Animal healthcare has become a focus area for many pharmaceutical companies in the past decade. The particular market has become even more important because of greater instances of animal disease outbreaks coupled with large-scale factory farming that requires high quality animal feed additives, vaccines as well as hygiene management products. The animal healthcare market is categorised into product type and animal type. Products in animal healthcare market comprises feed additives, pharmaceuticals and vaccines. Feed additives include feed supplements, medicated food and nutritional feed to overcome the protein and vitamin deficiency majorly in farm animals. Pharmaceuticals include antibiotics, antiparasitics, anti-inflammatories, analgesics and fertility drugs. Animal healthcare market depends on the animal type that is production animals and companion animals. Production animal includes poultry, swine, cattle, equine and aquaculture. Companion animals include dogs, cats and other small animals.
Market Value and Forecast
The Global Animal Healthcare market revenues are projected to expand at a CAGR of 4.3% during the forecast period 2017-2027 and a reach value of US$ 54,548.0 Mn by the end of 2027.
The primary factors fuelling demand in the Animal Healthcare market are increasing consumption of meat and milk globally. Beside that increasing foodborne and zoonotic diseases and rising trend of pet adoption are also fuelling the growth of the market. Consumers demand natural products and food processors demand transparent labelling – this is also anticipated to drive the demand in the Animal Healthcare market. Some of the factors hampering the growth of the Animal Healthcare market are increasing regulations and growing costs of animal testing. Restrictions imposed by regulatory authorities over usage of antibiotics has been negatively impacting antibiotic sales in the animal healthcare market.
Market Segmentation by Product Type
Based on product type, the global Animal Healthcare market has been segmented into Feed Additives, Pharmaceuticals and Vaccines. Feed Additive segment is estimated to account for 45% value share of the market by 2017 end. Pharmaceutical segment is expected to reach US$ 20,767.8 Mn by 2027 end and projected to grow at a CAGR of 4.2%. Vaccines segments is expected to be the least attractive segment by product type in the animal healthcare market over the forecast period.
Market Segmentation by Animal Type
Based on animal type, the global Animal Healthcare market has been segmented into Production Animals and Companion Animals. Among the animal types, Production Animals segment is projected to grow at the fastest CAGR over the forecast period to reach a value of US$ 35,041.9 Mn by 2027 end. Companion Animals segment is expected to gain a market value of US$ 13,725.0 Mn in 2017 and is projected to grow at a CAGR of 3.6% over the forecast period.
The global Animal Healthcare market has been segmented into seven major regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). North America dominates the global market for Animal Healthcare and is expected to reach US$ 18,186.4 Mn by 2027 end. The Western Europe market is expected to account for the second largest market value share, followed by APEJ. North America and Europe collectively constitute more than 60% of the market share over the forecast period. Japan is expected to be the least attractive region for animal healthcare due to less pet adoption.
This Future Market Insights (FMI) report examines the global animal healthcare market for the period 2017–2027. The primary objective of the report is to offer updates and information related to market opportunities in the Global Animal Healthcare Market.
The Animal Healthcare Market segmented as follows:
Animal Healthcare Market, by Product Type
Animal Healthcare Market, by Animal Type
Animal Healthcare Market, by Region
This report covers the global animal healthcare market performance in terms of revenue contribution from various segments. The Animal Healthcare market report begins with an overview of the Animal Healthcare market and its definitions. Market viewpoint section underlines the macro-economic factors influencing growth of the Animal Healthcare market along with detailing the opportunity analysis of the market.
The global Animal Healthcare market is segmented based on product type, animal type and region. Based on product type, the global Animal Healthcare market has been segmented into Feed Additives, Pharmaceuticals and Vaccines. Based on animal type, the global Animal Healthcare market has been segmented into Production Animals and Companion Animals. The global Animal Healthcare market has been segmented into seven major regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA).
A detailed analysis has been provided for each region in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and market attractiveness index. Regional market dynamics provides key growth drivers, restraints, and trends pertaining to each region. The forecast of Animal Healthcare by country, component type, imaging technique, application and end user are represented in tabular form for each region. This section will help the client understand the opportunities available in the Animal Healthcare market in major countries by each segment.
In the next section of the report, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and to access the key differentiators among the competitor firms. This section is primarily designed to provide clients with an objective and detailed comparative assessment of product offerings and strategies of key providers specific to a market segment. Detailed profiles of players in Animal Healthcare market are also provided in the report which highlights company description, product/segment overview, SWOT analysis, financial information, key developments related to the market and a strategic overview.
The above sections – by product type and animal type – evaluate the historical market analysis for the period of 2012-2016 and growth prospects of the Animal Healthcare market for the period 2017-2027. We have considered 2016 as the base year and provided data for the forecast period.
The final section of the report presents the global scenario for Animal Healthcare market along with Y-o-Y growth and market forecast till 2027. This section also evaluates the global market opportunity over the forecast period and also the absolute dollar opportunity for each year. This section will help client understand the overall market growth of the Animal Healthcare market and the opportunity analysis for every year over the forecast period.
To arrive at the market size, we have considered parent market statistics in each region and share of Animal Healthcare market. Bottom up approach is used to validate the total market size obtained. The forecast presented in the report provides total revenue of the Animal Healthcare market over 2017–2027. While forecasting the market size we have considered the impact of several factors such as product approvals for Animal Healthcare, R&D investment by major players, product approvals, penetration of products in different distribution channels, generic penetration across all regions etc. However, quantifying the market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed. In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global Animal Healthcare market.