Animal Health Care Market
Animal Health Care Market (Zone - North India, East India, West India, South India; Animal Type Livestock (Bovine, Porcine, Ovine, and Poultry) and Companion (Canine and Feline); Distribution Channel - Veterinary Hospitals, Veterinary Clinics, Pharmacies, Drug Stores, Direct Distribution, and Pet Shops) - India Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Animal Health Care Market: Snapshot
Animal healthcare has turned into a key focus area for some pharmaceutical organizations in the previous decade. The specific market has turned out to be considerably more imperative on account of more prominent occasions of animal diseases combined with expansive scale manufacturing plant cultivating that requires top notch animal feed added substances, immunizations and cleanliness products.
As indicated by the American Society for the Prevention of Cruelty to Animals, in U.S., around 3.2 million sanctuary animals received every year, which incorporates 1.6 million mutts and 1.6 million felines. All across the globe, the reception of pets has expanded over some stretch of time and coupled with the growing nuclear family developing populace which is expected to fuel the animal healthcare market soon. Subsidizing and speculations from over the globe have given the worldwide animal healthcare market the genuinely necessary lift. For example, worldwide organizations, for example, the U.K. Science, have made significant commitment towards worldwide destruction of rinderpest sickness and this majorly affects controlling FMD and Peste des Petits in Ruminants.
TMR anticipated that the global animal healthcare market is likely register a revenue of US$41.9 bn by the end of 2019. In terms of product, the market could find feed additives securing a lion’s share by the same year. By region, North America is projected to dominate the market with its larger share.
Feed Additives to Emerge as Key Product Segment
In terms of segment, the market for medicated feed additives is anticipated to contribute heavily to the global animal healthcare market, inferable from its taking off use for ailment free creatures. The interest for medicated feed additives anticipated to observe significant CAGR over the figure years. Some leading countries, for example, UK, France, and Germany have confined the utilization of a few anti-biotic agents in animal feed; subsequently, the anti-microbial feed market segment may keep on declining over the coming years.
Immunization has received critical significance as of late attributable to move of trend towards disease counteractive action coming about into improvement of a few prophylactic immunizations. Trading of animals or their meat for utilization will increment overall vaccination demand. Government immunization projects, for example, plan inoculation program for dogs is expected to fuel the global animal healthcare market. Expanding improvements in pet antibodies is prognosticated to push market growth in the forthcoming years.
Retracting Regulations on Antibiotic Use to Push North America Market to Fore
North America is anticipated to lead the market with its significant share. With retraction of older regulations of banning use of antibiotics in animal healthcare drugs, the market has emerged to new heights. As indicated by the U.S. Department of Labor Statistics, aggregate spending on pet care expanded from US$ 507 of every 2014 to US$ 528 out of 2015. As per the Animal Health Institute, in the U.S., on an average, the world spends around one fortieth add up to human drug as contrasted and animal prescriptions consistently.
Asia-Pacific is expected to emerge as a lucrative market for feed added substances. In Asia Pacific, it is anticipated that pharmaceutical and vaccine segment will emerge at quicker rate because of growing adoption of animals. As per IIPTF, in India 600,000 pets are embraced each year, fostering growth of the market in Asia Pacific.
There are a number of animal healthcare market players across the world. Animal healthcare industry is expected to witness merger and acquisitions to grow new medications. In 2016, Sanofi and Boehringer Ingelheim merger have collaborated to develop sedatives for animal healthcare.
Key vendors in the global animal healthcare market are Bayer AG, Elanco Products Company, Merck & Co. Inc., Ceva Sante Animale, Merial Ltd., Boehringer Ingelheim Gmbh, and Virbac SA.
Immense Compassion for Companion Animals favors Growth in India Animal Healthcare Market
Over the past few decades, animal healthcare has transformed into a key focus area for some pharmaceutical companies. Factors such as high incidence of occurrence of animal diseases coupled with development of expansive scale manufacturing plant for animal feed added substances, hygiene and immunization products.
For example, according to the American Society for the Prevention of Cruelty to Animals, approximately 3.2 million sanctuary animals are received each year in the U.S. In fact, worldwide, compassion for animals has increased, which, with growing nuclear family setups has further increased. Furthermore, subsidies for industries of animal healthcare has attracted substantial commercial interest in the animal healthcare market.
