Species-specific Demands Trigger New R&D Areas in Animal Healthcare Market, Notices a New FMI Study

Feb 04,2019 | Healthcare

The animal healthcare market valuation is projected for a moderate Y-o-Y growth of 4% in 2019. A new research intelligence by Future Market Insights forecasts steady expansion for the approximately US$ 37 billion global market for animal healthcare, over the course of coming years.

Animal Healthcare Market

The particular market has become even more important because of greater instances of anima...

Animal Healthcare Market

Strongly influenced by the rate of increase in food-borne zoonotic conditions, global demand for high quality animal healthcare is more likely to be driven by exceptionally rising rate of pet adoption.

  • Production animals are more subject to animal healthcare, accounting for over 60% share of the current market value

  • High profitability of animal feed reflect lucrative investment opportunities for animal healthcare market participants

  • R&D of species-specific drugs create attractive avenues for pharma players in animal healthcare market

  • Hospital chains and big-box retailers majorly accounting for OTC veterinary drugs uphold North America’s prime consumer position in animal healthcare market

Animal Feed Additives Bestselling over Vaccines & Pharmaceuticals

Animal feed represents the most profitable product type segment, presenting multiple investment opportunities for animal healthcare market operators. Top selling potential of animal feed additives is attributed to a growing focus on disease outbreak prevention rather than on curing disease afflicted animals.

Animal healthcare market in China and Japan is especially observing robust demand growth in feed additives. This factor is however contributing to an already complex scenario in animal healthcare market, i.e. a disrupted supply chain and the resultant pricing pressure and loss of massive profits.

Animal Healthcare Market Players Prioritizing R&D of Novel Drugs

Although branded generics have been a highly favored choice across animal healthcare providers and consumers, the evolving disease conditions and the subsequent impact on overall performance of animal healthcare market hints at the critical demand for the development of novel pharmaceuticals and vaccines that are species-specific, and thus cater to specific sets of animal healthcare requirements.

Currently, companies based in the US and Western Europe are pioneering the trend of soaring R&D investments in novel drugs development for specific animal healthcare demands. The trend is however likely to gradually migrate to other regional markets for animal healthcare.

Alternatives to Blockbuster Drugs Hinting at Market Profitability

Recent patent expiry of major blockbusters in animal healthcare market points to the criticality of the development of new, efficient alternatives. Leading players in animal healthcare market are thus more inclined toward adhering to drug development processes in close association with regulatory bodies that govern animal healthcare products and practices. This according to study would help companies raise their product sustainability chances.

Although R&D remains an expensive avenue for a majority of smaller players in animal healthcare market, it is projected to emerge as the key to profits in regional landscape. Several players are also entering strategic collaborations with leading biotechnology firms and biologics developers that already have drug development projects in pipeline.

Developing Regions Reflect High Market Attractiveness

While the flourishing humanization trend is favoring animal healthcare market in developed regions such as North America, Western Europe, and Japan, the report foresees attractive potential in emerging regions as well. Major pharma players active in animal healthcare market are strategizing on manufacturing facility expansion across developing economies, as they are less likely to encounter export-import glitches in these regions and thus can expect better product movement in return. Adding to the supply chain harmony, this is likely to slash down the resultant loss due to foreign product bans.

The report tracks animal healthcare market performance over 2017-2027. To gain additional insights on the same, write to the team of analysts at press@futuremarketinsights.com

About the Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.