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Animal Therapeutics and Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Global Animal Therapeutics and Diagnostics Market: Overview

The similarity between the human and animal body in terms of structure and function has facilitated the immense need for safe and effective treatments for animals. Many of the problems encountered by humans are similar to those of animals. For instance, over the past few years, there has been a sudden rise in the cases of pet obesity. This is leading to the increasing focus towards animal well-being, which in turn is working in favor of the growth of the global animal therapeutics and diagnostics market. In developing and under-developed countries, a large section of their population still depends on animal husbandry for their income. As a result, the demand for animal therapeutics and diagnostics is estimated to remain high in these countries in the forthcoming years.

This market intelligence report is compiled using various paid and unpaid sources into a reliable business tool that provides a thorough evaluation of the global animal therapeutics and diagnostics market. The report identifies important trends of the market at both global and regional level. It offers qualitative and quantitative insights into the competitive landscape of the market. It also profiles the key players along with their latest development, business strategies, revenue structure, product details, and contact information. It performs a SWOT analysis that calculated the potential trajectory each prominent market player will witness. For a coherent understanding, the market is segmented on the basis of various criteria including product and geography.

Global Animal Therapeutics and Diagnostics Market: Drivers and Restraints

The burgeoning demand for animal-derived food products such as meat is one of the primary factors driving the global animal therapeutics and diagnostics market. For these products to be fit for human consumption, it becomes imperative to ensure high-quality and cost-effective production of animal protein. The growing prevalence of chronic diseases such as bovine spongiform encephalopathy along with the rising awareness regarding other zoonotic diseases is resulting in greater uptake of animal therapeutics and diagnostics by pet and cattle owners. Moreover, the increasing veterinary practitioners in developed regions and the rising expenditure on animal health and pet insurance are augmenting the market. Growing ownership of companion animals is another factor fuelling the global market.

Despite the involvement of a large population in animal husbandry in emerging markets, the lack of awareness regarding animal healthcare in these regions is inhibiting the growth of the overall market. In addition, there is a shortage of veterinarians in these regions, which influences the growth of the market negatively. Furthermore, the high cost of diagnostic imaging instruments is limiting the market from realizing its full potential. Nevertheless, thanks to rising disposable income in countries such as India, China, and Brazil, these developing economies provide tremendous growth opportunities for the global animal therapeutics and diagnostics market.

Global Animal Therapeutics and Diagnostics Market: Segmentation

Based on products, the global animal therapeutics and diagnostics market can be segmented into feed additives, pharmaceuticals, diagnostics, and pharmaceuticals. The pharmaceuticals segment is anticipated to witness significant growth during the forecast period. Due to their convenience, feed additives is also poised to command a large share in the market.

The market can be divided into North America, Europe, Asia Pacific, and Rest of the World on the basis of geography. The North America and Europe regions are expected to be a major revenue contributor. The Asia Pacific market for animal therapeutics and diagnostics is estimated to rise at a noteworthy CAGR during the same period owing to the growing trend of pet adoption, increasing livestock population, and rapid urbanization. The growth of the region can also be attributed to the changing food habits, and rising per capita expenditure on animal health.

Companies Mentioned in the Report:

Some of the notable market players in the global animal therapeutics and diagnostics market are AUV Veterinary Cooperative, Abaxis Inc., Bayer Animal Health, BASF Animal Nutrition, Boehringer Ingelheim Corp., DSM Nutritional Products Ltd., Evonik Industries Ag, Heska Corp., Elanco Animal Health, IDEXX Laboratories Inc., Novartis Animal Health Inc., Merck & Co. Inc., Mosaic Co., Novus International Inc., Pfizer Animal Health, Sanofi, and Virbac SA.

Major regions analyzed under this research report are:

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.

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