This market research report presents a detailed segmentation of the animal health market in North America by animal type (commercial and companion) and by products (pharmaceuticals, biologicals, and medicinal feed additives). The key vendors analyzed in this report are Bayer, Elanco, Merck Animal Health, Merial, and Zoetis.
Technavio’s market research analysts estimate the animal health market in North America to grow at a CAGR of around 4% between 2015 and 2019. The increased consumption of meat and milk owing to urbanization and changing lifestyles is driving this market growth. Recent market approvals of animal healthcare products such as Rui Lan An, OvaCyst, ProstaMate, Broadline, NexGard, and SBVvax are also propelling this market’s growth.
The new market research report from Technavio provides a breakdown and analysis of the animal health segments by technology.
“Growing prevalence of infectious zoonotic diseases such as ebola, rocky mountain is one of the important factors boosting this market’s growth. Adequate treatment of diseased animals through animal pharmaceuticals, can prevent the transmission of such diseases. Moreover, regular vaccination and veterinary check-ups, and timely treatment of animals to ensure good health is important as human infection can also occur through close animal contact,” says Imran Mushtaq, Lead Analyst, Healthcare, Technavio Research.
The animal pharmaceuticals segment leads the North American animal health market, covering 62% of the total market share. This segment is expected to reach around USD 6 billion by the end of 2019, thanks to the rise in pet humanization, the growing awareness about animal health, and the increased focus on food safety.
The leading vendors in the animal health market in North America are Bayer, Elanco, Merck Animal Health, Merial, and Zoetis. The market is characterized by the presence of diversified international and regional providers. Vendors in the market compete on the basis of quality, technology, and pricing. The research report predicts the competitive environment in this market to intensify further with the increase in product/service extensions, technological innovations, and mergers.
A more detailed analysis is available in the Technavio report, Animal Health Market in North America 2015 – 2019.
We can customize reports by other regions and specific segments upon request.
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