Persistence Market Research Released New Market Report on “Global
Market Study on Animal Healthcare: Feed Additives to Witness Highest
Growth by 2019,” 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.
Increasing population of companion and production animals is driving
the global animal healthcare market. The animals that serve man by
giving companionship and guarding their houses/offices are termed as
companion animals, while those animals which serve mankind with their
meat and milk and fur are called production animals.
The new types of diseases in animals and their transfer to humans via
their product consumption and companionship are escalating the animal
healthcare market globally. However, some challenges in the form of
regulations have emerged against the excess use of antibiotics in
production animals, and legislations and protest of animal activists
and institutions against animal research.
The animal healthcare market is very competitive with the top ten
players accounting for about three-fourth of the market. The
companies are focusing on their research and development activities
to produce better pharmaceutical and vaccine products for the
existing and newly diagnosed diseases.
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Increasing per-capita income level, changing lifestyle, and growing
population has increased global meat consumption. The number of
animal farms is also increasing globally due to increasing demand for
protein rich food such as meat, eggs and milk. The healthcare
expenditure in such farms has been increasing, due to the growth in
animal numbers in the farms and increasing 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. The consumption of Campylobacteriosis (a
zoonotic disease) induced broiler meat affected 220,209 people in the
European Union (EU) countries in 2012.
However, the excessive use of antibiotics in production animals have
led to challenges for the industry in the form of regulations and
protest of animal activists against research on animals.
The animal healthcare market is segmented as feed additives,
pharmaceuticals and vaccines. Feed additives can be further
categorized as nutritional feed additives and medicinal feed
additives. Nutritional feed additives include amino acids, minerals
and vitamins and are used for production animals for their optimal
growth. Medicinal feed additives on the other hand include hormones,
enzymes, immune-modulators, probiotics and prebiotics and feed
acidifiers which target specific diseases in production and companion
animals. Pharmaceutical products mainly comprise of
endoparasiticides, ectoparasiticides, endectocides, antibiotics,
anti-inflammatories and medicines for reproductive problems. Vaccines
make animals disease-immune for a particular disease.
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 was the global leader in 2013 with
31.7% share, followed by Europe and Asia-Pacific. North America is
expected to retain its leadership by 2019; however a fall in its
market share is expected, due to increasing market share of
Asia-Pacific. The Asia-Pacific animal healthcare market witnessed the
highest growth rate during 2010-2013 due to increase in the
population of both production and companion animals. It is expected
to retain its high growth rate during 2014-2019. Pet adoption is
becoming a trend among the middle- and upper-class population in
China and India due to their increasing population and income levels.
This holds significant opportunity for the animal healthcare market
in the region.
Global animal healthcare market is highly fragmented wherein the
market shares of top ten players sum up to less than 75%. High degree
of mergers, acquisitions and joint ventures taking place in the last
few years has kept the market volatile. However, the competition is
expected to reduce in the long run due to increasing consolidation
activities. The changing regulatory environment in animal healthcare
and emergence of new companies may introduce competition of a
different level in the global market.
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