The
global animal health industry is one of the most thriving industries in the
world. Over the past decade the concept of animal health has gained major
importance especially the health of farm animals, owing to the growing
awareness of linkages that exist between animal health, human health and
safety.
Government
regulations which favor the production and use of parasiticides, rising
adoption of companion animals and increasing prevalence of parasites infecting
animals are the major factors which have fuelled the market of parasiticides
globally
Increase
in the spending on products used to treat and prevent diseases in companion
animals and farm animals is the major factor which resulted in high sales in
North America. Moreover, the love for their pets among people residing in North
America and economic stability and willingness to spend more on veterinary care
than on food and other items, further boosts the market in North America.
According
To Ken Research The animal health market in Asia Pacific region has grown
remarkably over the past few years due to the growth in the emerging markets
such as China and India. The major markets of this segment are the UK, Spain,
France and Germany. The Europe animal health market has matured over the period
backed by the increased demand for drugs, vaccines and nutrition supplements
for pets, which are now largely considered as a part of the family.
A rising
trend was observed in the UK termed as the Humanization of pets. Under this
phenomenon the pets were treated as family members, rather mere animals. There
was an increase in the level of understanding and interest in areas such as
animal psychology with several brands of dog anti-depressants available in the
market and preventative pet health plans.
High sales
of products in Americas and Europe helped the company in attaining position in
top companies in global animal health companies. Additionally, the efforts by
the company to expand its portfolio in emerging economies of Asia had also
helped the company in increasing its revenue and are expected to benefit in
future.
Zoetis
launched operational efficiency program where company is reducing complexities
in its product portfolios through the elimination of approximately 5,000 store
keeping units, divestitures, and by changing their marketing strategies in
various countries.
Germany
would maintain its dominance in future and is expected to be one of the leader
of the Europe’s revenue share in 2020. Mandate vaccination laws and love for
pet animals will continue in increasing the demand for animal health products
in the country.
Increasing trend of keeping pets especially in
emerging economies coupled with the rising awareness among pet owners about the
well being of animals is the major factor which has driven the market of
companion animals globally. Dogs and cats segment dominated the companion
animal health market, According To Ken Research.
Topics covered
in The Report
Market Trends Animal
Health
Market Strategy Animal
Health
Poultry Health Market
Anti Infectives
Industry Size
India Animal Health
Market
Zoetis Market Share
Animal Health
Livestock Animal
Health Future
Global Animal Health
Market size
Future Animal Health
For more
information on the market research report please refer to the below link:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
