The APAC animal health market is projected to reach a value of USD 22.1 billion by 2025 from USD 15.6 billion in 2020, at a CAGR of 7.2% during the forecast period. Factors such as the rapid rise in livestock population, increasing awareness about animal health, and rising frequency of animal disease outbreaks are expected to drive the growth of the APAC animal health market. However, restrictions on the use of parasiticides in food-producing animals, shift toward vegetarian diets, and rising cost of storage of animal vaccines are expected to restrain the growth of this market.
“Increasing livestock population to drive the growth of feed additives”
Based on product, the APAC animal health market is segmented into parasiticides, antimicrobials and antibiotics, vaccines, feed additives/nutritional products, growth promoters, and other pharmaceuticals. In 2019, feed additives accounted for the largest share of the APAC animal health market. The largest share of this segment can primarily be attributed to the widespread popularity of these products among veterinarians and their increased adoption among livestock producers.
“Rising demand of animal derived food products to increase the growth of livestock animal market ”
Based on animal, the APAC animal health market is categorized into food-producing animals and companion animals. The larger share of this segment is due to the increasing livestock population and rising demand for animal-derived food products.
“Rising population of livectock animals to drive the growth of animal farms market”
Based on end-user, the market has been classified into veterinary hospitals & clinics, animal farms, and homecare. In 2019, the animal farms segment accounted for the largest market share of the APAC animal health market. This is because of the large population of livestock in emerging Asia Pacific countries, growing demand for animal-derived food products, and rising incidences of zoonotic diseases.
“China dominated the APAC animal health market in 2019”
The APAC animal health market has been segmented into five countries: Japan, China, India, Australia and Rest of Asia Pacific. In 2019, China accounted for the largest share of the market. The rising animal health awareness programmes, increasing companion animals and growing demand of animal derived food products are driving the growth of the APAC animal health market.
The break-down of primary participants is as mentioned below:
- By Company Type - Tier 1: 35%, Tier 2: 40%, and Tier 3: 26%
- By Designation - C-level: 35%, Director-level: 46%, and Others: 20%
- By Region - Japan: 27%, China: 26%, India: 29%, Australia:16%, Rest of APAC:2%
The report analyses the APAC animal health market and aims at estimating the market size and future growth potential of various market segments based on products, animal type, and end-user. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights into:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the APAC animal health market. The report analyzes this market by product type, animal type, and end-user
- Market Development: Comprehensive information on the lucrative emerging markets, by-products, animal type, and end-user
- Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the APAC animal health market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the APAC animal health market