FORECAST OF FUTURE DEVELOPMENT IN THE GLOBAL ANIMAL MARKET TO 2018

The prognosis for the global animal health market till 2018 – boosting the consumption of meat in order to increase demand for animal health goods offers a comprehensive summary of the animal health market throughout the globe and discusses a variety of topics, such as the market size of the worldwide animal health sector. In addition, the study categorizes the animal health market according to goods (pharmaceuticals, vaccinations, and animal feed additives), species (farm animals and companion animals), and region (Asia-Pacific, Europe, North America, Latin America, and the Rest of the World). In addition to this, the study includes a breakdown of each key player’s market share within the worldwide animal health market. In addition to this, a revenue forecast for the global animal health market for the next five years is given, along with an analysis of the future situation for the industry. The total value of the worldwide animal health market was USD billion in 2008, and it is expected to reach USD billion in 2013. This represents a compound annual growth rate of 3.34 percent. Prospects in all areas of animal health care goods, including medicines, vaccinations, and medical feed additives, have played a role in the expansion of this business, which has been impacted by these opportunities. This business was propelled forward by a number of factors, chief among them an expanding human population and an accompanying rise in the amount of disposable cash enjoyed by individuals. In addition, factors such as the growing awareness for pet health globally have led to higher expenditures on veterinary care due to rising family incomes. This rise in spending may be attributed to both of these causes. The worldwide market for animal feed additives saw an annual growth rate of 3.11 percent, bringing the total market value from billions of dollars in 2008 to billions of dollars in 2013. Animals that are raised for their ability to produce food, such as cattle and poultry, may benefit from the addition of feed additives, which are often utilized on farms. Similarly to how there has been a rise in the need for animal protein, there has also been a rise in the demand for feed additives from farm owners, which has been a driving force behind the expansion of this market sector. 12 percent of the total worldwide market for animal health was contributed by animal feed additives in 2013. This figure refers to the year 2013. Since a great number of years ago, North America has been in the driver’s seat of the worldwide market for animal health products. In 2008, it had a market share of %, and by 2013, that percentage had progressively increased to %. In 2008, Europe was responsible for % of all revenues generated by the global animal health business, but in 2013, that figure had dropped to %. In 2013, the global market for animal health care was estimated to be worth USD billion, with farm animal health contributing USD billion toward that total. The increasing reliance on farm animals for agriculture and on livestock products such as milk, meat, eggs, and others has contributed to the rise in revenue generated by farm animal related healthcare products, which has increased from one billion dollars in 2008 to one billion dollars in 2013. This represents a compound annual growth rate of 3.46 percent. In 2013, zoetis was the most successful company, with revenues of usd million and a market share of percent. The company has contributed to the provision of safety against the most common and costly reproductive and respiratory diseases in the companion animal health market by introducing ground-breaking products such as revolution and apoquel. These medicines are found in the companion animal health market. In 2013, merck was the second biggest animal health firm in the world, with annual sales of million United States dollars and a market share of percent. Because of the rising demand for meat and other forms of animal protein across the globe, it is anticipated that the future of the global animal business will be bright. The revenue of the worldwide animal health market is expected to reach million US dollars in 2018, up from million US dollars in 2013. The global animal health sector is anticipated to expand at a compound annual growth rate of 10.24 percent between the years 2013 and 2018. source: the international market for animal healthcare ankur gupta, head of marketing and communications at ken research, may be reached at query@kenresearch.com or by calling +91-1147017199.

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