Global Animal Healthcare Market Size, Share, Development, Growth and Demand Forecast to 2020

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Apr 19, 2016, 05:38 ET

LONDON, April 19, 2016 /PRNewswire/ -- The increasing global consumption of meat and milk, growing trend of pet adoption, and up surging zoonotic and food borne diseases are the key drivers in the global animal healthcare market. The growing population, increasing per-capita income level, and changing lifestyle of the consumers are some of the factors leading to increased meat consumption globally. Due to the growing health concern of animals and increasing number of animals, the healthcare expenses in farms is increasing globally. The number of animal farms is increasing globally, due to growing demand for protein rich foods such as milk, eggs, and meat.

The adoption of western culture and changing lifestyles in the developing countries, such as India and China, has increased the adoption of pet animals; supporting the growth of the animal healthcare market. Pet ownership is considered as one of the major status symbols in the developing countries. Cats and dogs are adopted by people for psychological and therapeutic benefits. The increasing prevalence of zoonotic and food borne diseases has raised the concern of animal farm owners and pet owners regarding the health of their animals.

The animal healthcare market is categorized on the basis of product as pharmaceuticals, feed additives, and vaccines. Due to the increasing demand for meat and milk, the production animal population is increasing, which in turn increases the demand of feed additives. The pharmaceuticals market segment is also growing at a significant rate, due to increasing occurrences of animal diseases, which has up surged the concerns of pet and animal farm-owners. Animal owners have been encouraged to take appropriate protective measures for healthy well-being of their pets, due to steps taken by government and their own increasing concerns.

The animal healthcare market is also categorized on the basis of animal type, as companion animals and production animals. Due to the increasing consumption of animal protein, the global animal population has increased considerably in the past few years. The increasing per capita income has led to the growth of animal protein consumption globally, which has resulted in the increased demand of animal healthcare products for production animals.

In Asia-Pacific, the introduction of western culture has influenced the domestication of companion animals in the family, which is supporting the growth of pet ownerships in the region. Veterinary service is becoming one of the recognized professions in the U.S. and the number of veterinarians has been increasing in the country. The animal healthcare market in the U.S. is expected to increase during the forecast period 2015 - 2020, due to increase in research activities for certain new diseases.

Antibiotics are used in animals for non-therapeutic and therapeutic purposes, including their growth promotion. However, the health of consumers who are using the products of the animals, on which excessive antibiotics have been used, is being affected. This has led to severe concerns within regulatory authorities, which have started imposing restrictions upon the use of antibiotics in production animals.

The major companies operating in the global animal healthcare market include Zoetis Inc., Merck & Co. Inc., Merial Limited, Bayer AG, Virbac SA, Ceva Sante Animale S.A., Boehringer Ingelheim GmbH, Elanco Animal Health Inc., and Vetoquinol S.A.
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