Animal Healthcare Market Analysis, Trends, Production, Revenue, Gross Margin
Posted by ankush Nikam on January 25th, 2021
Future Market Insights presents a revised forecast of the global animal healthcare market for a 10 year period 2017 – 2027. According to this report titled “Animal Healthcare Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017–2027,” the Animal Healthcare market is anticipated to expand at a CAGR of 4.3% during the forecast period in terms of value. Growing pet humanisation trend and focus on preventive healthcare are expected to drive demand for animal healthcare products such as feed additives, pharmaceuticals, and vaccines.
This report has broadly segmented the Animal Healthcare market on the basis of product type, animal type and region. Based on product type, the global Animal Healthcare market has been segmented into Feed Additives, Pharmaceuticals and Vaccines.
Feed Additives is the Most Lucrative Segment
Feed Additives segment is estimated to dominate the animal healthcare market by product type with 45% value share of the market by 2017 end. Feed additive segment is expected to reach US$ 25,386.9 Mn by 2027 end and will also grow with the fastest CAGR of 4.6% over the forecast period.
Production Animals Segment Accounts for Higher Demand
Among the animal type segments, the Production Animal segment is expected to dominate the animal healthcare market with 61.8% value share in 2017. Production Animal segment is expected to reach a market value of US$ 35,041.9 Mn by 2027 end and will grow at a CAGR of 4.7% over the forecast period.
Market Segmentation by Product Type
Based on product type, the global Animal Healthcare market has been segmented into Feed Additives, Pharmaceuticals and Vaccines. Feed Additive segment is estimated to account for 45% value share of the market by 2017 end. Pharmaceutical segment is expected to reach US$ 20,767.8 Mn by 2027 end and projected to grow at a CAGR of 4.2%. Vaccines segments is expected to be the least attractive segment by product type in the animal healthcare market over the forecast period.
Market Segmentation by Animal Type
Based on animal type, the global Animal Healthcare market has been segmented into Production Animals and Companion Animals. Among the animal types, Production Animals segment is projected to grow at the fastest CAGR over the forecast period to reach a value of US$ 35,041.9 Mn by 2027 end. Companion Animals segment is expected to gain a market value of US$ 13,725.0 Mn in 2017 and is projected to grow at a CAGR of 3.6% over the forecast period.
North America will continue to grow at an Exponential Rate
FMI has analysed the Animal Healthcare market in seven major regions: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). North America will dominate the market value share for Animal Healthcare and is expected to reach US$ 18,186.4 Mn by 2027 end. The Western Europe market is expected to be the second largest market followed by APEJ. North America and Europe collectively constitute more than 60% of market share over the forecast period. Japan is anticipated to be least attractive region for animal healthcare market owing to less adoption of pets.
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Key Insights on the Animal Healthcare Market
Animal Healthcare Market: Key Players
Key competitors covered in the Animal Healthcare market report are Bayer AG, Boehringer Ingelheim GmbH, Ceva Santé Animale, Eli Lilly and Company, SeQuent Scientific Ltd., Koninklijke DSM N.V., Sanofi Winthrop Industrie, Cargill, Inc., Merck & Co., Inc., Virbac S.A., Zoetis Inc. Major animal feed additive manufacturers include Cargill Inc. (Provimi), Koninklijke DSM N.V., ADM Alliance Nutrition, and Evonik Industries AG.
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About the Authorankush Nikam
Joined: December 21st, 2016
Articles Posted: 4,518
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