Which Product Is Generating Maximum Revenue For Animal Health Market ? |
Parasiticides dominated the market with the revenue share of ~% in 2015. These products are used for controlling internal and external parasites in livestock and companion animals. The major example of their use includes preventing flea and tick infestations and internal parasites like tapeworm in companion animals. Government regulations which favor the production and use of parasiticides, rising adoption of companion animals and increasing prevalence of parasites infecting animals are the major factors which have fuelled the market of parasiticides globally,According to Ken Research analyst.
Biologicals including all antisera, viruses, toxins, serums or any products from natural or scientific origin derived from animals to improve immune system captured the second position in the market. Vaccines form an important part of veterinary biological market with segment capturing a revenue share of ~% in 2015. Affordable nature of these vaccines with less cost of vaccines compared to payment of treatment and prolonged life expectancies for both livestock and companion animals are the major factors which have generated revenue for biological segment. The mandate regulation to get dogs and cats vaccinated across the globe act as major driver.
Which Geographical Region Dominated The Global Animal Health Market?
North America dominated the market with revenue share of ~% in 2015. Economic stability among animal owners to opt for expensive healthcare products for animals and awareness among people about available treatment options are the major factors which have driven the animal market in North America. It has been observed that per capita disposable income in US has inclined from USD 35,791 in 2010 to USD 41,019 in 2015, which clearly explains that people living in the country could afford expensive healthcare options for their pets and livestock animals. Additionally, presence of pharmaceutical giants in the region who launch innovative products in market further elevates the total revenue generated by market. Europe followed North America with revenue share of ~% in 2015. Nominal approval regulations and easy availability of the products in fewer prices in the region owing to the presence of major animal health companies in the region are the major factors which have helped the market players to generate high revenue in the nation. Companies such as Merial, Bayer AG, Ceva Sante Animale, Virbac, and the Vetoquinol Group are based in Europe and have found top positions among top 10 animal health companies globally, According to Ken Research analyst.
Topics covered in The Report
Animal Parasiticides Market Japan Animal Health Market , UK Animal Health Market Global Biological Market Companion Animal Health Market Size Parasiticides Market Growth Brazil Animal Health Market Global Animal Health Market Market Strategy Animal Health China Animal Health Market Canada Animal Health Market Animal Health Industry Trends Europe Animal Health Industry Competition Animal Health
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