The
global animal healthcare market was valued at USD 27,861.2 million in
2013 and is expected to grow at a CAGR of 7.1% from 2014 to 2019, to
reach an estimated value of USD 41,929.1 million in 2019.
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The
global animal healthcare market is growing due to the increasing
animal population of both types: companion and production. Companion
animals are those which people tame or adopt for companionship,
house/office guards and production animals are raised for meat and
milk-related products.
Increasing
global consumption of meat and milk, new diseases in animals and
their transfer to humans via their product consumption and
companionship are propelling the animal healthcare market globally.
The changing lifestyle, increasing per-capita income level and
growing population have led to an increase in meat consumption
globally. Demand for protein rich food such as meat, eggs and milk,
is rising and it is increasing the number of animal farms globally.
The healthcare expenditure in farms is increasing, due to the
increasing number of animals and the growing concern for their
health.
According
to the European Food Safety Authority (EFSA), around 3,20,000 cases
of food-borne and zoonotic diseases are reported each year in the
European Union. Campylobacteriosis was the most-commonly observed
zoonoses in animals which affected 220,209 people in 2012 in the
European Union (EU) countries, due to the consumption of infected
broiler meat.
Some
challenges have emerged in the form of regulations against the excess
use of antibiotics in production animals, and legislations and
protest of animal activists and institutions against animal research.
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Feed
additives had the largest share among the product segments in the
animal healthcare market. The other two segments included
pharmaceuticals and vaccines. While the feed additives market is
growing mainly due to the increasing production of animal population,
the pharmaceuticals and vaccines segments are being driven by the
increasing incidence of animal diseases and increasing concern for
animal immunization against diseases.
Among
the regions, North America dominated global sales with 31.7% share in
2013, followed by Europe and Asia-Pacific. North America is expected
to continue with its leadership position by 2019, but it is expected
to witness a fall in market share, due to increase in the market
share of Asia-Pacific. The animal healthcare market in Asia-Pacific
had the highest growth rate during 2010-2013 due to the increase in
the population of both production and companion animals. The region
is also estimated to continue with the highest growth rate during
2014-2019. The increasing population and income levels in China and
India are encouraging pet adoption as part of the western culture
among the middle- and upper-class population in these countries. This
offers opportunities for the animal healthcare market in the region.
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Global
animal healthcare market is fragmented with the top 10 players
accounting for less than 75% share. The market is highly volatile
with a lot of mergers, acquisitions and joint ventures taking place
in the last few years. The competition is expected to reduce in the
long run in the animal healthcare market due to increasing
consolidation activities taking place. However, the changing
regulatory environment in this domain and emergence of regional and
country-specific companies, may introduce competition of a new
dimension in the global market.
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The
animal healthcare market is segmented as follows:
Animal
Healthcare Market, By Product
Feed
additives
Pharmaceuticals
Vaccines
Animal
Healthcare Market, By Product
Companion
animals
Production
animals
Animal
Healthcare Market, By Region
North
America
The
U.S.
Europe
France
Germany
Italy
The
U.K.
Asia
Pacific
Australia
China
India
Rest
of the World (RoW)
Brazil
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