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Global Veterinary Healthcare Market

March 24, 2018

Global Veterinary Healthcare Market, By Product Type (Therapeutics (Vaccines, Parasiticides, Anti-infectives, Medical Feed Additives, and Other Therapeutics), and Diagnostics (Immunodiagnostic Tests. Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, Other Diagnostics)), By Animal Type (Sheep, Horses, Swine, Poultry, Ruminants, Dogs, Cats, and Others), Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa), Global Forecast, 2020-2025.

Report Code :FMR413      
Pages :190 Pages
Format :   PPT Format   PDF Format

The global veterinary healthcare market was valued at USD xx million in 2018. This market is estimated to be valued at USD xx million in the year 2019, and it is expected to reach USD xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). Veterinary Healthcare comprises veterinary services, animal medicine and veterinary medical equipment. Veterinary medicine can be defined as a science related to the diagnosis, treatment and prevention of disease in animals. Growth in the veterinary health market is growing in importance for the production of livestock animals.

Table 1. Global Veterinary Healthcare Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Product Type)

Therapeutics (Vaccines, Parasiticides, Anti-infectives, Medical Feed Additives, and Other Therapeutics), Diagnostics (Immunodiagnostic Tests. Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, Other Diagnostics)

Market Segmentation (By Animal Type)

Sheep, Horses, Swine, Poultry, Ruminants, Dogs, Cats, and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East & Africa

Key Players Coverage

Novartis AG, Zoetis Inc, Virbac S.A, Cargill Incorporated, Bayer AG, Novasep, Nutreco NV, Sanofi SA, Boehringer Ingelheim, Ceva Animal Health LLC, Elanco Animal Health, Vetoquinol, Phibro Animal Health, and Eli Lili and Company, among others

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

The veterinary healthcare market is on the rise as a result of increasing initiatives from governments and animal welfare associations worldwide. For instance, in December 2018, Boehringer Ingelheim launched the 'LastMile' initiative, an integrated, solutions-driven program aimed at addressing key animal health challenges. This has been creating a consistent availability of animal health resources in untapped regions. Additionally, the global veterinary healthcare market is rising due to a variety of factors such as increasing the occurrence of zoonotic diseases, increasing knowledge of animal welfare, technical advancements in animal health diagnostics and increasing policy initiatives by the global veterinary medical association. For Instance, in March 2020, World Health Organization (WHO) report showed that 61% of all current human diseases are zoonotic in origin, and that 75% of emerging human diseases are zoonotic.

Figure 1. PORTER’S Analysis

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

North America is expected to have the largest market share for veterinary healthcare in 2019 and is expected to sustain growth over the forecast period. The U.S has the highest market share in North America's domestic animal welfare market due to a growing number of pet owners, growing developments in animal health facilities and rising spending on animal safety. For instance, in 2016, Americans spent over US$ 75.5 billion on their dogs, according to the Bureau of Labor Statistics. Asia-Pacific is expected to be the fastest growing market, specifically China leads this region. According to Polish Investment and Trade Agency China Trade Office in Shanghai, in 2017, Twenty-five percent of Beijing residents own dogs, while eight percent own cats. Moreover, Disposable income in urban Chinese households has increased every year since 2010 and continues to rise.

Figure 2. Regional Analysis

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players in global veterinary healthcare market include Novartis AG, Zoetis Inc, Virbac S.A, Cargill Incorporated, Bayer AG, Novasep, Nutreco NV, Sanofi SA, Boehringer Ingelheim, Ceva Animal Health LLC, Elanco Animal Health, Vetoquinol, Phibro Animal Health and Eli Lili and Company, among others. Various growth strategies, such as product launches, leads to the growth of the veterinary health care market worldwide. For instance, in January 2019, Boehringer Ingelheim, introduced Ingelvac PRRS MLV, a pig vaccine developed by its veterinary vaccine supplier. Additionally, in February 2017, Zoetis also obtained clearance from the European Commission for “stronghold plus”, a new topical parasiticide for cats that combines with selamectin broadened and extended spectrum of protection.

Figure 3. Market Share of Key Players, 2019

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

By Product Type

  • Therapeutics
    • Vaccines
    • Parasiticides
    • Anti-infectives
    • Medical Feed Additives
    • Other Therapeutics
  • Diagnostics
    • Immunodiagnostic Tests
    • Molecular Diagnostics
    • Diagnostic Imaging
    • Clinical Chemistry
    • Other Diagnostics

By Animal Type

  • Cattle
  • Sheep
  • Horses
  • Swine
  • Poultry
  • Ruminants
  • Dogs
  • Cats
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
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Note:This report provides in-depth analysis of the global veterinary healthcare market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global veterinary healthcare market?
  • What key factors are expected to increase the demand for veterinary healthcare market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global veterinary healthcare market?
  • What is the total market value (US$ Mn) generated in global veterinary healthcare market by product type in 2019 and what are the forecasts by 2025?
  • Which animal type is expected to dominate the veterinary healthcare market in the coming years?
  • What was the total revenue generated by the global veterinary healthcare market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing the growth of the global veterinary healthcare market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the veterinary healthcare market?
  • What are the major outcomes derive from the Porter’s five forces?
  • What new products going to be approved or launched in the coming years which may have huge impact in the market?
  • What insights are deriving through the analysis of key players on following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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