Preventing animal disease and monitoring a Animal Health Care Market are very crucial to the economy and security of the country’s food supply. To ensure a safe food supply and keep consumer prices stable, the production of healthy livestock is essential.
Animal health care is a big industry. It involves all sorts of people in various ways. In animal health care at various stages, different people are involved- such as from pet owners and farmers to animal welfare officers and veterinary staff.
All these people must be knowledgeable about animal health and the needs of specific animals they care for.
Benefits of the Animal Health Care:
Due to the slaughter of animals, trade halts, and subsequent disease eradication efforts, animal disease outbreaks can lead to huge financial losses for the country. For instance, a virus called PRRSV, which causes stillborn piglets and costs U.S. farmers $600 million annually.
Animal diseases that have a negative effect on human health can impact the stability of the agriculture sector of the economy, as well as global trade and public health.
The Advantages of Healthy Animals Are:
- Safer food supplies
- High farm productivity, which includes an increased number of offspring.
- Minimize environmental impact
- The use of antibiotics is reduced
- Animal well-being improved
The Global Animal Health Care Market Forecast:
The Global Animal Health Care Market Size Was Worth USD 46.8 Billion in 2019 and Is Projected to Grow to USD 72.92 Billion by 2027, at a CAGR of 5.7% over the Forecast Period 2020 to 2027
Animal healthcare is the act of securing & curing animals of various illnesses using vaccinations & other treatments, as well as likewise providing them veterinary solutions for the objective of expanding their lifespan & yield. The number of public and private partnerships between livestock producers and veterinary service providers, veterinarian laboratories, private veterinarians, and other private companies that specialize in animal health care has risen over the past few years.
The global animal healthcare market is growing due to several key factors, including increasing pet ownership worldwide, increasing awareness, growing pet owners’ demands for better care for their pets, expanded government initiatives to promote animal health products, rising protein demand, and an increase in cases of foodborne and zoonotic diseases.
The global Animal health care market has actually been divided by healthcare items into vaccinations, anti-infective, medicinal feed additives, parasiticides, and numerous other pharmaceuticals. With a market share of 62.2 percent, the pharmaceuticals segment was the dominant player in the global animal healthcare market in 2014.
Over the forecast period, factors such as increased awareness of animal health and new diseases and food safety will likely boost the growth in the animal healthcare market.
Due to the recent outbreaks of new diseases, the global market for animal healthcare will experience a substantial compound annual growth rate during the forecast period. Hygiene management products and vaccines combined with changes in factory farming practices for mass production are some of the factors expected to contribute to the growth of the global animal healthcare market. This will result in significant revenue.
North America was the largest market for animal healthcare in the region, with USD 6,800 million in 2014. And Canada and the U.S. are expected to lead the regional animal healthcare market. The U.S. market for animal healthcare is expected to be driven by increasing demand for animal-related products like milk, eggs, and meat.
The Market Trend and Dynamics of the Global Animal Health Care Market
Global animal healthcare is growing due to rising concerns about animal health and increased demand for safer products. The global expansion of the animal healthcare market is expected to be aided by the rising number of pets and the development of foodborne and zoonotic diseases.
A study found that the United States has 65.1 percent of all households with pets. This is expected to lead to an increase in pet ownership and a greater market for animal healthcare.
But, the limitations of arable land, strict regulatory guidelines, and licensing of animal healthcare products are some of those factors that are hindering the growth in the global animal care market.
The Key Market Segmentation of the Global Animal Health Care Market:
Global Animal Health Care Market can be divided into Drug Types, End-User, and Geographical landscapes, etc.
Animal Health Care Market Segmentation By Drug Type:
- Anti-Infective Agents
- Hormones and substitutes
Animal Health Care Market Segmentation By End User:
- Veterinary Hospital and clinics
- Pharmacies and Drug Stories
- Online Pharmacies
Animal Health care Market Segmentation By Geographical Landscape:
- North America
- South America
- Middle East and Africa
Top Key Players in the Global Animal Health Care Market:
- Merck Animal Health
- Zoetis Inc.
- Vetoquinol SA
- Ceva Sante Animale
- Bayer Healthcare AG,
- Virbac S.A.
- Boehringer Ingelheim GmbH
- Nutreco N.V.
- Sanofi S.A. (MERIAL Limited).
- Heska Corporation
- Bioniche Animal Health Canada Inc.
- Merial etc.
The Covid-19 Impact Analysis:
- With the break out of a worldwide pandemic, numerous have faced salary cuts as well as job losses. Covid-19 has come to be a threat to the whole world’s economic situation and has adversely impacted all types of markets, consisting of the pet health care market. With less non-reusable earnings as well as broken supply chains, the market’s development is expected to slow down.
- The industry can be divided into companion animals and livestock animals based on their animal type. By 2025, the market share for companion animals is expected to grow by 60%.
- The market was dominated by the production animal and held the largest market share at 62.8% in 2019.
- The market segment for animal healthcare is divided into three categories: veterinary services and pharmaceuticals, and medical devices. The market for pharmaceuticals was valued at US$29 billion in 2018, and it is expected to grow significantly in the coming years.
- The market for animal healthcare in companion animal segments was USD 86 billion in 2020. It is expected to grow at a rate of more than 4.3% by 2027. This will be driven by a significant increase in adoptions of companion animals due to the fact that humans treat their pets like family members.
- The market was dominated by feed additives and was valued at USD 11.2 billion in 2019.
- The market was dominated by veterinary hospitals & clinics, which held 38.5% of the market share in 2019, and It was valued at USD 13.5 million.
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