This report aims to provide detailed insights into the global APAC ANIMAL HEALTH MARKET. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth: 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 the rising cost of storage of animal vaccines are expected to restrain the growth of this market.
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The vaccines will have the highest growth rate, by product type, during the forecast period
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. Vaccines is expected to have the highest growth rate during the forecast period due to growing prevalence of animal-related diseases in Asian countries.
The food-producing animals had the largest share, by animal, in 2019.
Based on animal, the APAC animal health market is categorized into food-producing animals and companion animals. In 2019, food-producing animals accounted for large share of the APAC animal health market. The larger share of this segment is due to the increasing livestock population and rising demand for animal-derived food products.
Animal Farms are the largest end-user segment of the APAC animal health 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 market to witness the highest growth during the forecast period
The APAC animal health market is divided into five countries—China, Japan, India, Australia, and RoAPAC These are analyzed further at the country levels. The Asia Pacific market is driven primarily by the increasing disposable income, growing awareness about animal health, rising demand of animal derived food products, and growing adoption of companion animals.
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Key Market Players
The market is dominated by a few globally established players such as Zoetis (US), Boehringer Ingelheim (Germany), Elanco (US), Merck & Co. (US), and Dechra (UK).
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