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Animal Healthcare Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 122
  • SKU: IRTNTR40456
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The animal healthcare market share is expected to increase by USD 7.98 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.1%.

This animal healthcare market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers animal healthcare market segmentations by product (pharmaceutical, feed additive, and biologicals) and geographic (North America, Europe, APAC, and South America). The animal healthcare market report also offers information on several market vendors, including Bayer AG, C. H. Boehringer Sohn AG & Co. KG, Cadila Healthcare Ltd., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Heska Corp., Merck & Co. Inc., Norbrook Laboratories Ltd., Virbac SA, and Zoetis Inc. among others.

What will the Animal Healthcare Market Size be During the Forecast Period?

Animal Healthcare Market Size

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Animal Healthcare Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in animal ownership is notably driving the animal healthcare market growth, although factors such as contamination of animal source foods may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the animal healthcare industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Animal Healthcare Market Driver

One of the key factors driving the animal healthcare market growth is the increase in animal ownership. Dogs remain the most popular type of pet, with almost two in five households owning a dog. Cats were the next most common type of pet, with nearly three in 10 households owning a cat. The increase in disposable income is one of the reasons for the rise in animal ownership to provide companionship and entertainment. People have started recognizing these pets as family members who have diverted the focus toward better health services for these animals. Globally, the owners of pets ensure that the quality of ingredients and manufacturing standards of their companion animal products are as good as products intended for humans. Participation of animals in sports is also increasing. Racing, one-on-one and team events, hunting, and fighting are some of the sports in which animals are participating increasingly. This has increased the focus towards improved animal health care for the optimal performance of animals in sports. Thus, an increase in animal ownership has increased the demand for animal healthcare products and will continue in the future, thus benefiting the market.

Key Animal Healthcare Market Trend

Rising awareness about disease prevention and pet insurance is the major trend influencing the animal healthcare market growth. Nowadays, preventive healthcare is gaining popularity across regions, globally. Preventive healthcare includes the periodic examination of animals to determine vaccinations, nutrition, dental care, and other risk factor assessments. Pet owners vaccinate their pets as recommended as there is an increasing awareness about various pet diseases. This increasing awareness is contributing to the early diagnosis of diseases, which helps to enhance clinical outcomes. Pet owners are also opting for healthcare insurance for their pets. The increase in animal insurance provides the opportunity for better treatment and care for these animals. This fuels the growth of the animal healthcare market as pet owners do not hesitate to buy expensive medicines covered by an insurance policy. Therefore, the rising awareness about disease prevention and pet insurance is expected to drive the growth of the animal healthcare market.

Key Animal Healthcare Market Challenge

Contamination of animal source foods is one of the key challenges hindering the animal healthcare market growth. Foods containing eggs, meat, and dietary products are loaded with hormones, bacteria, dioxins, and other toxins that cause serious health problems in humans. Eating flesh contaminated with bacteria cause food poisoning, with symptoms ranging from stomach cramps and diarrhea to organ failure and death. For instance, in the US, around 23% of cases of food poisoning annually are caused by contaminated animal flesh. Dangerous hormones increase the risk of disrupted development and cancer in humans, in addition to other disorders such as gynecomastia and enlarged male breasts. Dioxins are a powerful hormone-disrupting group of chemicals that bind to a cell and modifies its functioning, potentially causing an extensive range of effects, including depressed immune response, cancer, nervous system disorders, miscarriages, and birth deformities. Thus, these factors will reduce the consumption of animal-source foods, which will discourage the animal owners from using feed additives products such as vitamins, minerals, and probiotics in animals used for increasing muscle growth, milk production, and egg production, which hinders the growth of the market.

This animal healthcare market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global animal healthcare market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the animal healthcare market during the forecast period.

Who are the Major Animal Healthcare Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Bayer AG
  • C. H. Boehringer Sohn AG & Co. KG
  • Cadila Healthcare Ltd.
  • Dechra Pharmaceuticals Plc
  • Elanco Animal Health Inc.
  • Heska Corp.
  • Merck & Co. Inc.
  • Norbrook Laboratories Ltd.
  • Virbac SA
  • Zoetis Inc.

