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Companion Animal Health Products: New Edition
Informa Healthcare, Jan 2006, Pages: 186
The companion animal sector has been the main driver of growth for the global animal health industry since the mid-1990s. This essential report analyses the size and structure of the companion animal market, profiles the companies leading this sector and assesses prospects for future growth.
Examine in detail market share across the sector with detailed information on size of business, contribution to total sales, key products and future prospects for the sector’s current market leaders.
Products for use in companion animals have been the main driver of growth in the world market for veterinary pharmaceuticals and vaccines since the mid-1990s. This report analyses the size and structure of the companion animal market, profiles the businesses of leading companies involved in the sector, and assesses prospects for growth through the remainder of this decade.
Chapter one of the study offers a brief overview of major health problems affecting the three main companion animal species (dogs, cats and horses), and identifies the products used to prevent, treat or control them. Viral, bacterial and parasitic infections are among the most prevalent challenges faced by companion animals, but chronic, age-related conditions are being diagnosed with increasing frequency in ageing dog and cat populations, with cardiovascular problems and cancer among the most significant diseases in this respect.
The products used to prevent, treat or control disease in companion animals are discussed in chapter two of the report. This section focuses on product groupings that are responsible for major shares of the market in value terms, including antiparasitics, anti-infectives, anti-inflammatories and biologicals. Established product classes and their modes of action are explained, while recent introductions to the market are discussed in more detail. Future launch activity in each major segment of the market is also addressed.
Products for use in companion animals generated global revenues of $6.8 billion in 2005 - equivalent to 39% of the entire world market for animal health products. The companion animal market is concentrated in geographical terms, with ten countries responsible together for 84% of global sales in the sector. The size, structure, recent development and future growth prospects of these ten markets are analysed in chapter three of the study.
The US is the dominant market in the companion animal health products sector, generating over half of the $6.8 billion global sales total. No other single market is responsible for more than 7% of sales in the sector. Five of the ten biggest markets are located in Europe, with the UK representing that regions leading source of companion animal product sales.
Chapter four of the report addresses common factors that will act as drivers or constraints on rates of growth in the companion animal products market during the second half of this decade. These include companion animal populations; economic, social and demographic trends; new products and technologies; promotion and marketing strategies; companion animal health and disease trends; patent expiries and generic penetration of the companion animal products market; product safety issues; regulatory factors; and companion animal health insurance.
Shaped by these factors, growth of the global market for companion animal health products is forecast at a compound annual rate of 4.9% in the period to 2010 (at actual prices, and calculated at constant rates of exchange), with sales in the sector reaching $8.6 billion in 2010. Growth in most of the worlds leading national markets will fail to match the global average, with sales in France, Italy, Spain and Australia forecast to rise at rates of less than 4% a year. Of the ten biggest markets, Brazil is expected to return highest rates of growth, with sales there rising at a CAGR of 7%. Rapid growth is also anticipated in a number of other developing countries, with China expected to feature among the worlds ten biggest markets for companion animal health products by the end of the decade.
The final section of the report analyses the structure of the companion animal products market in terms of company shares. The size of each companys companion animal business, its contribution to individual company sales totals, leading products and future developments are all discussed.
Here again, the market is relatively concentrated, with almost two-thirds of global sales by value generated by ten leading companies. Merial is the outright market leader, claiming a share of almost 17%, while Pfizer is its closest competitor with a 12% share. Bayer, Novartis and Fort Dodge complete the top five rankings.
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