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Persistence Market Research Released New Market Report on “Global Market Study
on Animal Healthcare: Feed Additives to Witness Highest Growth by 2019,” the
global animal healthcare market was valued at USD 27,861.2 million in 2013 and is
expected to grow at a CAGR of 7.1% from 2014 to 2019, to reach an estimated value
of USD 41,929.1 million in 2019.
Increasing population of companion and production animals is driving the global
animal healthcare market. The animals that serve man by giving companionship and
guarding their houses/offices are termed as companion animals, while those animals
which serve mankind with their meat and milk and fur are called production animals.
The new types of diseases in animals and their transfer to humans via their product
consumption and companionship are escalating the animal healthcare market
globally. However, some challenges in the form of regulations have emerged against
the excess use of antibiotics in production animals, and legislations and protest of
animal activists and institutions against animal research.
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The animal healthcare market is very competitive with the top ten players accounting
for about three-fourth of the market. The companies are focusing on their research
and development activities to produce better pharmaceutical and vaccine products for
the existing and newly diagnosed diseases.
Increasing per-capita income level, changing lifestyle, and growing population has
increased global meat consumption. The number of animal farms is also increasing
globally due to increasing demand for protein rich food such as meat, eggs and milk.
The healthcare expenditure in such farms has been increasing, due to the growth in
animal numbers in the farms and increasing concern for their health.
According to the European Food Safety Authority (EFSA), around 3, 20,000 cases of
food-borne and zoonotic diseases are reported each year in the European Union. The
consumption of Campylobacteriosis (a zoonotic disease) induced broiler meat
affected 220,209 people in the European Union (EU) countries in 2012.
However, the excessive use of antibiotics in production animals have led to
challenges for the industry in the form of regulations and protest of animal activists
against research on animals.
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The animal healthcare market is segmented as feed additives, pharmaceuticals and
vaccines. Feed additives can be further categorized as nutritional feed additives and
medicinal feed additives. Nutritional feed additives include amino acids, minerals and
vitamins and are used for production animals for their optimal growth. Medicinal
feed additives on the other hand include hormones, enzymes, immune-modulators,
probiotics and prebiotics and feed acidifiers which target specific diseases in
production and companion animals. Pharmaceutical products mainly comprise of
endoparasiticides, ectoparasiticides, endectocides, antibiotics, anti-inflammatories
and medicines for reproductive problems. Vaccines make animals disease-immune for
a particular disease.
Feed additives had the largest share among the product segments in the animal
healthcare market. The other two segments included pharmaceuticals and vaccines.
While the feed additives market is growing mainly due to the increasing production
of animal population, the pharmaceuticals and vaccines segments are being driven by
the increasing incidence of animal diseases and increasing concern for animal
immunization against diseases.
Among the regions, North America was the global leader in 2013 with 31.7% share,
followed by Europe and Asia-Pacific. North America is expected to retain its
leadership by 2019; however a fall in its market share is expected, due to increasing
market share of Asia-Pacific. The Asia-Pacific animal healthcare market witnessed
the highest growth rate during 2010-2013 due to increase in the population of both
production and companion animals. It is expected to retain its high growth rate during
2014-2019. Pet adoption is becoming a trend among the middle- and upper-class
population in China and India due to their increasing population and income levels.
This holds significant opportunity for the animal healthcare market in the region.
Global animal healthcare market is highly fragmented wherein the market shares of
top ten players sum up to less than 75%. High degree of mergers, acquisitions and
joint ventures taking place in the last few years has kept the market volatile.
However, the competition is expected to reduce in the long run due to increasing
consolidation activities. The changing regulatory environment in animal healthcare
and emergence of new companies may introduce competition of a different level in
the global market.
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