An Insight into The Animal Health Market

Published Date : Jul 14, 2014

Just like human health, animal health is also an area where research and development is an ongoing process. The animal health market [] comprises vaccines, medicinal feed additives, as well as pharmaceuticals. All of these products are aimed at maintaining the health and well-being of animals, both livestock (food-producing) and companion animals. Food-producing animals or livestock are crucial because they provide us with a variety of products such as meat, milk, leather and hide. Animals that are regarded as livestock include: sheep, fish, cows and buffalos, goats, and swine. On the other hand, companion animals such as horses, dogs, and cats, are ones that are owned by humans for companionship, leisure, or protection. The animal health market is geared towards helping maintain the well-being and health of animals, and preventing or treating diseases among them. 

The need for animal health products and services

Just like humans, animals suffer from various health ailments and diseases. The only solution to the health problems of animals is optimal medical treatment and the administration of drugs in the right quantity. Animal health or veterinary sciences are a healthcare discipline that is practiced by certified veterinarians. There are a variety of veterinary health products available in the market today. These include: biological products, veterinary pharmaceuticals, and medical feed additives (MFAs). Over the years, these products have been improved via in-depth research and development, thus transforming the overall status of animal health and welfare. 

Livestock diseases could potentially cost millions of dollars by way of losses, and this can be prevented by timely vaccinations and medication. Diseases in animals, if not curbed and treated at the right time, could also lead to infections among human beings. That’s precisely why leading names in the pharmaceutical industry are investing in intensive research efforts to come up with complex and highly effective animal health products. The range of animal health products continues to become wide, and today, it includes specialized products under categories such as: anti-infectivess, reproductive aids, parasite control, topical solutions, antibiotics, metabolic drugs, vaccines, and feed additives. Man novel treatments are being developed to treat chronic conditions such as cancer, cardiovascular diseases, as well as other ailments such as osteoarthritis. 
Factors boosting growth 

Considering that the animal health market has grown by leaps and bounds in the last few years, it is evident that there is no dearth of growth boosters in this market. Some reasons that can be attributed to the growth of this animal health market include higher disposable income in developing countries such as India, Brazil, Indonesia, China, Taiwan, China and Malaysia. The higher disposable income not only allows people to invest in pets, but to also take care of their health and well-being using animal healthcare products.

Reports by market research agencies show that the rate of pet ownership in these countries is increasing and there is a higher demand for better nutrition. Pet owners and livestock owners are more committed to providing the right nutrition to their pets. 

Another important factor that cannot be overlooked is the increasing population, and a consequential increase in the demand for livestock products such as meat and dairy. This also means that livestock owners have to invest in the right nutrition to harness the maximum produce from their livestock. Thus, there are a number of products now available in the animal health market that are focused entirely on improving production efficiency of livestock. 

Market analysts anticipate this market to growth further in the years to come. The market will witness higher specialization largely because of the changing demographic trends, as well as a transition in social and economic dynamics.

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