The animal health market is growing, albeit at a slower rate, in the recessionary economic phase. Two factors are working in favor of the industry – pet owners’ love for their companion animals and the economic reasons for the treatment of livestock or farm animals.
The -livestock- segment, a high-volume market that represents around 57% of the international animal health market is guided mostly by economic concerns as the market has to meet the growing demand in protein requirements in developing countries. Increase in demand for protein inevitably leads to increase in demand for food-producing animals.
Emerging markets such as Eastern Europe, Latin America and Asia are witnessing an increase in share of the total pie of the animal health industry because of the increasing importance given to animal health by the livestock breeders. As these regions are showing very strong economic growth in the past few years, livestock breeders are giving due importance to the better management of livestock to cater to the growing nutritional needs of populations. But with various kinds of diseases reducing global animal production, animal healthcare is gaining significant importance. Emerging economies thus offer significant potential for animal health industry in the near future
The mature markets of North America and Western Europe, however, are supporting the growth of animal health market as these regions are characterized by strong growth, particularly in the -companion animals- sector.
The animal health market is highly concentrated, with the top nine players controlling more than 80% of the total market. Recent acquisitions of Fort Dodge (Wyeth) by Pfizer and Intervet by Schering-Plough have further consolidated the market.
The report titled -Global Animal Health Market: Emerging Markets Driving Growth- analyzes the two segments of animal health industry – companion animals and livestock or farm animals. The study explores the matured markets of UK and the UK and also the emerging markets of China, India and Brazil. The factors that are likely to drive the overall animal health market have been analyzed. Also, the performance of four major players – Pfizer, Schering-Plough, Merial and Bayer in the animal health industry has been assessed.
Further, we have predicted the future growth of the animal health market by combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings. We employed various significant variables that have an impact on this industry and created regression models with SPSS to determine the future direction of the industry.
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