About animal health
Animal healthcare involves guarding, preserving, and preventing diseases in animals, and providing necessary veterinary services to enhance their quality of life, increase their lifespan, and increase their yield. Animal healthcare includes pharmaceuticals, feed additives, and biologicals. Animal pharmaceuticals include parasiticides, anti-infectives, tablets, and other pharmaceuticals. Animal medicinal feed additives improve the quality of food for the animal, thereby improving the health of the animal. Animal biologicals include vaccines, immunostimulants, allergens, bacterins, antibodies, antitoxins, diagnostics, toxoids, and antigenic and immunizing components of microorganisms. These products can be natural or synthetic in origin.
Technavio's analysts forecast the animal health market in North America to grow at a CAGR of 3.75% over the period 2014-2019.
Covered in this report
The report covers the current scenario and growth prospects of the animal health market in North America for the period of 2015-2019. To calculate the market size, the report considers revenue generated through sales of various veterinary healthcare products, including:
Technavio Announces the Publication of its Research Report – Animal Health Market in North America 2015-2019
Technavio recognizes the following companies as the key players in the Animal Health Market in North America: Bayer, Elanco, Merck, Merial and Zoetis
Other Prominent Vendors in the market are: Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, Lohmann Animal Health, Neogen, Novartis, Thermo Fisher, Vétoquinol, and Virbac.
Commenting on the report, an analyst from Technavio’s team said: “Market leaders are increasing their investments in R&D to develop new animal feed and health products. Zoetis is focusing on R&D to broaden its product and vaccine range for various species worldwide. To reduce the transportation costs and increase their production efficiency, many vendors have kept their R&D facilities close to the manufacturing sites.”
According to the report, the increased consumption of animal products such as meat and milk is boosting market growth because it leads to higher demand for animal health products.
Further, the report states that vendors are facing challenges such as genetic erosion and regulatory pitfalls. While many new breeds have emerged, several have been lost because of the artificial breeding process.
Bayer, Elanco, Merck, Merial, Zoetis, Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, Lohmann Animal Health, Neogen, Novartis, Thermo Fisher, Vétoquinol, Virbac.