The similarities in the structure and functioning of body parts in humans and in animals increases the size of the animal therapeutics and diagnostics market. The rising number of pet adoptions across the globe, rising incidences of chronic diseases such as bovine spongiform encephalopathy, rising global meat consumption, and the rising incidences of pet obesity, especially in developed countries such as the U.S., are some of the growth drivers for the market.
The global animal therapeutics and diagnostics market is segmented on the basis of products into pharmaceuticals, feed additives, biological products, and diagnostics. The pharmaceutical product segment accounted for the largest market share in 2011, followed by the feed additives segment. In terms of revenue generation, the North American animal therapeutics and diagnostics industry was the market leader in 2011, followed by the European one.
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The market has a low barrier to entry owing to the fact that the products undergo relatively less complicated approval norms compared to human pharmaceutical products. Such a fact heightens the competitive rivalry factor for the market. Furthermore, the presence of a wide array of products keeps the bargaining power of buyers at a high level.
Some of the market players in this industry are Abaxis Inc., AUV Veterinary Cooperative, BASF Animal Nutrition (BASF SE), Bayer Animal Health, Pfizer Animal Health, Sanofi, Elanco Animal Health, Evonik Industries Ag, Heska Corp., Mosaic Co. (The), Novartis Animal Health Inc., DSM Nutritional Products Ltd., IDEXX Laboratories Inc., Merck & Co. Inc., Virbac SA, Boehringer Ingelheim Corp., and Novus International Inc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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