Published Date : Jun 20, 2016
In the recent past, animal healthcare has gained some serious attention from pharmaceutical companies. The realization that animal healthcare is crucial to human health has been the driving force behind the success of the global animal healthcare market. The increasing population of animals has also the outlined the changing structure of the global animal healthcare market. This market divides itself in two, namely, animal population that is termed companion and production. The former refers to pets that people adopt or animals that are domesticated, while the latter refers to the animal population that is bred for obtaining dairy products.
Rise of Animal Diseases Drives Overall Market
The high incidence of animal diseases and the contraction of the same by humans has been at the fulcrum of the progress of the global animal healthcare market. Animal-related diseases spread through consumption as well as through owning them as pets. To prevent these, both poultry owners and pet owners are investing in animal healthcare products such as vaccines, feed additives, and pharmaceuticals.
Feed Additives Segment Emerges as Leading Segment
Research suggests that the feed additives segment is expected to grow significantly in the coming few years. This segment is further divided into medicinal feed additives and nutritional feed additives. The medicinal feed additives include probiotics and prebiotics, hormones, immune-modulators, enzymes, and feed acidifiers that treat specific diseases in animals. On the other hand, nutritional feed additives comprises minerals, amino acids, and vitamins. The feed additives segment is anticipated to grow due to the increasing population of production animals that have be brought up with the right nutrition.
The only challenge in the overall animal healthcare market is the strict regulatory framework against the usage of antibiotics for production animals. The protests staged by animal activities and research groups are likely to hamper the growth of vaccines used for production animals in the near future.