KSA Veterinary Therapeutics Market: Snapshot
The veterinary therapeutics market in the Kingdom of Saudi Arabia (KSA) has undergone significant developments in the past few years and the demand for vaccines, veterinary drugs, and nutritional feed additives so as to prevent, treat, and manage various animal diseases has reached an all-time high.
Increased consumption of meat and the rising demand for high-quality proteins are key factors driving the market for veterinary therapeutics. In addition to this, government support for the import of animal feed and easy availability of antibiotics have given the veterinary therapeutics market a major boost. Moreover, the market is slated to be propelled by an increase in the ownership of companion animals and recent livestock disease outbreaks around the world. The value of the KSA veterinary therapeutics market stood at US$384.2 mn in 2016 and is projected to reach US$575.3 mn in 2025 at a CAGR of 4.7% therein.
Viral Vaccines an Ideal Prevention for Several Veterinary Diseases
The veterinary therapeutics market in the Kingdom of Saudi Arabia is segmented on the basis of product type into ectoparasiticides, endoparasiticides, antibiotics, anti-inflammatories, and endectocides. The antibiotics segment is estimated to account for the leading share in the KSA veterinary therapeutics market by 2024 and the expansion of the segment is ascribed to the increase in demand for antibiotics for the prevention and treatment of several infectious diseases.
On the basis of vaccine type, bacterial and viral are the two main segments. The viral vaccines segment is estimated to hold the dominant share in the veterinary therapeutics market in the Kingdom of Saudi Arabia. Viral vaccines are known to be an ideal prevention for several veterinary diseases in the country. Moreover, these vaccines are durable, are easily transportable, can be conveniently administered, aid in infection prevention, and are known to remain stable in tropical climates.
Based on nutritional feed additives, the KSA veterinary therapeutics market is divided into amino acids, vitamins, and minerals. Amino acids form the dominant segment and slated to register healthy growth over the coming years. A significant volume of amino acids is consumed by poultry, pigs, and cattle.
Livestock Animals Enjoy Dominant Share in KSA Veterinary Therapeutics Market
By way of animal type, the veterinary therapeutics market is segmented into livestock animals and companion animals. While companion animals include dogs and cats, livestock animals include cattle, sheep, and poultry. Accounting for the dominant share in the KSA veterinary therapeutics market in 2016, the livestock animals segment is propelled by rising demand for meat within the country. Increasing government support for livestock animal production in the Kingdom of Saudi Arabia, several new projects undertaken to cater to the ever-increasing demand-supply gap in the country, and growing investments in the healthcare sector by the Ministry of Health (MoH) are other key factors ensuring the dominance of the livestock animals segment. Livestock animals are also found to be the most attractive segment in the veterinary therapeutics market, ensuring its steady growth over the course of the forecast period.
The most prominent players operating in the veterinary therapeutics market in the Kingdom of Saudi Arabia include Elanco Animal Health, Ceva Sante Animale, Vetoquinol S.A., Dechra Animal Health, Merial Animal Health, Virbac S.A., Merck Animal Health, Boehringer Ingelheim Vetmedica, Inc., Bayer Animal Health, and Zoetis, Inc. There is a wide range of products available in the KSA veterinary therapeutics market owing to the growing entry of new players. This can be attributed to the fact that there are numerous government initiatives in place to lure multinational suppliers to invest in the country. A growing number of public private partnerships in the whole of the Middle East is also fueling the veterinary therapeutics market in the Kingdom of Saudi Arabia.
Kingdom of Saudi Arabia Veterinary Therapeutics Market: Overview
This report on the KSA veterinary therapeutics market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2015 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the KSA veterinary therapeutics market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
Kingdom of Saudi Arabia Veterinary Therapeutics Market: Drivers and Restraints
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the KSA veterinary therapeutics market.
Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of product features of different types. Additionally, market related factors such as increasing preference for technologically advanced services, product innovation, and growing number of acute and chronic animal and zoonotic diseases in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Kingdom of Saudi Arabia Veterinary Therapeutics Market: Segments
Based on product type, the KSA veterinary therapeutics market has been segmented into pharmaceuticals (ectoparasiticides, endoparasiticides, antibiotics, anti-inflammatories, and endectocides), vaccines (bacterial vaccines, and viral vaccines), nutritional feed additives (amino acids, vitamins, and minerals), and disinfectants (floor disinfectants, and disinfectants used in tissues). The market has been further studied from the point of view of major animal types. Based on animal type, the market has been categorized into companion animals and livestock animals.
This report provides in-depth analysis of the veterinary therapeutics market. The stakeholders for this report include pharmaceutical companies providing veterinary medicines. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition for different product type and animal type. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the KSA veterinary therapeutics market. Furthermore, the report incorporates market attractiveness analysis by product type and animal type that depicts the most attractive and significant segments in the KSA market in 2016.
Key Players Mentioned in this Report are:
The report also comprises list major global players in the market, their SWOT analysis, market share of these players in the veterinary therapeutics market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Bayer Animal Health, Boehringer Ingelheim Vetmedica, Inc., Ceva Sante Animale, Dechra Animal Health, Elanco Animal Health, Merck Animal Health, Vetoquinol S.A., Virbac S.A., and Zoetis, Inc
The KSA veterinary therapeutics market has been segmented as follows:
KSA Veterinary Therapeutics Market, by Product Type
- Nutritional Feed Additives
- Amino Acids
- Floor Disinfectants
- Disinfectants Used in Tissues
KSA Veterinary Therapeutics Market, by Animal Type