Animal health market mainly comprises of medicines, medicinal feed additives and vaccines and caters to both food producing and companion animals. Food producing animals are species for the production of animal protein that include cattle (both beef and dairy), swine, poultry, sheep and fish whereas companion animals include dogs, cats and horses. Animal pharmaceuticals account for more than half of the animal health products market followed by biologicals and medicinal feed additives.
Economic development and related increases in disposable income, particularly in many emerging markets; increasing pet ownership; increasing demand for improved nutrition, particularly animal protein; increased focus on food safety and need for greater livestock production efficiency are major factors driving the animal health market. North America is the largest animal health market followed by Europe, Asia and Latin America. The animal health care industry in Europe is majorly dominated by France, Germany, Spain and the UK. Within Asia, countries like Japan, Australia, New Zealand, Singapore and South Korea are developed markets and are characterized by extremely strict regulations.
Demand for animal health products is more in emerging markets like India, China, Indonesia, Thailand, Malaysia and Taiwan. Animal health products are subject to extensive and increasingly stringent regulations. The animal health sector is highly competitive with top 10 players accounting for around 80% of the total market in 2011. Major market players include Pfizer, Merck, Merial, Elanco and Bayer. The report analyzes the global animal health market, with focus on its major segments. It also analyzes some of the major regional markets, including the US, the UK, China and India. The report discusses the major drivers and issues being experienced by the animal health market worldwide. It profiles the top three players in the global animal health market, along with their business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.