Asia-Pacific Animal Health Market Set to Register 5.7% CAGR During 2016-2021
The APAC animal health market is estimated to grow at a CAGR of 5.7% during the forecast period, to reach USD 20.25 billion by 2021 from USD 15.32 billion in 2016. Growth in this market can primarily be attributed to the rapid rise in livestock population, increasing awareness about animal health, rising demand for animal-derived food products, and rising frequency of animal disease outbreaks. However, restrictions on the use of parasiticides in food-producing animals, the shift towards vegetarian diets, and rising vaccine storage costs are restraining the growth of this market to a certain extent.
In this report, the APAC animal health market is segmented on the basis of product, type of animal, and region. On the basis of product, the market is segmented into growth promoters, feed additives, parasiticides, vaccines, antimicrobials and antibiotics, and other pharmaceuticals. The parasiticides segment is further categorized into ectoparasiticides, endoparasiticides, and endectocides. The ectoparasiticides segment accounted for the largest share of the APAC animal parasiticides market. This product segment is expected to grow at the highest CAGR during the forecast period. Based on the type of animal, the market is segmented into food-producing animals and companion animals.
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Geographically, the APAC animal health market segmented into China, Japan, India, and the Rest of APAC. In 2015, China accounted for the largest share of the APAC animal health market. This regional segment is expected to register the highest growth rate followed by India. This growth can be attributed to the large livestock population in these countries, increased frequency of the occurrence of animal diseases, rising demand for animal-derived food products, and growing awareness about animal health and welfare.
Some of the prominent players in the APAC animal health market include Zoetis, Inc. (U.S.), Sanofi (France), Eli Lilly and Company (U.S.), Merck and Co., Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim GmbH (Germany), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), and Cargill, Inc. (U.S.)
Related Report:
Global Animal Growth Promoter Market Analysis 2012-2017 and Forecast 2018-2023
Animal Growth Promoters are feed additives that used to help increase the efficiency of animal production by increasing weight gain and product output.?Animal Growth promoters can be classified into four groups; those that increase growth and also increase feed consumption, those that increase growth without altering feed consumption, those that do not alter growth but decrease feed consumption (generally referred to as the feed consumption ratio; FCR=kg feed consumed/kg body weight), and those that increase growth and decrease feed consumption.
The global Animal Growth Promoter market will reach xxx Million USD in 2017 and CAGR xx% 2011-2017. The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Animal Growth Promoter by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Read More: https://watchersofmarkets.com/products/global-animal-growth-promoter-market-analysis-2012-2017-and-forecast-2018-2023
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