Industry Background:
Animal health has become vital owing to importance of animals in ensuring global food safety. Growing people’s inclination towards animal protein requires animal’s well-being and prevention of diseases outbreaks. Fueled by growing popularity of pet ownership and rising demand for dairy products, the animal health industry continues its strong growth run.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Bayer Animal Health [Germany], Ceva Animal Healthcare [United Kingdom], Elanco Animal Health [United States], Merck Ltd. [ India], Merial (Animal Health division of Sanofi) [France], Zoetis Animal Healthcare [United States], Pfizer [United States], Vétoquinol SA [France], Sanofi-Aventis [France], Bayer HealthCare [Germany], Virbac [France], Novartis [Switzerland], Boehringer Ingelheim [Germany] and Heska Corporation [United States] |
According to AMA, the market for Animal Health is expected to register a CAGR of 4.8% during the forecast period to 2028. This growth is primarily driven by Rising Cases of Zoonotics, Increasing Pet Humanization and Favorable Government Initiatives.
Globally, a noticeable market trend is evident Rising Companion Animal Ownership
The Pharmaceuticals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Bayer Animal Health [Germany], Ceva Animal Healthcare [United Kingdom], Elanco Animal Health [United States], Merck Ltd. [ India], Merial (Animal Health division of Sanofi) [France], Zoetis Animal Healthcare [United States], Pfizer [United States], Vétoquinol SA [France], Sanofi-Aventis [France], Bayer HealthCare [Germany], Virbac [France], Novartis [Switzerland], Boehringer Ingelheim [Germany] and Heska Corporation [United States], etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Animal Health market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
In August 2020, Elanco Animal Health Incorporated acquired Bayer Animal Health for USD at 6.89 billion. This acquisition helped company to expand its presence in animal health market
Animal health and well-being is moving towards digitization. Biosensors, GPS systems and computer vision technologies are being adopted. An Israeli company, Cattle Watch offering a full array of integrated GPS paraphernalia for livestock. The system not only monitors health conditions and predator activity, it can also create invisible fences. Though, this technology is in infancy stage but digital disruption in animal health is on the card.
Regulatory Insights:
FDA regulates the drugs, devices and feed given to or used on over one hundred million companion and food-producing animals in the United States. Several other government and non-government organizations also play a role in animal health. As per FDA, "the drug is safe and effective for a specific use in a specific animal species. If the drug is for use in food-producing animals, the drug company must also prove that food products made from treated animals are safe for people to eat.
Influencing Trend:
Rising Companion Animal Ownership and Growing Awareness About Healthy Food and Animal Protein
Market Growth Drivers:
Rising Cases of Zoonotics, Increasing Pet Humanization and Favorable Government Initiatives
Challenges:
Stringent Regulations on Antibiotics and Lack of Resources in Emerging Nation for New Product Development
Restraints:
Low Expenditure on Animal Health In Emerging Countries and High Cost Involved in New Drug Development
Opportunities:
Technically Advanced Animal Drugs Development and Rising Disposable Income in Emerging Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Animal Health Market
- Analysis about New Entrants in Animal Health Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Animal Health Study Sheds Light on
The Animal Health Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Animal Health industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Animal Health industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.