Global Animal Health Market (Factor COVID-19) – Growth Outlook, Competitor Analysis, Regional Insights, Market Trend Analysis, SWOT Analysis, and Forecast 2021-2026

Animal health is expected to slow its growth over the next four years. According to World Knowledge Information (WKI) “Global Animal Health Professional Survey Report 2021, Forecast to 2026”, due to increasing incidence of zoonotic diseases, spending on animal health, increasing number of animals and the increase in pet insurance. , it is expected to promote the growth of the animal health industry market. The compound annual growth rate (CAGR) for the period 2021-2026 is expected to be 5.8% based on the WKI regression analysis model.

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Analysts’ point of view:

“The lives of animals are just as important, and their health can affect humans as well. Market players must strictly control product safety. “said Mia, senior analyst, Pharma & Healthcare Market Research Center at WKI.” Farmers may over-administer animal health drugs in an attempt to increase production, but this is likely to harm animals and even to final food consumers. “

Market Snapshot:

Growing urbanization and changing lifestyles have led to changes in food consumption patterns, leading to an increase in the global consumption of milk and meat. In this regard, animal products have become the basic source of dietary protein. More and more consumers want high quality products. In addition, most countries have formulated relevant laws and regulations on livestock safety issues, which will promote the development of large-scale animal health industry. Advances in veterinary care technology have also favored the development of the market, which is expected to provide future growth opportunities. These advances include the emergence of efficient information management systems, mobile technologies for animal owners, and vaccine libraries. The increase in the number of elderly people and the increase in the number of DINK couples use pets to accompany each other, which leads to an increase in the number of pets, which also promotes the development of the care market. pet health.

Competition landscape:

Major market players use sustainability strategies, such as expanding product portfolio, to gain competitive advantage. For example, in April 2019, Merck acquired Antelliq Corp., operating in the field of digital solutions for the identification, traceability and monitoring of animals. This acquisition enabled the former company to improve its portfolio of veterinary vaccines and pharmaceutical solutions. This WKI market report is designed to help clients improve their market position, and as part of it this report provides detailed analysis of several leading animal health companies which include CevaSantéAnimale, Merck Animal Health, Elanco, Boehringer Ingelheim, Zoetis and others.

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Segmentation of the animal health market:

Animal health products mainly include drugs, diagnostic agents, vaccines, food additives, etc. The field of food additives occupies the highest market share. Mainly due to the continued advancement of food additives including the use of metabolic regulators, enzymes, minerals and probiotics, it is expected to maintain its dominance throughout the forecast period. Among them, the sales of nutritional additives are better. Depending on the type, the market is divided into production animals and pets. According to the Food and Agriculture Organization, in emerging economies, foods of animal origin represent one third of human protein consumption, thus increasing the productivity of livestock, which is essential to meet dietary needs. of a growing population. These factors cumulatively constitute an important part of the share of production animals. Based on distribution channels, the market has been segmented into veterinary hospitals and clinics, e-commerce, and retail. Veterinary hospitals and clinics dominate the market. The large part of this part can be attributed to the increasing number of hospital pharmacies, coupled with the large number of procedures due to the frequent adoption of pets for treatment, which supports the growth of this field.

Animal health market: regional analysis

In terms of geography, the global animal health market has been segmented into: North America, Asia-Pacific, Europe, South America, Middle East and Africa. As various government animal welfare organizations have adopted a series of decisive measures, these efforts have been devoted to improving animal health as a whole, so that North America has the largest share of revenue. in the world market. Due to increased demand for animal protein, increased production, and emphasis on food safety, the United States is likely to dominate the region’s animal health market. The Asia-Pacific region is expected to be the fastest growing regional market during the forecast period. This growth is attributed to various factors, such as the constant investments in R&D by well-known companies in the field of animal health, as well as an increased awareness of the nutrition and supply of companion animals, and the increased levels of disposable income, which should support market growth. In the region.

Boyd S. Abbott

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