Animal Healthcare Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2019,” the global animal healthcare market was valued at USD 27,861.2 million in 2013 and is expected to grow at a CAGR of 7.1% from 2014 to 2019, to reach an estimated value of USD 41,929.1 million in 2019.
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The global animal healthcare market is growing due to the increasing animal population of both types: companion and production. Companion animals are those which people tame or adopt for companionship, house/office guards and production animals are raised for meat and milk-related products.
The new diseases in animals and their transfer to humans via their product consumption and companionship are also propelling the animal healthcare market globally. However, some challenges have emerged in the form of regulations against the excess use of antibiotics in production animals, and legislations and protest of animal activists and institutions against animal research.
The animal healthcare market is very competitive with the top ten players accounting for about 75% of the market and every company focusing on research and development to produce better pharmaceutical and vaccine products for the existing diseases.
The animal healthcare market is categorized under three broad segments, namely feed additives, pharmaceuticals and vaccines. Feed additives can be categorized as nutritional feed additives and medicinal feed additives. Nutritional feed additives comprise amino acids, minerals and vitamins and are used for production animals for their optimal growth. Medicinal feed additives comprise hormones, enzymes, immune-modulators, probiotics and prebiotics and feed acidifiers which target specific diseases in production and companion animals. Pharmaceutical products mainly include endoparasiticides, ectoparasiticides, endectocides, antibiotics, anti-inflammatories and medicines for reproductive problems. Vaccines make animals disease-immune for a particular disease.
In biological terms, vaccination against a particular pathogen aims to mimic the development of naturally acquired immunity by inoculation of non-pathogenic but immunogenic components of that pathogen.