROW (Rest of world). North America has been further segmented into USA, Canada, and Mexico. The European market has been segmented into Germany, UK, France, Spain, Italy, Scandinavia, BENELUX and rest of Europe. The Asia-Pacific market has been segmented into Japan, China, India, South Korea, Australia, New Zealand and rest of Asia-Pacific.
Some of the key players in the market are:
- Bayer Animal Health
- Ceva Animal Healthcare
- Elanco Animal Health
- Merck Ltd.
- Merial (Animal Health division of Sanofi)
- Zoetis Animal Healthcare
Key Deliverables in the Study
- Market analysis for the veterinary healthcare market, with region-specific assessments and competition analysis on the global and regional scale.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the market on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
Table of Contents
- 1.1. Market Definition
- 1.2. Study Assumption
- 1.3. Report Description
2. Research Methodology
- 2.1. Introduction
- 2.2. Analysis Methodology
- 2.3. Study timeline
- 2.4. Study phases
- 2.4.1. Secondary Research
- 2.4.2. Discussion Guide
- 2.4.3. Market Engineering &Econometric Modeling
- 2.4.4. Expert Validation
3. Executive Summary
4. Key Inferences
5. Market Dynamics
- 5.1. Market Drivers
- 5.1.1. Increasing Pet ownership
- 5.1.2. Increasing disease prevalence in animals
- 5.1.3. Rising incidence of zoonotic & foodborne diseases
- 5.1.4. Increasing government initiatives and animal welfare association initiatives in different countries
- 5.2. Market Restraint
- 5.2.1. Scarcity of arable land and water
- 5.2.2. Increased competition for cultivated land
- 5.3. Opportunities
- 5.4. Challenges
- 5.5. Porter's Five Force Analysis
- 5.5.1. Threat of New Entrant
- 5.5.2. Bargaining power of Buyer
- 5.5.3. Bargaining power of Supplier
- 5.5.4. Threat of Substitution
- 5.5.5. Competitive rivalry
6. Market Segmentation
- 6.1. By Animal type
- 6.1.1. Farm Animals
- 188.8.131.52. Poultry
- 184.108.40.206. Swine
- 220.127.116.11. Cattle
- 18.104.22.168. Sheep
- 6.1.2. Companion Animal
- 22.214.171.124. Dogs & Cats
- 126.96.36.199. Horse
- 6.2. By type of product
- 6.2.1. Pharmaceuticals & Bio-Pharmaceuticals
- 188.8.131.52. Vaccines
- 184.108.40.206. Parasiticides
- 220.127.116.11. Anti-infective agents
- 18.104.22.168. Medicinal feed additives
- 22.214.171.124. Other Pharmaceuticals
- 6.2.2. Animal Diagnostic tests
- 126.96.36.199. Immunodiagnostic tests
- 188.8.131.52. Molecular diagnostics
- 184.108.40.206. Diagnostic Imaging
- 220.127.116.11. Clinical chemistry & others
7. Global Veterinary healthcare market segmentation by Geography
- 7.1. North America
- 7.1.1. USA
- 7.1.2. Canada
- 7.1.3. Mexico
- 7.2. Europe
- 7.2.1. France
- 7.2.2. Germany
- 7.2.3. UK
- 7.2.4. Italy
- 7.2.5. Spain
- 7.2.6. Scandinavia
- 7.2.7. Benelux
- 7.2.8. Rest of Europe
- 7.3. Asia-Pacific
- 7.3.1. China
- 7.3.2. India
- 7.3.3. Japan
- 7.3.4. Australia & New Zealand
- 7.3.5. Rest of Asia-Pacific
- 7.4. Middle East & Africa
- 7.4.1. GCC
- 7.4.2. South Africa
- 7.4.3. Rest of the Middle East & Africa
- 7.5. South America
- 7.5.1. Brazil
- 7.5.2. Argentina
- 7.5.3. Rest of South America
8. Competitive Landscape
- 8.1. Mergers and acquisitions
- 8.2. Agreement, collaborations, and partnerships
- 8.3. New product launches
9. Key Vendor Analysis
- 9.1. Zoetis Animal Healthcare
- 9.2. Merck Ltd.
- 9.3. Merial (Animal Health division of Sanofi)
- 9.4. Elanco Animal health
- 9.5. Bayer Animal Health
- 9.6. Ceva Animal Healthcare
- 9.7. Virbac Animal Healthcare
- 9.8. Boehringer Ingelheim
- 9.9. Abaxis
- 9.10. IDVet
10. Analyst outlook on investment opportunities
11. Future outlook of the market