Animal healthcare market

Animal Healthcare Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

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Animal healthcare has turned its focus area by the animal medicine industry because of increase in animal disease, vaccination, animal adoption and livestock. The global animal healthcare market is expected to gain major traction, on the backdrop of increasing pet adoption and high consumption of milk and meat. There is an increase in adoption of western culture and dynamic lifestyle in emerging countries such as India and China, which in turn has increased the pet adoption that is expected to favor the rise in growth for animal healthcare market. Pets are adopted by people all over the world for psychological and therapeutic benefits. An increase in new animal diseases such as white nose syndrome and anthrax has created opportunities in the animal healthcare market. Globally, Australia holds the leading position in pet ownership. According to the Australian Veterinary Association, there were around 4.2 million dogs and 3.3 million cats accounting for 39% and 29% market share respectively.

Pet adoption and increase in livestock fuels the growth of animal healthcare market According to the Animal Health Institute, in the U.S., on an average, the world spends around one fortieth amount to human medicine as compared with animal medicines every year. That investment covers animal health innovations for 24 billion chickens, 750 million swine, 500 million dogs, 400 million cats and 1 billion cattle and sheep. According to Animal Health Institute, companies yearly invest around 10-12% of their sales in innovations for animal health. Scientists have developed various medicines which result in improvement, prevention, and treatment of animal diseases such as flea and tick infestation, rabies, Lyme disease, leukemia. Animal medicines are important in food safety as it accounts for production animal as well. According to the American Society for the Prevention of Cruelty to Animals, in U.S., approximately 3.2 million shelter animals adopted each year, which includes 1.6 million dogs and 1.6 million cats. According to American Pet Product Association, in U.S. from 2015 to 2016, 34% dogs are purchased from breeders at the same time 23% of dogs and 31% of cats are obtained from the animal shelter. Globally the adoption of pets has increased over a period of time and demand for meat and milk also has increased to support the growing population which is expected to fuel the animal healthcare market in the near future.

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Key players of animal healthcare market There are various animal healthcare market players are present all over the world. Animal healthcare industry has seen some major merger and acquisitions to develop new drugs. In 2016, Sanofi and Boehringer Ingelheim merger have taken place to develop new and improved drugs for animal healthcare. Some of the key market players of animal healthcare market includes Zoetis, Eli Lilly & Co., Novartis, Bayer Healthcare, Ceva Sante Animale, Evonik Industries AG, and ADM Alliance Nutrition.g Cancer, Breast Cancer, AV node cancer as well as Brain Tumors, and Pancreatic & Kidney tumors are the major therapeutic applications, where various types of ablation can be performed and remain as potential application areas in the global ablation devices market.

Some of the major players involved in the global ablation devices market includes, Arthrex, Boston Scientific Corporation, Medtronic Plc, Intuitive Surgical, Inc., Johnson & Johnson, Inc., Halyard Health, Abbott Laboratories, EDAP TMS S.A., AtriCure, Inc., and Smith & Nephew.

A study published in the Journal of Atrial Fibrillation in 2015, states that cryoablation technique is better suited to treat atrio-ventricular nodal re-entry tachycardia (AVNRT) than radiofrequency ablation, as chances of permanent AV block are very less in cryoablation than that in radiofrequency. Doctors from Seattle Children’s suggest laser ablation for the treatment of epilepsy and brain tumors even in young children, as old as 2 years, due to the safety and precision offered by it. Thus, the demand for ablation devices is expected to witness dramatic growth in the near future, creating lucrative opportunities for the market players to grab more sales with the introduction of cost-efficient and innovative devices.

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