Consequently, the animal healthcare market features intense competition among a handful of large players in the vendor landscape. To stay competitive, keen players are focused on product development such as launch of new drugs and vaccines for animals. However, large capital investments for such initiatives is compelling players to engage in M&As and collaborations to consolidate their position and expand their market share. This indicates consolidation in the India animal healthcare market in the future.
The India animal healthcare market is broadly segmented on the basis of livestock and companion. Of the two, livestock holds for larger share in the animal healthcare market mainly because of growing threat of zoonotic diseases.
Meanwhile, the animal healthcare market in India gains from agriculture being the mainstay of economy until recently. Animal husbandry contributes substantially to the GDP of the country, with a very large population engaged in rearing farm animals for milk and meat. The high consumption of animal-derived products such as milk and meat in the country that requires health if farm animals to be maintained creates ample opportunities in the animal healthcare market. With increasing awareness about the health of farm animals that directly impacts quality of products, the demand for therapies, supplements for animal health continues to rise. This bolsters animal healthcare market in India.
India Animal Health Care Market: Overview
In terms of revenue, the India animal health care market is expected to register a CAGR of 8.0% during the forecast period, 2016–2024. The primary objective of the report is to offer insights on the market dynamics that can influence growth of the India animal health care market over the forecast period. Insights on key trends, drivers, restraints, value forecasts and opportunities for companies operating in the India animal health care market are presented in the report.
The India animal health care market is expected to witness significant growth rate in terms of value owing to Increase in consumption of animal protein among human population, rise in epidemics of animal diseases, significant animal population and better technology and growing awareness about animal health management practices contributes to growth of the animal health care market. Moreover, development of novel drugs and vaccines against various animal diseases is creating high potential growth opportunities for players operating in the India animal health care market.
Revenue from the animal health care market in India is expected to expand at the relatively higher CAGR due to rising awareness for veterinary care and development of strong distribution channel in India. To understand and assess opportunities in this market, the report offers market forecast on the basis of animal type, therapeutic applications and zones. The report provides analysis of the India animal health care market in terms of market value (US$ Mn).
India Animal Health Care Market: Segmentation
The India animal health care market is segmented on the basis of animal type: Livestock and Companion. The report begins with the market definition, followed by definitions of the different animal types and different therapeutic applications. The market dynamics section includes TMR’s analysis on key trends, drivers, restraints, opportunities and macro-economic factors influencing the growth of the India animal health care market. Next, the report analyses the market on the basis of regions and presents forecast in terms of value for the next 10 years. On the basis of zone, the India animal health care market is segmented into North India, East India, West India, and South India.
We have considered Year-on-Year (Y-o-Y) growth to understand the predictability of the market and identify growth opportunities for companies operating in the India animal health care market. Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is usually overlooked, while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective for services offered by animal health care market. To understand key segments in terms of their growth and performance in the India animal health care market, Transparency market research has developed a market attractiveness index. The resulting index would help providers identify existing market opportunities.
India Animal Health Care Market: Competitive Analysis
In the final section of the report, a ‘competitive landscape’ has been included to provide a dashboard view of key companies operating in the India animal health care market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the India animal health care market and the potential players. However, this section also includes market strategies and SWOT analysis of the main players operational in the India animal health care market.
Detailed profiles of players operating in India animal health care market are also included in the scope of the report to evaluate their long- and short-term strategies. Key players included in this report are Merck & Co., Inc. (Intervet India Pvt. Ltd.), Zoetis, Inc., Bayer AG, Elanco, Merial, Boehringer Ingelheim GmbH, Virbac Group, Ceva Santé Animale, Vetoquinol, Intas Pharmaceuticals Ltd., Cipla, Inc. (Cipla Vet), Cargill, Incorporated, Venkys India, Zydus Animal Health, The Himalaya Drug Company, Ayurvet Limited, and Natural Remedies Pvt. Ltd., among others.
The India animal health care market has been segmented as follows:
By Animal Type
By Distribution Channel
By Therapeutic Type