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Worldwide Veterinary Healthcare Markets to 2024: Advanced Technology Leading to Innovations in Animal Healthcare – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Worldwide
Veterinary Healthcare Markets to 2024: Advanced Technology Leading to
Innovations in Animal Healthcare”
report has been added to ResearchAndMarkets.com’s
offering.

Recent years have observed major mergers and acquisitions between
veterinary-related divisions of major companies, along with the
increasing demand for food and feed and the production of animals bred
for meat and milk products. A large population investing in pet
insurance, across the developed markets, is driving growth in the market
being studied.

At present, the veterinary healthcare market is receiving a major
improvement from initiatives led by governments and animal welfare
associations of several countries, globally. For instance, in the United
Kingdom, the Cattle Health and Welfare Group (CHAWG) addresses relevant
cattle health and welfare issues.

In the United States, there are associations, such as Winter Haven,
where the veterinary healthcare associates support the human-animal bond
and provide high-quality services for any situation. Similarly, the 2020
Healthy Pets Healthy Families Initiative (HPHF) was launched by the
Veterinary Public Health Program (VPH) at the Los Angeles County
Department of Public Health to improve both animal and human health.

In the emerging market of India, the government, in collaboration with
MSD Animal Health, has started an initiative to control foot-and-mouth
disease (FMD) for monitoring the health of livestock animals. Moreover,
in 2017, Tata Trusts, in partnership with People for Animals, initiated
the development of multi-specialty veterinary hospitals and emergency
clinics to serve the needs of all domestic and farm animals. Thus, the
major awareness programs and support from several organizations for
veterinary healthcare are driving the market toward growth.

The Significant Growth in the Demand for Vaccines may Boost
the Growth of the Veterinary Healthcare Market Over the Forecast Period

In the developed markets, companion animals play an inevitable role in
families, where they are essentially considered as family members than
pets. In emerging markets, livestock animals are given high importance.
Across different geographies, the importance of vaccine has risen
significantly. The trend of a large number of families opting for pet
insurance was observed across major consumer spending stores, globally.
Apart from livestock, sheltered/housed animals represent a significant
share of the animal population, who are at the great risk of exposure to
vaccine-preventable infectious diseases. Vaccines for pets provide
immunity against diseases, providing a protective barrier for humans
from contacting diseases from their animals who are more likely to come
into contact with wildlife.

In several cases of food-producing animals, the industry and governments
work closely to develop vaccines against the major outbreak of diseases
in animals, such as foot-and-mouth disease. Some of the major challenges
to the market include the unavailability of vaccines against several
livestock vector-borne pathogens and strict regulatory approval
processes for gaining market authorization. Funding for vaccine banks
has become important over time. Over the forecast period, the necessity
of vaccines and their development are expected to boost the growth of
the veterinary healthcare market.

North America is Expected to Hold the Largest Share in the
Market, Over the Forecast Period

Veterinary healthcare is an integral part of the US economy. It is among
the most innovative industries in the United States, where it represents
2% of the total US pharmaceutical market. Mexico and Canada are among
the largest export markets for meat and dairy products for the United
States, each year. Apart from the economic benefits, the social benefits
of the animals are far-reaching and highly recognized by several
communities. As per the American Pet Products Association, the overall
spending in the US pet market increased by 4.1% between 2016 and 2017,
from USD 66.75 billion to USD 69.51 billion. Thus, with several factors
aiding to develop a better environment, the North American region plays
a vital role in the growth of veterinary healthcare.

Competitive Landscape

Veterinary healthcare has rapidly evolved over the last few years, where
technology concerning biotech, genomics, artificial intelligence, cloud
computing, and big data has grown massively, bringing competition among
large animal health companies and collaborations with technologically
advanced start-ups. Also, the industry observed significant mergers and
acquisitions in recent years, such as between Boehringer Ingelheim
Animal Health and Merial. Thus, the veterinary healthcare market has
become a very competitive industry.

Key Topics Covered

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Advanced Technology Leading to Innovations in Animal Healthcare

4.3.2 Increasing Initiatives by the Governments and Animal Welfare
Associations of Different Countries

4.3.3 Increasing Productivity at the Risk of Emerging Zoonosis

4.4 Market Restraints

4.4.1 Lack of Infrastructure and Funding in LMIC

4.4.2 Use of Counterfeit Medicines

4.4.3 Increasing Cost of Animal Testing and Veterinary Services

4.5 Porter’s Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Product

5.1.1 By Therapeutics

5.1.1.1 Vaccines

5.1.1.2 Parasiticides

5.1.1.3 Anti-infectives

5.1.1.4 Medical Feed Additives

5.1.1.5 Other Therapeutics

5.1.2 By Diagnostics

5.1.2.1 Immunodiagnostic Tests

5.1.2.2 Molecular Diagnostics

5.1.2.3 Diagnostic Imaging

5.1.2.4 Clinical Chemistry

5.1.2.5 Other Diagnostics

5.2 By Animal Type

5.2.1 Dogs and Cats

5.2.2 Horses

5.2.3 Ruminants

5.2.4 Swine

5.2.5 Poultry

5.2.6 Other Animals

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Middle East & Africa

5.3.5 South America

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Bayer Healthcare

6.1.2 Boehringer Ingelheim International GmbH

6.1.3 Ceva Animal Health Inc.

6.1.4 Elanco

6.1.5 IDEXX Laboratories

6.1.6 Merck & Co. Inc.

6.1.7 Phibro Animal Health

6.1.8 Vetoquinol

6.1.9 Virbac

6.1.10 Zoetis Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/lb6org

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Related
Topics: Animal
Healthcare/Veterinary

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