Published Date: 2021-11-24
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APAC Animal Healthcare Market size is poised to surpass USD 41.1 billion by 2027, according to a latest forecast report by Graphical Research.
Increasing government support for animals in the Asia Pacific region is positively stimulating the market growth. In 2017, over 3,500 dogs and cats were cured and vaccinated of numerous disorders through Chinese government’s animal welfare programs, funded by the Animals Asia Foundation. Government organizations comprising Australian Pet Welfare Foundation highly promotes animal health awareness campaigns and pet adoption. Further, surging focus on enhancing research capabilities to improve overall animal health across the region has boosted the market size. Several novel strategies are adopted by the government organizations in various countries in the Asia Pacific region. For instance, in 2020, the South Korea government planned to strengthen regulations in country for improved animal health and welfare.
The veterinary services segment is set to cross USD 13.7 billion by 2027 owing to the growing emphasis on veterinary services, increasing awareness pertaining to online veterinary consultation for animals, increasing use of livestock animals for various commercial purposes, etc. Various government and non-profit organization are working to increase the awareness pertaining to overall animal health and welfare are further predicted to spur the segmental revenue. Similarly, the incidence of various infectious diseases is considerably increasing among companion animals in several Asia Pacific countries. There has been a rising spending on animals to decrease the incidence of zoonotic disorders.
The livestock animals segment is anticipated to reach USD 17.6 billion by 2027 due to advent of novel technologies in animal healthcare, increasing meat production, etc. In 2019, production of meat was around 78 million tonnes that accounted for 50.55% of total production of meat. Moreover, as per the Australian Government, in 2018-19, 8.8 billion liters of milk was produced in Australia. Technological developments in molecular biology have augmented advancements in animal healthcare products. Furthermore, the demand for dairy products is also rising attributed to the surged health awareness, higher incomes, and rising population among others in the Asia Pacific region.
Browse detailed statistical insights from the report, “Asia Pacific Animal Healthcare Market Forecast 2027 By Product (Pharmaceuticals {Drugs [Antiparasitic, Anti-inflammatory, Anti-infectives], Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines], Medicated Feed Additives [Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals]}, Medical Devices {Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Veterinary Surgical Equipment, Veterinary Consumables}, Veterinary Services), By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}), By Distribution Channel (Pharmacies, Online, Distributors), Research Report, Country Outlook (China, India, Japan, Australia, South Korea, Taiwan, Malaysia, Indonesia, Thailand, Singapore, Philippines, Vietnam), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1342/asia-pacific-animal-healthcare-market
The online segment is projected to surpass USD 8 billion by 2027 attributed to several factors including ease of use for customers, decrease in distributors costs to large extent, technological advancements, etc. Nowadays, customers have highly adopted the suitability of purchasing online that will foster the market revenue. For instance, in 2017, online channel became the leading distribution channel in Asia-Pacific region. Furthermore, variables including faster buying process, product listing creation, cost reduction, affordable marketing, and flexibility for customers is anticipated to promote the segmental revenue. Thus, growing demand for online distribution channel for purchasing of animal healthcare products are expected to propel the market demand.
Japan animal healthcare industry is slated to exceed USD 5.8 billion by 2027 credited to the growing pet adoption, increasing demand for animal protein in human food, etc. In 2020, during the COVID-19 pandemic around 60,000 pets were adopted in Japan. In 2018, meat production increased to approximately 8.6% in Japan. Similarly, rising animal shelters, surging animal welfare organizations, and growing pet stores may drive the industry growth. Numerous government and non-government organization have implemented beneficial initiatives that can deliver safe, precise, and low-cost healthcare facilities for animals in Japan.
The APAC animal healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Animal Type
Asia Pacific Market, By Distribution Channel
The above information has been provided for the following countries:
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