Animal health refers to veterinary services intended to prevent animal diseases or treat animals to enhance their quality of life or increase the yield of animal food.
The term “animal health care” refers to the veterinary services imparted to animal, cattle and pets to prevent various kinds of diseases and improve their quality of life or to increase the yield of animal food. Globally, the animal health care market can be categorized into the following segments: Food additives, diagnostics, vaccines and pharmaceuticals. While the animal feed additives improve the overall quality of life and yield of the food, the animal pharma and vaccines is used extensively to treat the animals or to prevent any conditions from developing. The animal diagnostics on the other hand helps in identifying the various microorganisms like bacteria, viruses, antibodies and hormones. According to the animal health industry, the market is expected to grow at a CAGR of 5.43% through 2013 to 2018.
This report, Global Animal Health Market 2014-2018 covers the present scenario and the growth prospects of the Global Animal Health market for the period 2014-2018. The report provides details on the expected market size in 2018; including extensive details about key players and regions for growth.
Key regions for growth
The major regions that are set to experience growth in this industry is Europe, Asia-Pacific, North America and includes markets in countries like France, Germany, UK, Italy, China, the US, India and Australia. Brazil is also considered as one of the emerging markets in the animal health industry.
Largest market share
Among all the categories, the feed additives hold the largest market share. Closely following this segment is vaccines and pharmaceuticals. By 2013, the production animals held the largest share, compared to the companion animals. This demand for production animals are expected to increase based on the increasing interest for meat and milk consumption by the consumers.
Key market players
Some of the key companies that are operating in this animal health industry were Merck, Zoetis, Bayer, Novartis and Merial. The market is further fragmented with top ten players that accounts for 75% share. Currently, the market has become highly volatile with a lot of mergers and acquisitions and joint ventures rapidly taking place. However, the competition is expected to reduce in the long run due to the rising number of consolidations that are taking places. Moreover, the changing regulatory reforms in this domain and emergence of local and indigenous companies may introduce a new kind of competition in the market.
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