$73.6 Billion Animal Health Market Opportunity Assessment, 2027
DUBLIN, March 5, 2020 /PRNewswire/ -- The "Animal Health Market Size, Share & Trends Analysis Report by Animal Type (Production, Companion), by End Use, by Product (Pharmaceuticals, Feed Additives, Vaccines), by Distribution Channel, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
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The global animal health market size is expected to reach USD 73.6 billion by 2027, registering a CAGR of 5.8% over the forecast period.
The market is driven by technological advancements in veterinary care, which are anticipated to offer the market future growth opportunities. For instance, MediLabSecure, a laboratory network project (2014-2021), was initiated with an aim of identifying emerging viruses and pathogens in 19 countries in the Mediterranean regions. In addition, emergence of veterinary health information systems, specifically in developed economies, is expected to provide high growth potential in future.
With the help of these systems, data generated in veterinary clinics can be uploaded on the internet, which can be further shared with other researchers and clinicians. Incorporation of this technology will facilitate real-time analysis for fluctuations in disease prevalence. As a consequence of the aforementioned factors, it is presumed that there will be significant improvement in the overall penetration rate of veterinary health products, which is anticipated to fuel market demand as well as revenue.
North America captured substantial share in the global market in 2019, owing to a wide range of definitive measures adopted by welfare organizations, technological advancements, rising incidence of zoonotic diseases, and increasing number of pet owners. Asia Pacific is expected to exhibit lucrative growth over the coming years as consequence of consistent R&D investments deployed by prominent players and their efforts to commercialize branded and generic therapeutics at a relatively inexpensive price.
Key market participants employ sustainability strategies, such as expanding product portfolio, to gain competitive advantage. For instance, in April 2019, Merck acquired Antelliq Corporation operational in the field of digital animal identification, traceability, and monitoring solutions. This acquisition helped the company improve its veterinary vaccines and pharmaceutical solutions portfolio.
Further key findings from the report suggest:
-- By product, vaccines are expected to exhibit lucrative growth due to
significant increase in the adoption of pets, which demands long-term
health plans
-- Based on animal type, the companion animal segment is anticipated to
grow at an exponential rate owing to associated health benefits for
humans such as lower blood pressure, greater psychological stability,
and reduced anxiety attacks
-- By distribution channel, retail channels and e-commerce platforms
accounted for a notable share owing to factors such as convenience
associated with online pharmacies and increasing number of retail
pharmacies
-- Point-of testing is fastest growing end-use segment due to increase in
demand for highly productive animals and growing investments in R&D for
novel animal products
-- In 2019, North America accounted for the largest share in the global
animal health market owing to local presence of established
pharmaceutical companies, consistently striving for extensive
commercialization of their products
-- Asia Pacific is anticipated to grow at a steady rate as a consequence of
high clinical urgency to curb incidence of zoonotic diseases and
management of disease outbreaks, such as swine influenza and Ebola.
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Summary, 2019
2.1.1 Market Outlook
2.1.2 Segment Outlook
Chapter 3 Animal Health Market Variables, Trends & Scope
3.1 Animal Health Market Dynamics
3.1.1 Market Driver Analysis
3.1.1.1 Increase in Government Initiatives
3.1.1.2 Rapid Technological advancements
3.1.1.3 Growing focus on animal health and safety
3.1.2 Market Restraint Analysis
3.1.2.1 Increasing Influx of Counterfeit Drugs
3.1.2.2 Lack of Standardization
3.2 Business Segment Trends
3.2.1 Animal Health Market, Animal Type Outlook: Key Takeaways
3.2.2 Animal Health Market, Product Outlook: Key Takeaways
3.2.3 Animal Health Market, Distribution Channel Outlook: Key Takeaways
3.2.4 Animal Health Market, End-Use Outlook: Key Takeaways
3.3 Business Environment Analysis Tools
3.3.1 SWOT Analysis, By Factor (Political & Legal, Economic & Technological)
3.3.1.1 Political Landscape
3.3.1.2 Economic Landscape
3.3.1.3 Social Landscape
3.3.1.4 Technology Landscape
3.3.1.5 Legal Landscape
3.3.2 Porter's Five Forces Analysis
3.3.2.1 Supplier Power
3.3.2.2 Buyer Power
3.3.2.3 Threat of Substitutes
3.3.2.4 Threat of New Entrants
3.3.2.5 Competitive Rivalry
3.3.3 Value Chain Analysis
3.3.4 Investments in Animal Health
3.3.5 Pet Animal Owner Profiles
3.3.6 Cost Structure Analysis
Chapter 4 Regulatory & Political Forces
4.1 Regulatory Framework
4.1.1 List of Regulations
4.1.1.1 U.S.
4.1.1.2 Canada
Chapter 5 Competitive & Vendor Landscape
5.1 Participation Categorization
5.2 Strategic Initiatives & Outcome Analysis
5.2.1 List of Key Strategies, By Company
5.3 Major Deals & Acquisitions
5.4 Vendor Landscape
5.4.1 List of Distributors
5.5 List of Animal Health Drugs
5.6 Company Market Share Analysis, 2019
5.7 Public Companies
5.7.1 Company Market Position Analysis
5.8 Market Share Analysis by Country, 2019
5.8.1 North America
5.8.2 Europe
5.8.3 Asia Pacific
5.8.4 Latin America
5.8.5 MEA
Chapter 6 Animal Health Market: Animal Type Estimates and Forecasts to 2027
6.1 Animal Health Market: Animal Type Movement Analysis
6.2 Production Animal
6.3 Companion Animal
Chapter 7 Animal Health Market: Product Estimates & Trend Analysis
7.1 Animal Health Market: Product Movement Analysis
7.2 Vaccines
7.3 Pharmaceuticals
7.4 Feed Additives
7.5 Diagnostics
7.6 Others
Chapter 8 Animal Health Market: Distribution Channel Estimates & Trend Analysis
8.1 Animal Health Market: Distribution Channel Movement Analysis
8.2 E-commerce
8.3 Veterinary Hospitals & Clinics
Chapter 9 Animal Health Market: End-use Estimates & Trend Analysis
9.1 Animal Health Market: End-Use Movement Analysis
9.2 Reference Laboratories
9.3 Point-of-care Testing/In-house Testing
9.4 Veterinary Hospitals & Clinics
9.5 Others
Chapter 10 Animal Health Market: Regional Estimates & Trend Analysis, by Animal Type, Product, Distribution Channel, End Use
10.1 Animal Health Market Shares By Region, 2019 & 2027
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Latin America
10.6 MEA
Chapter 11 Company Profiles
11.1 Merck Animal Health
11.2 Ceva Sant Animale
11.3 Vetiquinol S.A.
11.4 Zoetis
11.5 Boehringer Ingelheim GmbH
11.6 Bayer AG
11.7 Elanco
11.8 Nutreco N.V.
11.9 Virbac
11.10 Heska Corporation
Chapter 12 Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/5kws7v
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