Mexico Veterinary Healthcare Market by Animal types (Farm animals, Companion animals, Poultry), by Diagnostics Technologies -Trends and Forecast, 2015 - 2020
The Mexico veterinary healthcare market, estimated at USD 1789 million in 2015, is set to reach USD 2856 million by 2020, with a CAGR of 9.18% over the forecast period. The market for parasiticides in the region was at USD 1.18 billion in 2014 - a significant increase from 2013. Increasing focus on food safety and animal health will drive the market for medicinal feed additives to grow at a healthy CAGR of 10.01%.
Veterinary healthcare deals with food safety; prevention, diagnosis and treatment of diseases, disorders or any injuries in animals and consistently monitoring the health of animals. Veterinary healthcare market is gaining importance as a result of manufacturers focus on production of products with specialized formulations and specialized manufacturing processes.
The healthcare services are provided to wildlife and farm animals. The end-user market is segmented into veterinary hospitals, clinics and reference laboratories. Veterinary Hospitals and clinics are the major sub segments contributing to the economic growth of this market. Farmers, livestock keepers and pet owners/lovers utilize the animal health services provided by physicians or care providers.
Veterinary healthcare in Mexico has had a significant boost in revenues due to a number of factors. Rising incidence of diseases (food-borne and zoonotic) in animals which consequently transfer to human beings and awareness for animal health, are the major driving factors for the market. Another factor that drives the market is continuous innovations and technological advances in development of animal health drugs. The importance of livestock animals is generating growth in the animal healthcare market because of more people consuming meat and dairy products. Population boom, stable economy is expected to result in increased demand for protein rich foods, especially in developing regions. Animal health companies are well positioned to address this growing emerging market demand for higher-protein diets. However, increased competition for cultivated land, scarcity of arable land, protest of activists against the animal research and increasing cost of animal testing are the major restraints for the market growth.
In this report, Mexico veterinary healthcare market is is segmented based on Animal type, Product type and Animal Diagnostics. By animal type, the veterinary healthcare market is categorized into Farm animals and Companion animals. The Farm Animal segment is further classified into Cattle, Swine, Fish, Sheep and Poultry, while Companion animal segment is classified in to Dogs, Cats and Horses. Animal products segment includes Vaccines, Parasiticides, Anti-infectives, Feed additives and Pharmaceuticals. Feed additives is further segmented into Nutritional Feed Additives and Medicinal Feed Additives. Animal diagnostics segment includes Enzyme Linked Immuno Sorbent Assay (ELISA), Rapid Immuno Migration (RIM) and Agar Gel Immuno Diffusion (AGID).
Many players in this market are trying to expand their product portfolio in order to top the global market. While few companies are entering into the market by acquisitions, top companies are expanding their growth in this market by acquiring other companies. Few companies adopted product innovation and new product launches as its key business strategy to ensure its dominance in this market. Some of the key players in the market are Virbac, Zoetis, Merial Animal Health, Novartis Animal Health, Boehringer Ingelheim, Merck Animal Health and a few others.
Key Deliverables in the Study
1. Market analysis for the Mexico veterinary healthcare market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the Mexico veterinary healthcare market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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