(PharmaNewsWire.Com, July 07, 2017 ) The Asia-Pacific Veterinary Healthcare Market is valued at $5.13 billion market as of 2016 and is estimated to be a $9.29 billion market by 2021 with a tremendous CAGR of 12.6% in the review period. Veterinary medicines helps in diagnosing, treating and preventing diseases in animals. Veterinary medicine covers a wide range of animal species which includes both domestic and wild. With the increased production of livestock animals, there is a significant growth in the animal healthcare market. Stable economy and rising population, especially in the developing countries has resulted in increased demand for protein rich foods.
Growing awareness about animal’s health, fewer hurdles for the approval of drugs relating to animal health and increasing love towards pets are the primarily contributing factors for the growth of veterinary healthcare. Rising number of foodborne diseases has also helped the growth of the market. However, factors like increasing regulation on antibodies, rising costs of animal testing are restraining the growth of the market.
Asia-Pacific veterinary vaccines market is categorised based on the animal type as farm and companion animal. Farm animals includes sheep, cattle, fish, swine and poultry. Whereas, companion animals include cats and dogs. On the basis of product, the market is segmented as pharmaceuticals, feed additives and vaccines. Feed additives are sub-categorised as medicine and nutrition feed additives.
Nutrition feed additives as vitamins, minerals and amino acids. Medical feed additives immune-modulators, probiotics, enzymes, hormones and prebiotics. Pharmaceutical products mainly includes antibiotics, medicines for reproductive problems, endoparasiticides, ectoparasiticides, anti-inflammatories and endectocides. Based on geography, asia-pacific veterinary healthcare market is studied in various regions of China, India, Japan, South Korea and Australia.
The key players in the market are BoehringerIngelheim GmbH, Sanofi S.A., Merck & Co., Novasep, Ceva Santé Animale, Koninklijke DSM N.V, SeQuent Scientific Ltd., Zoetis Inc., Nutreco N.V., Vétoquinol S.A., Bayer AG, Cargill, Inc., Eli Lilly, Novartis AG and Virbac S.A.
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