This statistical study of the animal healthcare market encompasses successful business strategies deployed by the key vendors. The animal healthcare market is concentrated and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Bayer AG - It is an anticoccidial parasiticide, which is used for farm animals.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The animal healthcare market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Animal Healthcare Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the animal healthcare market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Animal Healthcare Market?

Animal Healthcare Market Market segmentation by region

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43% of the market's growth will originate from North America during the forecast period. US is the key market for animal healthcare in North America. Market growth in this region will be slower than the growth of the market in APAC regions.

Owing to the presence animal health companies such as Zoetis, which is continuously focused on the development of novel animal healthcare products for enhancing the quality of their life will facilitate the animal healthcare market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The animal healthcare market in North America witnessed certain challenges in 2020 due to the COVID-19 pandemic. The US has been the most affected country by the pandemic in the region. The COVID-19 pandemic affected the supply chains for animal healthcare products in North America due to limited workforce availability in transportation and logistics. Furthermore, panic-induced buying by consumers due to the implementation of stay-at-home orders by the US government fueled the demand for animal healthcare products in the US in 2020. The development and distribution of vaccines for COVID-19 and the lifting of restrictive measures will aid the growth of the North American market during the forecast period.

What are the Revenue-generating Product Segments in the Animal Healthcare Market?

Animal Healthcare Market Segmentation

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The animal healthcare market share growth by the pharmaceutical will be significant during the forecast period. The pharmaceuticals segment of the global animal healthcare market includes several drugs such as ectoparasiticides, endoparasiticides, and anti-inflammatories, which come in different forms such as sprays, creams/ointments, tablets, and injectables. Animal pharmaceutical products help in the treatment of various diseases such as tick-borne diseases, rabies, and fever, and thus, benefitting the market growth.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the animal healthcare market size and actionable market insights on post COVID-19 impact on each segment.

 

Animal Healthcare Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.1%

Market growth 2021-2025

$ 7.98 billion

Market structure

Concentrated

YoY growth (%)

3.29

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 43%

Key consumer countries

US, China, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bayer AG, C. H. Boehringer Sohn AG & Co. KG, Cadila Healthcare Ltd., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Heska Corp., Merck & Co. Inc., Norbrook Laboratories Ltd., Virbac SA, and Zoetis Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Animal Healthcare Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive animal healthcare market growth during the next five years
  • Precise estimation of the animal healthcare market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the animal healthcare industry across North America, Europe, APAC, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of animal healthcare market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Pharmaceuticals market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five force summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Pharmaceutical - Market size and forecast 2020-2025
      • Exhibit 17: Pharmaceutical - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Pharmaceutical - Year-over-year growth 2020-2025 (%)
    • 5.4 Feed additive - Market size and forecast 2020-2025
      • Exhibit 19: Feed additive - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Feed additive - Year-over-year growth 2020-2025 (%)
    • 5.5 Biologicals - Market size and forecast 2020-2025
      • Exhibit 21: Biologicals - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 22: Biologicals - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Customer landscape

