(PharmaNewsWire.Com, March 31, 2020 ) The report “Asia-Pacific Animal Health Market by Product (Parasiticides (Endoparasiticides, Ectoparasiticides), Antimicrobial & Antibiotic, Vaccines, Feed Additive (Vitamin, Amino Acids, Antioxidant), Growth Promoter), Animal (Livestock, Companion) – Forecast to 2021″,The APAC animal health market has witnessed significant growth during the last decade and is expected to grow at a CAGR of 5.7% during the forecast period to reach USD 20.25 Billion by 2021.
“Growth promoters accounted for the largest share of the market in 2015”
Based on product, the market is segmented into growth promoters, feed additives, vaccines, parasiticides, antimicrobials and antibiotics, and other pharmaceuticals. Growth promoters accounted for the largest share of the market in 2015 owing to its wide utilization by livestock producers and pet owners.
“The Asia pacific animal Health market is segmented into food-producing animals and companion animals.”
Based on the type of animal, the market is segmented into food-producing animals and companion animals. The food-producing animals segment accounted for the largest share of the market, while companion animals are expected to register the highest growth during the forecast period.
Zoetis, Inc. (U.S.), Sanofi (France), Merck and Co., Inc. (U.S.), Eli Lilly and Company (U.S.), China Animal Husbandry Industry Co., Ltd. (China), Jinyu Bio-technology Co., Ltd. (China), Qingdao Yebio Bioengineering Co., Ltd. (China), Tianjin Rringpu bio-technology Co., Ltd. (China), Kyoto Biken Laboratories, Inc. (Japan), Bio-Med Private Limited (India), and Indian Immunologicals Ltd. (India)
Merck and Co., Inc. (U.S.) is another significant player in the APAC animal health market. The company has its presence in more than 140 countries with 25 manufacturing sites located in the U.S., Mexico, Brazil, the U.K., France, Germany, Spain, the Netherlands, Germany, Italy, Austria, India, Australia, and New Zealand. The company invested USD 6,704 million, USD 7,180 Million, and USD 7,503 Million on research and development activities in 2015, 2014, and 2013, respectively, to launch new, innovative, and therapeutically effective products.
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