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Zoetis, MSD Animal Health, Elanco, Merial, Bayer AG lead Market Share of Key Players in Global Animal Health Market by Revenue : Ken Research

Thursday, November 3, 2016 0:31
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(Before It's News)

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:

https://www.kenresearch.com/agriculture-and-animal-care/animal-care/global-animal-health-report-2020/54216-104.html

 

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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