Market Definition:
The Global Animal Therapeutics and Diagnostics Market size was valued at USD 30.79 billion in 2019 and is predicted to reach USD 49.44 billion by 2030 with a CAGR of 4.4% from 2020-2030. Animal Therapeutics and Diagnostics include various number of treatments and instruments for the animals. Animal diagnostics consists of variety of consumables to diagnose the ailment, which is very essential considering public dependency on animals. The diagnostic instruments include, small animal imaging devices such as single-photon emission computed tomography, positron emission tomography, magnetic resonance imaging and computed tomography. Animal therapeutics aid in the treatment of the ailments through the use of drugs, which cure the disease based on their mode of action. Animal therapeutic products include drugs such as tranquilizers, sedatives, painkillers, and antibiotics.
Market Dynamics and Trends:
The increasing veterinary experts in developed regions and growing expenditure on animal health and pet insurance is augmenting the market growth. Also, factors including increasing demand for animal-derived food products, rising demand for pet insurance, and growing concern to prevent zoonotic diseases has majorly driven the animal therapeutics and diagnostics market. Moreover, increasing ownership of companion animals and easy accessibility of animal treatment has led to a rise in the demand for animal therapeutics and diagnostics solutions. However, highly competitive meat and milk prices and lack of awareness regarding animal healthcare are hampering the growth of the animal therapeutics and diagnostics market. On the other hand, advancement in therapeutic and diagnostic products will create new opportunities for market players in the near future.
Market Segmentations and Scope of the Study:
The animal therapeutics and diagnostics market are segmented on the basis of product type, animal type, and geography. On the basis of product type, the market is segmented into animal diagnostics products and animal therapeutics products. The animal diagnostics products segment is further divided into instruments and consumables. The animal therapeutics products segment is further divided into Anti-Parasitic drugs and antibiotics, anti-inflammatory drugs, anesthetics, and other drugs. On the basis of animal type, the market is classified into companion animals, poultry, cattle, pigs, and sheep. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America is expected to dominate the global animal therapeutics and diagnostics market followed by Europe. This is attributed to factors such as growing rate of pet adoption, emergence of various zoonotic diseases, and increasing number of veterinarians specially in countries like US and Canada. Also, Asia-Pacific is expected to be the fastest growing market owing to the factors such as rising incidences of animal disorder, growing research on therapeutic drugs and diagnostic instruments and increasing livestock population in this region.
Competitive Landscape:
The animal therapeutics and diagnostics market share include a comprehensive competitive analysis and profiles of the major market players. Companies such as Boehringer, Ingelheim GmbH, Bayer AG, Eli Lilly and Company, Nutreco N.V., Virbac S.A Merck & Co., Inc., Zoetis Inc., Ceva Santé Animale, Sanofi S.A., DRE Veterinary and others are provided in the animal therapeutics and diagnostics market report.
KEY MARKET SEGMENTS:
Global Animal Therapeutics and Diagnostics Market - By Product Type
Global Animal Therapeutics and Diagnostics Market - By Animal Type
Global Animal Therapeutics and Diagnostics Market - By Geography
The Global Animal Therapeutics and Diagnostics Market size was valued at USD 30.79 billion in 2019 and is predicted to reach USD 49.44 billion by 2030 with a CAGR of 4.4% from 2020-2030. Animal Therapeutics and Diagnostics include various number of treatments and instruments for the animals. Animal diagnostics consists of variety of consumables to diagnose the ailment, which is very essential considering public dependency on animals. The diagnostic instruments include, small animal imaging devices such as single-photon emission computed tomography, positron emission tomography, magnetic resonance imaging and computed tomography. Animal therapeutics aid in the treatment of the ailments through the use of drugs, which cure the disease based on their mode of action. Animal therapeutic products include drugs such as tranquilizers, sedatives, painkillers, and antibiotics.
Market Dynamics and Trends:
The increasing veterinary experts in developed regions and growing expenditure on animal health and pet insurance is augmenting the market growth. Also, factors including increasing demand for animal-derived food products, rising demand for pet insurance, and growing concern to prevent zoonotic diseases has majorly driven the animal therapeutics and diagnostics market. Moreover, increasing ownership of companion animals and easy accessibility of animal treatment has led to a rise in the demand for animal therapeutics and diagnostics solutions. However, highly competitive meat and milk prices and lack of awareness regarding animal healthcare are hampering the growth of the animal therapeutics and diagnostics market. On the other hand, advancement in therapeutic and diagnostic products will create new opportunities for market players in the near future.
