(PharmaNewsWire.Com, August 07, 2019 ) The global APAC Animal Health market report analyzes and studies the major market drivers, restraints, challenges, and opportunities in China, Japan, India, and the Rest of Asia-Pacific.
Factors such as the rapid rise in livestock population, increasing awareness about animal health, growing demand for animal-derived food products, and rising frequency of animal disease outbreaks are the major factors driving the growth of the Asia-Pacific Animal Health market.
Based on product, the market is segmented into growth promoters, feed additives, parasiticides, vaccines, antimicrobials and antibiotics, and other pharmaceuticals. The growth promoters segment accounted for the largest share of the market owing to its wide utilization by livestock producers and pet owners.
Based on type of animal, the market is segmented into food-producing animals and companion animals. The food-producing animals segment held the largest share of the Asia-Pacific Animal Health market, while the companion animals segment is expected to witness the highest growth during the forecast period.
China is the largest regional segment for the APAC animal health market and is expected to witness the highest growth rate during the forecast period. The large share of this regional segment is driven by the increasing livestock population, rising demand for animal-derived food products in China, increasing pet ownership, and growing adoption of pet insurance.
Key players operating in this market include Zoetis, Inc. (U.S.), Sanofi (France), Merck and Co., Inc. (U.S.), Eli Lilly and Company (U.S.), and Boehringer Ingelheim GmbH (Germany).
Other players include Bayer AG (Germany), Ceva Santé Animale (France), Virbac (France), Perrigo Company Plc. (U.S.), Vetoquinol S.A. (France), Cargill, Inc. (U.S.), Royal DSM N.V. (Netherlands), and Evonik Industries AG (Germany).
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