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APAC Animal Healthcare Market Size to Worth Over $56 Bn By 2026

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According to the Graphical Research new growth forecast report titled “Asia Pacific Animal Healthcare Market Share By Product, Animal Type, Distribution Channel, Industry Analysis Report, Regional Outlook”, Estimated To Exceed USD 56.0 Billion By 2026. Increasing demand for online veterinary pharmacies in the Asia Pacific region will propel growth of the market. The advancements in healthcare systems provide owners with pet cams and automated feeders that make pet care easy. Other features included in app such as Wag and DogVacay that aid in pet walkers, sitters and helps to reunite pets by using facial recognition for lost ones. The veterinary online pharmacies such as Alvs vet care, Marshalls pet zone, Savavet, and vet India amongst others provide vaccinations, supplements, injections, drugs, pet care products and many more. Hence, aforementioned factors will augment market growth in the future.

Rising government initiatives in pet care will augment the growth of market. The insurance schemes in Asian countries such as Thailand, Sri Lanka, Nepal, among others contribute to augment growth of the market. For instance, the farmers ask for loan or credit from the bank for insurance of their livestock animals. Also, associations target dairy production systems by providing nutrition and vaccines to maintain health of the animals. 

However, rising cost of animal healthcare drugs will hinder growth of animal healthcare market in the Asia Pacific region.

Pharmaceuticals segment held significant market share in 2019 and is estimated to witness around 5.5% CAGR over forecasting timeframe. The increasing use of antibiotics for purpose of therapeutic veterinary drugs and growth promoters will boost animal healthcare market growth. Also, the increased production of livestock animals and the growing awareness about animal health contribute to drive the market for pharmaceuticals in Asia Pacific region.

Companion animals were valued over USD 32,000.0 million in 2019. This is attributed to increasing number of pets for security, and loneliness in the region. Also, rising emphasis on animal healthcare and vaccines along with rise in income levels among individuals drives the market for companion animals.

Distributors account the largest market size to reach over USD 24,500.0 by 2026. This is attributed to increasing trend of animal care and nutrition in the region. Also, thorough product and service portfolio offered by distributors enhance segmental growth in the region.

India animal healthcare market is estimated to experience around 5.7% CAGR during the forecasting years. The increasing initiatives by government authorities compels growth of the market. For instance, the Animal Welfare Board of India (AWBI) promotes animal welfare and is country’s largest funding organization. The organization provides grants, used for maintenance of sheltered animals, rescued animals, construction of shelter houses, birth control & immunization.

Major market players in the market are Bayer AG, B. Braun Melsungen AG, Elanco, IDEXX Laboratories, among others. These market players have undertaken strategies such as product improvisations and collaborations and partnership to maintain the market competition. For instance, in March 2017, Merck Animal Health acquired Vallee S.A. This acquisition was envisioned to develop increased product offering and improve penetration in the region.

Asia Pacific animal healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:

Asia Pacific Animal Healthcare Market Share, By Product, 2015-2026 (USD Million)

  • Pharmaceuticals
    • Drugs
      • Antiparasitic
      • Anti-inflammatory
      • Anti-infectives
      • Others
    • Vaccines
      • Modified live vaccines (MLV)
      • Killed inactivated vaccines
      • Others
    • Medicated feed additives
      • Antibiotics
      • Vitamins
      • Amino acids
      • Enzymes
      • Antioxidants
      • Prebiotics and probiotics
      • Minerals
      • Others
  • Medical Devices
    • Veterinary Diagnostic Equipment
    • Anesthesia Equipment
    • Patient Monitoring Equipment
    • Veterinary Surgical Equipment
    • Veterinary Consumables
    • Others
  • Veterinary Services

Asia Pacific Animal Healthcare Market Size, By Animal Type, 2015-2026 (USD Million)

  • Livestock animals
    • Poultry
    • Swine
    • Cattle
    • Fish
    • Others
  • Companion animals
    • Dogs
    • Cats
    • Horses
    • Others

Asia Pacific Animal Healthcare Market Value, By Distribution Channel, 2015-2026 (USD Million)

  • Pharmacies
  • Online
  • Distributors

The above information is provided for the following region and countries:

  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Taiwan
    • Malaysia
    • Indonesia
    • Thailand
    • Singapore
    • Philippines
    • Vietnam