Research Nester has recently announced new market demand assessment research titled “Animal Healthcare (Medicine/Drug) Market – Global Demand Analysis & Opportunity Outlook 2021”. The global market study provides a granular data and in-depth analysis on the current and future market situations that are crucial for the existing &new players in the market. The industry research is based on key factors like demand & supply analysis, commercial activities, research investments, pricing analysis, government initiatives & guidelines, driving forces in the market, roadblocks and segmentation based on the product viability.
Geographically, animal healthcare market is segmented into North America, Latin America, Europe, Asia Pacific, Africa and Middle East. In 2014, North America dominates the animal healthcare market with around 35 percent of market share followed by Europe at 28%. Emerging markets like Asia – Pacific is anticipated to have a rapid growth in animal healthcare market by 2020. This burgeoned growth in animal healthcare market in countries like Asia and China can be attributed to the increased trend of adopting pet animals in these countries. The animal healthcare market of India is estimated to have a fastest growth at around 10% CAGR by 2020.
North America dominates the animal healthcare market in the world with approximately 35 percent share of market recorded in 2014. It leads in almost every animal healthcare market segment including vaccine, medical feed, anti-infective or diagnostic market. The U.S. and Canada are the two prominent markets of animal healthcare in North America. The market of animal healthcare in North America is mainly boosted by the rising awareness about animal related diseases and food safety. Furthermore, it is expected that North America will continue to maintain its largest share globally for animal healthcare products and services in near future.
North America is the leader of animal healthcare market in the world and touched USD 6,800 million in 2014. Further, it is anticipated that the veterinary market in North America will escalate at a CAGR of around 6% during 2015-2020. Increasing awareness about animal related diseases and rising demand for safer animal related products have fuelled the animal healthcare market of North America in recent times.
The U.S. and Canada are the two major animal healthcare markets in North America. It is anticipated that the animal healthcare market in the U.S. will grow at a CAGR of 5.25% in next five years. The future of animal healthcare market in the U.S. will be driven by the requirement to enhance the production of animal related products (milk, egg, meat and other dairy products).
Following the same trend, the animal healthcare market in Canada will also receive a significant boost in near future. The animal vaccine market in Canada is expected to expand from USD 490 million USD in 2014 to approximately USD 630 million by 2019 at around 5.4% CAGR.
Demand Analysis By Animals
- Commercial animals
- Companion animals
The major players in the North American animal healthcare market are Zoetis, Merck, Bayer Health Care, Pfizer, Sanofi-Aventis, Ceva, Virbac, Boehringer Ingelheim, Heska Corporation, Bioniche Animal Health Canada Inc., Merial, etc.
- North America (United States / U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia, Poland, Rest of Eastern Europe)
- Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
- Rest of World
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