About animal health
Animal healthcare refers to guarding, preserving, and providing veterinary services to animals to enhance their quality of life, increase their lifespan, and increase yield. Animal healthcare is provided using pharmaceuticals, feed additives, and biologicals. Animal pharmaceuticals consist of parasiticides, anti-infective products, tablets, and other pharmaceuticals used to treat or prevent diseases in animals. Animal feed additives improve the quality of animal food, thereby improving the health of animals. Animal biologicals are vaccines, immunostimulants, allergens, bacterins, antibodies, antitoxins, toxoids, and antigenic or immunizing components of microorganisms, used in the prevention, diagnosis, and treatment of diseases in animals. These products can be natural or synthetic in origin.
Technavio's analysts forecast the global animal health market to grow at a CAGR of 3.96% over the period 2014-2019.
Covered in this report
The report covers the current scenario and the growth prospects of the global animal health market for the period of 2015-2019. To calculate the market size, the report considers revenue generated through sales of various healthcare products for animals, including:
Technavio Announces the Publication of its Research Report – Global Animal Health Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Animal Health Market: Bayer, Elanco, Merck, Merial and Zoetis
Other Prominent Vendors in the market are: Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, LogiXML, Lohmann Animal Health International, Neogen, Novartis, Thermo Fisher Scientific, Vetoquinol and Virbac
Commenting on the report, an analyst from Technavio’s team said: “Market leaders are increasing their investments in R&D for the development of new animal food and health products. Zoetis is focusing on R&D to broaden its product and vaccine ranges for other new species of animals worldwide. Their current R&D facilities are close to manufacturing sites so as to reduce transportation costs and increase production efficiency. Iowa State University and Zoetis signed a collaborative agreement to develop a vaccine for the porcine epidemic diarrhea virus in the US. These R&D activities help in increasing the products and services in the market, thereby increasing the market size. For instance, Zoetis had about 180 product approvals in 2014, demonstrating a high level of R&D productivity in the market.”
According to the report, currently, in developing countries, the consumption of food shifted from staples to dairy and meat products because of the rise in disposable income. The increase in livestock leads to the demand for related preventive and curative services. These factors will drive the demand for animal healthcare products.
Further, the report states that patent expiries of approved animal products adversely impact market growth and result in the loss of an exclusive market, leading to rapidly declining sales.
Bayer, Elanco, Merck, Merial, Zoetis, Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, LogiXML, Lohmann Animal Health International, Neogen, Novartis, Thermo Fisher Scientific, Vetoquinol, Virbac