Market Segmentations and Scope of the Study:
The animal therapeutics and diagnostics market are segmented on the basis of product type, animal type, and geography. On the basis of product type, the market is segmented into animal diagnostics products and animal therapeutics products. The animal diagnostics products segment is further divided into instruments and consumables. The animal therapeutics products segment is further divided into Anti-Parasitic drugs and antibiotics, anti-inflammatory drugs, anesthetics, and other drugs. On the basis of animal type, the market is classified into companion animals, poultry, cattle, pigs, and sheep. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America is expected to dominate the global animal therapeutics and diagnostics market followed by Europe. This is attributed to factors such as growing rate of pet adoption, emergence of various zoonotic diseases, and increasing number of veterinarians specially in countries like US and Canada. Also, Asia-Pacific is expected to be the fastest growing market owing to the factors such as rising incidences of animal disorder, growing research on therapeutic drugs and diagnostic instruments and increasing livestock population in this region.
Competitive Landscape:
The animal therapeutics and diagnostics market share include a comprehensive competitive analysis and profiles of the major market players. Companies such as Boehringer, Ingelheim GmbH, Bayer AG, Eli Lilly and Company, Nutreco N.V., Virbac S.A Merck & Co., Inc., Zoetis Inc., Ceva Santé Animale, Sanofi S.A., DRE Veterinary and others are provided in the animal therapeutics and diagnostics market report.
KEY MARKET SEGMENTS:
Global Animal Therapeutics and Diagnostics Market - By Product Type
- Animal Diagnostics Products
- Instruments
- Consumables
- Animal Therapeutics Products
- Anti-Parasitic Drugs and Antibiotics
- Anti-Inflammatory Drugs
- Anesthetics
- Other Drugs
Global Animal Therapeutics and Diagnostics Market - By Animal Type
- Companion Animals
- Cattle
- Pigs
- Poultry
- Sheep
Global Animal Therapeutics and Diagnostics Market - By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Taiwan
- Rest of Asia-Pacific
- ROW
- Turkey
- Saudi Arabia
- Venezuela
- Brazil
- Remaining Countries
Table of Contents
1. Introduction
2. Market Snapshot, 2019-2030 Million USD
4. Market Dynamics
5. Global Animal Therapeutics and Diagnostics Market, by Product Type
6. Global Animal Therapeutics and Diagnostics Market, by Animal Type
7. Global Animal Therapeutics and Diagnostics Market, by Region
8. Company Profiles
Executive Summary
Animal Therapeutics and Diagnostics: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 - 2030- The increasing veterinary experts in developed regions and growing expenditure on animal health and pet insurance is driving the animal therapeutics and diagnostics market growth.Animal Therapeutics and Diagnostics include various number of treatments and instruments for the animals. Animal diagnostics consists of variety of consumables to diagnose the ailment, which is very essential considering public dependency on animals.
The increasing demand for animal-derived food products, rising demand for pet insurance, and growing concern to prevent zoonotic diseases are factors majorly boosting the growth of animal therapeutics and diagnostics market. However, highly competitive meat and milk prices and lack of awareness regarding animal healthcare are hampering the growth of the animal therapeutics and diagnostics market.
The animal therapeutics and diagnostics market are segmented on the basis of product type, animal type, and geography. On the basis of product type, the market is segmented into animal diagnostics products and animal therapeutics products. The animal diagnostics products segment is further divided into instruments and consumables. The animal therapeutics products segment is further divided into Anti-Parasitic drugs and antibiotics, anti-inflammatory drugs, anesthetics, and other drugs. On the basis of animal type, the market is classified into companion animals, poultry, cattle, pigs, and sheep. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Bayer AG
- Eli Lilly and Company
- Boehringer, Ingelheim GmbH
- Merck & Co.
- Zoetis Inc.
- Ceva Sante Animale
- Sanofi S.A.
- Nutreco N.V.
- Virbac S.A.
- DRE Veterinary