Market leaders are increasing their investments in R&D for the development of new animal food and health products. Zoetis is focusing on R&D to broaden its product and vaccine ranges for other new species of animals worldwide. Their current R&D facilities are close to manufacturing sites so as to reduce transportation costs and increase production efficiency. Iowa State University and Zoetis signed a collaborative agreement to develop a vaccine for the porcine epidemic diarrhea virus in the US. These R&D activities help in increasing the products and services in the market, thereby increasing the market size. For instance, Zoetis had about 180 product approvals in 2014, demonstrating a high level of R&D productivity in the market.
According to the report, currently, in developing countries, the consumption of food shifted from staples to dairy and meat products because of the rise in disposable income. The increase in livestock leads to the demand for related preventive and curative services. These factors will drive the demand for animal healthcare products. The global animal health market is expected to grow at a CAGR of 3.96% over the period 2014-2019.
The report states that patent expiries of approved animal products adversely impact market growth and result in the loss of an exclusive market, leading to rapidly declining sales.
Key topics covered:
- Executive summary
- Market landscape
- Market segmentation by animal type
- Market segmentation by products
- Geographical segmentation
- Market drivers
- Impact of Drivers
- Market challenges
- Impact of drivers and challenges
- Market trends
- Vendor landscape
- Other prominent vendors
- Key vendor analysis