Animal Health Market 2021
The growing pet insurance, rising incidence rate of zoonotic diseases, growing pet population, and spending on animal health are the major factors driving the growth of the global animal health market. Additionally, improvement in productivity, rising focus toward food safety, and increasing pet ownership also fueling the growth of market during forecast periods. For instant, according to the data published in 2016 by the North American Pet Health Insurance Association (NAPHIA), the growth of the pet health insurance in North America was exceeded by 17.2% from 2014 to 2015. Also, In recent years, various government and private associations are working to control zoonotic diseases. For instant, in 2014, six associations, namely, the Biotechnology and Biological Sciences Research Council (BBSRC), the Natural Environment Research Council (NERC), the Department for International Development (DFID), the Economic and Social Sciences Research Council (ESRC), the Defense Science and Technology Laboratory (DSTL), and the Medical Research Council (MRC) joined to introduce a new Zoonoses and Emerging Livestock Systems (ZELS) research program. The program included USD 27.90 million investment from ZELS partners, and 11 projects involving 19 UK institutions and over 30 overseas institutions.
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Major Key Players:
Some of the key players in the global animal health market are Bayer AG, Boehringer Ingelheim GmbH, Ceva Sante Animale, Elanco, Eli Lilly, Merck Animal Health,Nutreco N.V., Vetiquinol SA, Virbac, Zoeti, and others.
Segmentation
On the basis of animal type, the market has been segmented into farm animal and companion animal. The farm animal segment has been further divided into poultry, swine, cattle, sheep & goats, and others. Also, companion animal segment has been further divided into dog, cat, equine, and others. the market, by product, has been classified into pharmaceuticals, vaccines, and feed additives. Pharmaceuticals segment has been further segmented into parasiticides, anti-infectives, anti-inflammatory, analgesics, and others. The vaccines segment has been further segmented into live attenuated vaccines, DNA vaccines, recombinant vaccines, inactivated vaccines, and others. Based on route of administration, the market has been segmented into oral, parenteral, topical, and others. The market, by distribution channel, has been segmented into veterinary hospitals & clinics, retail, e-commerce, and others. On the basis of animal type farm animal segment is expected to hold the largest market share of the animal health market. Also, vaccines segment to register the significant CAGR in the global animal health market during the forecast period.
Regional Analysis:
The market is likely to dominate by Americas during the forecast period owing to the demand for animal protein, improvement in production, and focus on food safety. Moreover, rising pet ownership and increased medicalization for pets also fueling the growth of the market during forecast periods. The European market is expected to be the second-largest due to government support for research & development and increasing pet population. However, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to increased pet adoptions trends, rising population of companion animals, and rise in the number of animal welfare programs. The market in the Middle East & Africa is likely to account for the smallest share of the global animal health market.
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