Global Animal Healthcare Market: Overview
Companion animals are those animals that give companionship to mankind and guard their houses and offices. Many people adopt animals as the companion or other psychological benefits. Cats and dogs are common companion animals for emotional benefits. People in India and China keep companion animals owing to the acceptance of Western culture and lifestyle. Rising frequency of the diseases such as zoonotic and foodborne diseases is, in turn, growing concerns for animal healthcare. In some countries such as the U.S., brucellosis still causes abortion in animals.
Global Animal Healthcare Market: Segmentation
The global animal healthcare market is bifurcated based on types as vaccines, feed additives, and pharmaceuticals. Feed additives are further sub-categorized into medicinal feed additives and nutritional feed additives. The nutritional feed additives consist of vitamins, amino acids, and minerals that are useful for animal growth and production. Moreover, medicinal feed additives consist of prebiotics, enzymes, feed acidifiers, hormones, and immune-modulators, to recover from targeted diseases in companion and production animals. Furthermore, pharmaceutical products include anti-inflammatories, endo parasiticides, antibiotics, ectoparasiticides, endectocides, and others. Vaccines prevent the animal from certain diseases.
Global Animal Healthcare Market: Growth Factors
Rising incidences of bacterial infections in animals are driving the global animal healthcare market. Growing chances of the animal disease transmission to humans is also anticipated to boost the animal healthcare market in the near future. Moreover, increasing the population of companion animals is expected to foster the market growth. Furthermore, a number of production animals are also growing; this, in turn, is anticipated to fuel the market demand in future.
Global Animal Healthcare Market: Regional Analysis
North America is the global player in the animal healthcare market and is as considered as the home for many healthcare industries for the animal. This trend is followed by Europe accounting for the largest market share in the global market. Asia Pacific is also a major animal meat producer and consumer; this is expected to further contribute to the global animal healthcare market growth. Moreover, Latin America is an emerging market for animal healthcare showing a considerable growth in the market. Pharmaceuticals market in Europe is also expected to provide ample opportunities to the niche player in the market in near future.
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Global Animal Healthcare Market: Competitive Players
Some of the major players in the global animal healthcare market are Nutreco N.V., Merck & Co., Inc. Virbac S.A., Boehringer Ingelheim GmbH, Sanofi S.A., Ceva Santé Animale, Zoetis, Inc., Bayer Healthcare AG, and Vetoquinol SA. Other key players in the global market are Cargill Inc., Koninklijke DSM N.V, Evonik Industries AG, and ADM Alliance Nutrition.