The APAC animal health Market is projected to reach a value of USD 22.1 billion by 2025 from USD 15.6 billion in 2020, at a CAGR of 7.2% during the forecast period. Factors such as the rapid rise in livestock population, increasing awareness about animal health, and rising frequency of animal disease outbreaks are expected to drive the growth of the APAC animal health market. However, restrictions on the use of parasiticides in food-producing animals, shift toward vegetarian diets, and rising cost of storage of animal vaccines are expected to restrain the growth of this market.
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Key Market Players:
The prominent players operating in this market include Boehringer Ingelheim (Germany), Zoetis Inc. (US), Elanco Animal Health (US), Merck & Co. Inc (US), Phibro Animal Health (US), Virbac (France), Vetoquinol S.A (France), Ceva Sante Animale (France), Dechra Pharmaceuticals Plc. (UK), Kyoritsu Seiyako (Japan), Tianjin Ringpu (China), China Animal Husbandry (China), and Jinyu Bio-Technology (China). These players adopted partnerships, agreements, and acquisitions to expand their presence in APAC animal health market.
Zoetis
Zoetis provides highly diversified products for a wide range of animal species. The company’s broad geographic diversity has enabled it to deliver its animal healthcare products to more than 110 countries across the globe. To maintain its position in the animal parasiticides market, the company focuses on providing innovative products, building a strong geographical network, and enhancing its R&D to deliver measurable and beneficial results for animals. In February 2020, Zoetis launched Simparica Trio, a parasiticide for dogs with, or at risk from mixed external and internal parasitic infestations.
Boehringer Ingelheim
Boehringer Ingelheim’s strong focus on R&D and investments in collaborations, partnerships, and acquisitions have ensured its position in the market. It focuses on expansions to strengthen its geographic footprint, presence, and growth. For instance, in August 2019, Boehringer opened a Health Management Center in China. The center integrates animal disease and health diagnostics as well as monitoring tools to maintain and enhance animal health.
Merck
Merck focuses on a broad range of animals, investments in collaborations & partnerships, and comprehensive quality systems and processes are driving its growth in the market. It focuses on acquisitions, expansions, and collaborations, as well as product launches. In March 2017, Merck Animal Health (known as MSD Animal Health in the US and Canada) acquired Vallée S.A., a leading privately held producer of animal health products in Brazil. This helped Merck offer a comprehensive portfolio of products for livestock animals and expand its reach in Latin America.
Elanco
Elanco Animal Health is one of the largest players in the APAC animal health market. To remain competitive and grow, the company focuses on expanding and deepening its partnerships with existing customers, enhancing operations and quality, enhancing capabilities and expertise, and developing innovative products. The company pursues growth through a number of organic and inorganic growth strategies such as product launches, expansions, acquisitions, agreements, partnerships, collaborations, and divestitures, to broaden its product portfolio and grow its existing business segments. For instance, in August 2019, Elanco acquired Bayer’s Animal Health Business. This acquisition doubled Elanco’s companion animal business and advanced the company’s portfolio mix by creating a balance between its food animal and companion animal segments.
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Increasing livestock population to drive the growth of feed additives market in Asia Pacific in 2019
Based on product, the APAC animal health market is segmented into parasiticides, antimicrobials and antibiotics, vaccines, feed additives/nutritional products, growth promoters, and other pharmaceuticals. In 2019, feed additives accounted for the largest share of the APAC animal health market. The largest share of this segment can primarily be attributed to the widespread popularity of these products among veterinarians and their increased adoption among livestock producers.
The food-producing animal segment accounted for the largest market share in 2019
Based on animal, the APAC animal health market is categorized into food-producing animals and companion animals. In 2019, food-producing animals accounted for the largest share of the APAC animal health market. The larger share of this segment is due to the increasing livestock population and rising demand for animal-derived food products.
Animal Farms was the largest end-user for APAC animal health market in 2019
Based on end-user, the market has been classified into veterinary hospitals & clinics, animal farms, and homecare. In 2019, the animal farms segment accounted for the largest market share of 68% of the APAC animal health market. This is because of the large population of livestock in emerging Asia Pacific countries, growing demand for animal-derived food products, and rising incidences of zoonotic diseases.
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