The increase in humans adopting pets and prevalence of various infections and diseases among domestic animals has lead to innovations in managing animal health. The adoption rate alone in the U.S. has increased and nearly 3.2 million animals from shelters are adopted yearly. The companies in animal healthcare are also increasing their research and providing effective solutions for prevailing as well as new diseases and infections in animals.
What is animal healthcare?
Animal healthcare is taking care of animals especially pets adopted from shelters and providing aid to diseases and infections which they suffer from. Other than pet owners, many farmers are also finding and adopting ways to keep their farm animals healthy in order to meet their own desired results.
Adoption of a variety of animals especially various breeds of dogs and cats is now becoming a trend globally. The increase in disposable income has also resulted in people adopting more pets and spending on their healthcare.
Types of Animal Healthcare Industries
The various types of animal healthcare industries are as follows:
- Animal healthcare pharmaceuticals market: It includes animal anti-parasiticide and anti-infective drugs. This helps in making animals disease free. The demand for pet drugs is increasing as more pet owners are willing to subject their pets to medicines.
- Animal healthcare vaccines market: In the past two decades, vaccines have gained a lot of popularity. This animal healthcare industry focuses on preventing diseases than its cure. Also, trading of animal for meats has also increased this industry globally.
- Animal healthcare medicated feed additives industry: With an increase in demand for disease-free animals, the use of medicated feeds has seen growth. But due to the ban on antibodies used in animal feed in the U.S. and Europe, antibiotics feed market is decreasing.
Animal Healthcare Market based on animal type and region
- By animal type: The increased consumption of meat has lead to growth in the farm animal market. Various healthcare products such as drugs, vaccines, and medicated feed additives have seen an increased rate of usage. Also, people are adopting more animals for companionship, so the pet animal healthcare market is also growing. They are also paying large amounts on animal healthcare with an increase in disposable incomes.
- By region: Research and development are significant factors for the growth of the animal healthcare market in Europe. The prime factor in the growth of the animal healthcare market is the extensive animal husbandry. Across China also the demand for animal healthcare is rising with the upliftment of pet-owning ban.
Size of Animal Healthcare Industry
The size of the animal health care market is increasing rapidly with continuous demand for pets and their healthcare products. The growth of animal products is rising and constitutes about 60 % of the total market shares. The least attractive market for animal healthcare is Japan due to the low rate of adoption of domestic pets.
Reasons for the increase in growth of Animal Healthcare Industry
The amazing growth being witnessed in the animal healthcare industry can be attributed to various reasons. There is an increase in demand for natural products which in turn increases the animal healthcare industry. Also, there has been an increase in the demand for companion animals and China has also uplifted the ban on pet animals and more people are adopting animals there.
There is also an increase in demand for commercial animals in China. The middle-class population in China is now going after a more protein-rich diet including meat, eggs, and milk. This has increased the need for proper animal husbandry and the need to provide for animal healthcare. The growth in the number of foodborne and zoonotic diseases has also fuelled the animal healthcare market to prevent infections from spreading. Many countries have made it compulsory to use animal vaccinations, which in turn has led to the growth of animal healthcare. Increase in disposable income and favorable initiatives by many countries has led to an increase in the adoption rate of pet animals.
Sometimes in order to meet the demand for animal products, some problematic farming practices take place including cramming of animals in smaller spaces. This leads to the spreading of highly contagious diseases and thus increases the need to use animal healthcare by farmers. Farmers also are highly reliant on feed additives and vaccinations to increase their margins. This, in turn, leads to growth in the animal healthcare market.
Constraints for the growth of the animal healthcare market
Animal healthcare market faces certain constraints that can impede its growth. The major reason is the fact that many countries have banned the excess use of antibiotics in animal healthcare. This has significantly affected the growth prospects of the animal healthcare market. The protests by animal activists against the research being done on animals has also gathered steam and is posing a challenge to the growth of the animal healthcare market. Another challenge facing the animal healthcare market is the decline of veterinarian population all over, leading to lower demand for animal healthcare products and services.