Global Information Inc. would like to present a new market research report, "Global Markets for Animal Therapeutics and Diagnostics" by BCC Research.
The animal health industry is responsible for maintaining the health and productivity of the more than 3.3 billion livestock and 16 billion poultry worldwide, and ensuring the wholesomeness and abundance of the food they produce. In addition, the industry must also cater to the health and well-being of companion animals. Despite this, the human healthcare market is 35 times larger than the combined market for all nonhuman species. The reality is that the global animal health market is complex, operating under stringent and increasingly strict regulations similar to those for human health, yet the market opportunities are considerably smaller.
Although the animal health market is supplied by more than 350 manufacturers and marketers, there are only about 10 companies that produce sales of $1 billion or more. These companies include: Pfizer, Merck Animal Health, Merial (a division of Sanofi), DSM, Elanco (a division of Eli Lilly & Co), Bayer, Boehringer Ingelheim, BASF, Evonik, and Novartis.
Animal therapeutics and diagnostics was worth nearly $30.1 billion in 2011. BCC Research anticipates that this market should reach nearly $42.6 billion in 2016, a compound annual growth rate (CAGR) of 7.2% over the five-year period.
The animal therapeutics and diagnostics market can be broken down into four segments: pharmaceutical products, feed additives, biological products, and diagnostics. Key findings for these four segments included:
- Pharmaceutical products accounted for $14.3 billion in 2011 and should reach nearly $20.6 billion in 2016, a CAGR of 7.5%.
- Feed additives totaled $8.3 billion in 2011 and should increase at a CAGR of 5% to reach $10.6 billion in 2016.
- Biological products, worth nearly $5.5 billion in 2011, should reach nearly $8.8 billion in 2016, increasing at a CAGR of 9.8%.
- Diagnostics were worth $1.9 billion in 2011 and in 2016 should total $2.6 billion, a CAGR of 6.2%.
The information within this report is directed at the business and industry professional and is specifically designed to aid in the explanation, direction and future of animal health markets. The report focuses on providing the reader with an understanding of trends in the industry, market segments, market forecasts, leading players, and market drivers and inhibitors.