Market Executive Summary

REPORT HIGHLIGHT
The animal health market is estimated to represent a global market of USD 35.2 billion by 2017 with growth rate of 5.2%. Animal health related products covers feed additives, pharmaceuticals and vaccines which contribute significantly to the health and well-being of food producing and companion animals. Technology improvements in animal health sector of the food chain, such as farming techniques, medicine processing and development is considered to be the potential growth factor of the market. This growing animal health industry experiences the intersection of two important areas that affect the lives of global population which is companion animal care and livestock production.
In terms of products, the market is categorized as Feed Additives, Pharmaceuticals and Vaccines. Advancements in the field of feed additives in terms of metabolic modifiers, enzymes, minerals, and probiotics helped this segment to capture large share of the market. Pharmaceuticals is considered to be the second largest market and is anticipated to grow with highest CAGR.
Animal types segment is divided into production animal and companion animal. Production animal held largest market share, i.e. USD 25.6 billion in 2017 and is projected to dominate the market share during the forecast period. Animal health products is required to grand a marketing authorization before commercialization (referred as ?registration?). It is required to ensure safety, efficacy and quality of the animal products through a regulatory review. Strict guidelines for this regulatory review is expected to hamper the market growth to some extent.
Developed regions such as North America and Europe contributed largest share, representing 65.8% of its global counterpart. Increasing government and non-government initiatives in favor of animal health related products drives the market in developed regions. For example, IFAH (International Federation for Animal Health) Europe is the organization primarily engaged in research, development and manufacturing of animal medicines, vaccines and health related products. Presence of these types of organizations in Europe supports the growth of regional market to great extent.
Key Companies studied under the report scope are: Elanco, Virbac, Nutreco N.V., Ceva Sante Animale, Bayer AG, Merck & Co. AG, and others. The market is highly competitive in nature and a considerable number of players, which have a high level of dominance over the overall revenue share. Market players are engaged in extensive research for the development of cost efficient and highly technologically advanced animal health products. Introduction of such efficient products are expected to provide this market with lucrative growth opportunities.
The market size and forecast for each segment has been provided for the period 2014 to 2028, considering 2017 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2017 to 2028 for every reported segment.
The years considered for the study are:
Historical Year ? 2014 & 2017
Base Year ? 2017
Estimated Year ? 2017
Projected Year ? 2028
TARGET AUDIENCE
Hospitals
Manufacturers
Traders, Distributors, And Suppliers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET,BY PRODUCTS
Feed Additives
Pharmaceuticals
Vaccines
MARKET, BY ANIMAL TYPES
Production
Companion
MARKET,BY REGION
North America
Europe
Asia Pacific
Rest of the World
MARKET,BY COUNTRY
Further Breakdown of The North America Market
U.S.
Canada
Further Breakdown of The Europe Market
Germany
France
Rest of Europe
Further Breakdown of The APAC Market
India
China
Rest of APAC
Further Breakdown of The Rest of the World Market
Middle East and Africa
Latin America