The global Animal Therapeutics and Diagnostics market is projected to witness considerable growth in the forthcoming years. Several factors are responsible for the growth of the market. A sudden rise in the cases of pet obesity is leading to an increasing focus on animal well-being. This factor is favorable for the growth of the global animal therapeutics and diagnostics market. Moreover, the growing demand for animal-derived food products such as meat is one of the key factors boosting the growth of the global animal therapeutics and diagnostics market.
As well, the growing incidence of chronic diseases such as bovine spongiform encephalopathy along with the growing awareness regarding other zoonotic diseases is resulting in larger uptake of animal therapeutics and diagnostics by pet and cattle owners. Additionally, the increasing number of veterinary practitioners in developed regions and the rising expenditure on animal health and pet insurance are enlarging the growth of the market. Moreover, in developing and under-developed countries, a large section of their population still depends on animal husbandry for their income. Therefore, the demand for animal therapeutics and diagnostics is projected to remain high in these countries in the coming years. Eventually, this factor further supports the development of the animal therapeutics and diagnostics market.
On the other hand, lack of awareness regarding animal healthcare, a shortage of veterinarians, and the high cost of diagnostic imaging instruments are some factors expected to hamper the growth of the market.
Covid-19 Impact on Animal Therapeutics and Diagnostics Market
In addition, the current Animal Therapeutics and Diagnostics Market study offer a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Animal Therapeutics and Diagnostics Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Animal Therapeutics and Diagnostics Market Segment Overview
Based on product, the Pharmaceuticals segment is anticipated to witness significant growth in the global animal therapeutics and diagnostics market during the forecast period. This is because of constant advancements in veterinary drugs. Pharmaceuticals mainly include anti-inflammatory drugs, parasiticides, antibiotics, and others. In addition to this, a substantial rise in companion animal ownership has also augmented the adoption of pharmaceuticals to help increase longevity. Furthermore, the Feed Additives segment has a large share in the market. Feed additives are products used in animal nutrition for purposes of improving the quality of feed and the quality of food from animal origin, or to improve the animals' performance and health.
Animal Therapeutics and Diagnostics Market, By Product
· Feed Additives
· Pharmaceuticals
· Diagnostics
Animal Therapeutics and Diagnostics Market, By Animal
· Livestock
· Companion
Animal Therapeutics and Diagnostics Market Regional Overview
In terms of geography, North American and European regions are anticipated to be major revenue contributors in the global animal therapeutics and diagnostics market. Asia Pacific region is expected to have a major share of the market in the forecast period. This is due to a rising trend of pet adoption, increasing livestock population, and rapid urbanization in this region. Additionally, other factors such as the changing food habits, and increasing per capita expenditure on animal health are further propelled the growth of the market in this region.
Animal Therapeutics and Diagnostics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Animal Therapeutics and Diagnostics Market, Key Players
· AUV Veterinary Cooperative
· Abaxis Inc.
· Bayer Animal Health
· BASF Animal Nutrition
· Boehringer Ingelheim Corp.
· DSM Nutritional Products Ltd.
· Evonik Industries Ag
· Heska Corp.
· Elanco Animal Health
· IDEXX Laboratories Inc.
· Novartis Animal Health Inc.
· Merck & Co. Inc.
· Mosaic Co.
· Novus International Inc.
· Pfizer Animal Health
· Sanofi
· Virbac SA.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Animal Therapeutics and Diagnostics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Feed Additives
- 5.2.2. Pharmaceuticals
- 5.2.3. Diagnostics
- 5.3. Market Analysis, Insights and Forecast – By Animal
- 5.3.1. Livestock
- 5.3.2. Companion
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Animal Therapeutics and Diagnostics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Feed Additives
- 6.2.2. Pharmaceuticals
- 6.2.3. Diagnostics
- 6.3. Market Analysis, Insights and Forecast – By Animal
- 6.3.1. Livestock
- 6.3.2. Companion
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Animal Therapeutics and Diagnostics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Feed Additives
- 7.2.2. Pharmaceuticals
- 7.2.3. Diagnostics
- 7.3. Market Analysis, Insights and Forecast – By Animal
- 7.3.1. Livestock
- 7.3.2. Companion
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Animal Therapeutics and Diagnostics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Feed Additives
- 8.2.2. Pharmaceuticals
- 8.2.3. Diagnostics
- 8.3. Market Analysis, Insights and Forecast – By Animal
- 8.3.1. Livestock
- 8.3.2. Companion
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Animal Therapeutics and Diagnostics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Feed Additives
- 9.2.2. Pharmaceuticals
- 9.2.3. Diagnostics
- 9.3. Market Analysis, Insights and Forecast – By Animal
- 9.3.1. Livestock
- 9.3.2. Companion
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. AUV Veterinary Cooperative
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Abaxis Inc.
- 10.6. Bayer Animal Health
- 10.7. BASF Animal Nutrition
- 10.8. Boehringer Ingelheim Corp.
- 10.9. DSM Nutritional Products Ltd.
- 10.10. Evonik Industries Ag
- 10.11. Heska Corp.
- 10.12. Elanco Animal Health
- 10.13. IDEXX Laboratories Inc.
- 10.14. Novartis Animal Health Inc.
- 10.15. Merck & Co. Inc.
- 10.16. Mosaic Co.
- 10.17. Novus International Inc.
- 10.18. Pfizer Animal Health
- 10.19. Sanofi
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
