Animal Healthcare Market Research Reports and Industry Analysis

Published Date : Oct 28, 2014

The animal healthcare market [] is primarily composed of three components: pharmaceuticals, feed additives, and vaccines. The feed additives market is one that will register the highest growth rate in the overall animal healthcare market over the coming years. According to market research reports, the global animal healthcare market will stand at US$ 41,929.1 million by the end of 2019, globally. In 2013, this market was estimated at US$ 27,861.2 million. Thus, the projected CAGR of the global animal healthcare market is 7.1% between 2014 and 2019.

Feed additives, the most promising market within the animal healthcare industry, is further composed of segments such as medicinal feed additives and nutritional feed additives. As meat consumption continues to be on an upswing, the demand for healthy, diseases free livestock is rising as well. This has led to a palpable demand for feed additives that not only provide nutrition to animals, but also keep diseases at bay.

Just like feed additives, the pharmaceutical products segment within the animal healthcare market can be split into antibiotics, endoparasiticides, endectocides, ectoparasiticides, medicines for reproductive problems and anti-inflammatory drugs. 

The need for animal healthcare products has also arisen because of a growing number of people keeping pets as companions – especially in the case of the aged population, single-person households, and small families. Production animals are being reared on a larger scale to meet the growing demand for meat. With new diseases in animals coming to the fore once in a while, the animal healthcare market has to remain responsive to addressing these health challenges.

A key factor inhibiting growth in the animal healthcare market is the existence of a myriad of regulations that have become more stringent with every passing year. Moreover, animal activists are strengthening their demand for banning animal research, forcing players in this market to look for other ways to test the efficacy of their products.

The market research reports on MRRBiz touch upon all of these burning issues that will likely impede or encourage growth in the global animal healthcare market.