LONDON, Nov. 1, 2016 /PRNewswire/ -- The APAC animal health market is estimated to grow at a CAGR of 5.7% during the forecast period, to reach USD 20.25 billion by 2021 from USD 15.32 billion in 2016. Growth in this market can primarily be attributed to the rapid rise in livestock population, increasing awareness about animal health, rising demand for animal-derived food products, and rising frequency of animal disease outbreaks. However, restrictions on the use of parasiticides in food-producing animals, the shift towards vegetarian diets, and rising vaccine storage costs are restraining the growth of this market to a certain extent.
In this report, the APAC animal health market is segmented on the basis of product, type of animal, and region. On the basis of product, the market is segmented into growth promoters, feed additives, parasiticides, vaccines, antimicrobials and antibiotics, and other pharmaceuticals. The parasiticides segment is further categorized into ectoparasiticides, endoparasiticides, and endectocides. The ectoparasiticides segment accounted for the largest share of the APAC animal parasiticides market. This product segment is expected to grow at the highest CAGR during the forecast period. Based on the type of animal, the market is segmented into food-producing animals and companion animals.
Geographically, the APAC animal health market segmented into China, Japan, India, and the Rest of APAC. In 2015, China accounted for the largest share of the APAC animal health market. This regional segment is expected to register the highest growth rate followed by India. This growth can be attributed to the large livestock population in these countries, increased frequency of the occurrence of animal diseases, rising demand for animal-derived food products, and growing awareness about animal health and welfare.
Some of the prominent players in the APAC animal health market include Zoetis, Inc. (U.S.), Sanofi (France), Eli Lilly and Company (U.S.), Merck and Co., Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim GmbH (Germany), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), and Cargill, Inc. (U.S.)
In addition to detailed segmentation, this report also provides market dynamics, including drivers, restraints, opportunities, challenges, and market trends. The report also covers the regulatory analysis for the production and marketing of veterinary healthcare products.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product and service development/innovation, market development, market diversification, and competitive assessment) for increasing their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the APAC animal health market. The report analyzes the APAC animal health market by product, type of animal, and region
- Product and Service Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the APAC animal health market
- Market Development: Comprehensive information about lucrative emerging markets by product and region
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the APAC animal health market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products and services, and manufacturing capabilities of leading players in the APAC animal health market
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