    • 6.1 Customer Landscape
      • Exhibit 24: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 27: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 Asia - Market size and forecast 2020-2025
      • Exhibit 31: Asia - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: Asia - Year-over-year growth 2020-2025 (%)
    • 7.6 ROW - Market size and forecast 2020-2025
      • Exhibit 33: ROW - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: ROW - Year-over-year growth 2020-2025 (%)
    • 7.7 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.8 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor Landscape
          • Exhibit 38: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 39: Landscape disruption
          • Exhibit 40: Industry risks
        • 9.3 Competitive scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 42: Market positioning of vendors
          • 10.3 C. H. Boehringer Sohn AG and Co. KG
            • Exhibit 43: C. H. Boehringer Sohn AG and Co. KG - Overview
            • Exhibit 44: C. H. Boehringer Sohn AG and Co. KG - Business segments
            • Exhibit 45: C. H. Boehringer Sohn AG and Co. KG - Key offerings
            • Exhibit 46: C. H. Boehringer Sohn AG and Co. KG - Segment focus
          • 10.4 Cadila Healthcare Ltd.
            • 10.5 Dechra Pharmaceuticals Plc
              • Exhibit 50: Dechra Pharmaceuticals Plc - Overview
              • Exhibit 51: Dechra Pharmaceuticals Plc - Product and service
              • Exhibit 52: Dechra Pharmaceuticals Plc - Key offerings
            • 10.6 Elanco Animal Health Inc.
              • Exhibit 53: Elanco Animal Health Inc. - Overview
              • Exhibit 54: Elanco Animal Health Inc. - Product and service
              • Exhibit 55: Elanco Animal Health Inc. - Key news
              • Exhibit 56: Elanco Animal Health Inc. - Key offerings
            • 10.7 Heska Corp.
              • Exhibit 57: Heska Corp. - Overview
              • Exhibit 58: Heska Corp. - Business segments
              • Exhibit 59: Heska Corp. - Key offerings
              • Exhibit 60: Heska Corp. - Segment focus
            • 10.8 Hester Biosciences Ltd.
              • Exhibit 61: Hester Biosciences Ltd. - Overview
              • Exhibit 62: Hester Biosciences Ltd. - Business segments
              • Exhibit 63: Hester Biosciences Ltd. - Key offerings
              • Exhibit 64: Hester Biosciences Ltd. - Segment focus
            • 10.9 Merck and Co. Inc.
              • Exhibit 65: Merck and Co. Inc. - Overview
              • Exhibit 66: Merck and Co. Inc. - Business segments
              • Exhibit 67: Merck and Co. Inc. - Key news
              • Exhibit 68: Merck and Co. Inc. - Key offerings
              • Exhibit 69: Merck and Co. Inc. - Segment focus
            • 10.10 Norbrook Laboratories Ltd.
              • Exhibit 70: Norbrook Laboratories Ltd. - Overview
              • Exhibit 71: Norbrook Laboratories Ltd. - Product and service
              • Exhibit 72: Norbrook Laboratories Ltd. - Key offerings
            • 10.11 Virbac
              • Exhibit 73: Virbac - Overview
              • Exhibit 74: Virbac - Business segments
              • Exhibit 75: Virbac - Key offerings
              • Exhibit 76: Virbac - Segment focus
            • 10.12 Zoetis Inc.
              • Exhibit 77: Zoetis Inc. - Overview
              • Exhibit 78: Zoetis Inc. - Business segments
              • Exhibit 79: Zoetis Inc. - Key offerings
              • Exhibit 80: Zoetis Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 81: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 82: Research Methodology
                • Exhibit 83: Validation techniques employed for market sizing
                • Exhibit 84: Information sources
              • 11.4 List of abbreviations
                • Exhibit 85: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Animal Healthcare Market market growth will increase by $7.98 bn during 2021-2025.
              The animal healthcare market market is expected to grow at a CAGR of 4.1% during 2021-2025.
              Technavio has segmented the animal healthcare market market by product (pharmaceutical, feed additive, and biologicals) and geographic (North America, Europe, APAC, South America, North America, Europe, APAC, and South America).
              Bayer AG, C. H. Boehringer Sohn AG & Co. KG, Cadila Healthcare Ltd., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Heska Corp., Merck & Co. Inc., Norbrook Laboratories Ltd., Virbac SA, Zoetis Inc. are a few of the key vendors in the animal healthcare market market.
              North America will register the highest growth rate of 43% among the other regions. Therefore, the animal healthcare market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the animal healthcare market market growth are:
              • increase in animal ownership
              • Increase in consumer preference towards protein-rich food
              The animal healthcare market market vendors should focus on grabbing business opportunities from the pharmaceutical segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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