Publication Month: Apr 2020 |
Report Code: TIPRE00003540
| No. of Pages:
| Category: Pharmaceuticals
| Status: Published
No. of Pages 195
The animal health is maintained through regular screening and diagnosis of health problems. Controlling animal health by preventing animal disease epidemics and monitoring animal food supplies are vital for any economy and the safety of any country's food supply. Breeding of healthy livestock guarantees a safe supply of food and keep selling prices stable. Animal disease epidemic costs millions of dollars owing to livestock trade halts, animal slaughters, and subsequent disease elimination efforts. Animal diseases can adversely affect public health, international trade, and the stability of the agricultural sector. Diagnostics and vaccines can prevent diseases in an animal. Maintaining proper hygiene for the animal through grooming products also help prevent the outbreak of zoonotic diseases. Disease-free and healthy animals are likely to result in safer food supplies, higher farm productivity, reduced environmental impacts, and reduced use of antibiotics.
The global animal health market is segmented into product, animal type, and geography. By geography, the animal health market is broadly segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The global market report offers insights and in-depth analysis of the market. The market research helps analyze various parameters such as market trends, technological advancements, market dynamics, and the competitive analysis of the globally leading market players.
Animals can act as carriers of harmful bacteria, viruses, parasites, and fungi to humans, leading to illness, which are referred as zoonotic diseases or zoonoses. The clinical effect of zoonotic illnesses may range from mild to severe, and might sometimes lead to death. Zoonotic diseases are prevalent in the world. As per the estimates of the Center for Disease Control (CDC), 3 out of every 4 new or upcoming infectious diseases in people comes from animals. In the past decades, many previously unknown infectious human diseases, such as Ebola virus, Human Immunodeficiency Virus (HIV), Nipah virus, West Nile virus, and Hantavirus infections, have emerged from animal reservoirs. Outbreaks such as severe acute respiratory syndrome (SARS) and avian influenza have reminded the potential of microorganisms from animal reservoirs to adapt to human hosts. More than three-quarters of the human diseases that are new, emerging, or re-emerging at the beginning of the 21st century are caused by pathogens that are originated from animals or products of animal origin. According to the WHO, about 1 billion cases of illness and millions of death occur from zoonoses. Hence, emerging and re-emerging of zoonotic diseases have become a significant factor raising the demand for animal health, and this has triggered companies to produce advanced pharmaceuticals and vaccines to help animal owners or other stakeholders to maintain the overall health of animals.
Based on product, the global animal health market is segmented into prescription and non-prescription. The prescription segment is sub-segmented into vaccines, pharmaceuticals, feed additives, and diagnostics. The non-prescription segment is further categorized into parasiticides, grooming products, and nutrition/supplements. In 2019, the prescription segment held a larger share of the animal health market. However, the non-prescription segment is expected to register a higher CAGR during 2020–2027. This is mainly due to the increasing concern of population toward the health of their companion animals along with the massive cost savings with non-prescription products.
Based on animal type, the global animal health market is segmented into production animal and companion animal. In 2019, the production animal segment held a larger share of the market. However, the companion animal segment is estimated to register a higher CAGR during the forecast period. The production animals are also known as livestock animals that are nurtured to produce consumables and non-consumables products. The segment has witness rapid changes in the past few years as the demand for food derived from animals has increased significantly, leading to an increase in livestock production, which is supported by major technological innovations and structural changes across the sector. Through the business point of view, the segment supports more than 1.3 billion people worldwide. Also, it is among the fastest-growing part of the agriculture sector across the world.
|Market Size Value in||US$ 73,798.33 million in 2019|
|Market Size Value by||US$ 119,570.99 million by 2027|
|Growth rate||CAGR of 6.3% from 2020 to 2027.|
|No. of Pages||195|
|No. of Tables||95|
|No. of Charts & Figures||69|
|Historical data available||Yes|
|Segments covered||Product and Animal Type|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Product launches and collaborations are some organic developments adopted strategies by the global animal health market players. Merger & acquisition, collaboration, and partnership by the operating players in the market with an aim to bridge the demand-supply gap are anticipated to play a major role in the growth of the animal health industry during the forecast period. A few of the recent key market developments are listed below:
In February 2020, Zoetis received FDA approval for Simparica Trio, a new combination parasite preventative for dogs. It is a first monthly chewable tablet launched in the US, which provides all-in-one protection from heartworm disease, ticks, and fleas, roundworms, and hookworms in dogs.
In October 2019, Ceva Santé Animale signed an exclusive license agreement with ProBioGen AG, manufacturer of vectorized poultry vaccines by using ProBioGen’s proprietary AGE1.CR technology.
The overall animal health market growth slowed due to increase in the number of COVID-19 infected patients, lockdown across the world, and restrictions on imports and exports. To check the impact of COVID-19 on animals, various studies were conducted to analyze the spread of diseases from animals to humans. In many cases, zoonotic diseases were found in humans due to their interaction with animals. Therefore, government bodies took more precautions and safety measures to prevent the spread of COVID-19 in animals. The measures were widely carried out for companion animals as they frequently came in contact with their owners. For instance, in North America, the cases of detection of COVID-19 were reported to OIE through WAHIS, in accordance with the OIE Terrestrial Animal Health Code as an emerging disease. The OIE actively worked by assisting researchers for their on-going research and other implications of COVID-19 for animal health and veterinary public health. In addition, pharmaceutical companies operating in the animal health sectors were slightly affected due to lockdown. The lockdown impacted the worldwide imports and exports of pharmaceutical products for animals, leading to the shortage of supplies for nutrition feeds and animal additives. However, with the removal of lockdown and ease in restrictions, the global animal health market will grow at a steady pace during the forecast period.
The List of Companies - Animal Health Market