(PharmaNewsWire.Com, January 05, 2018 ) The Middle-East & Africa Veterinary Healthcare Market is valued at $2.7 billion market as of 2016 and is estimated to be a $3.75 billion market by 2021 with a tremendous CAGR of 6.8% in the review period. Veterinary medicines helps in diagnosing, treating and preventing diseases in animals. Veterinary medicine covers a wide range of animal species which includes both domestic and wild. With the increased production of livestock animals, there is a significant growth in the animal healthcare market. Stable economy and rising population, especially in the developing countries has resulted in increased demand for protein rich foods.
Rising awareness among people regarding animal health, few restraints regarding the drug approval for animal healthcare, increasing love for pets is expected to drive the veterinary healthcare market. Increasing number of foodborne diseases is also fueling the healthcare market for animals. However, the growth of market is restrained by the increasing antibiotics regulations and rising cost of animal testing.
Middle-East & Africa Healthcare market is categorized based on the animal type and products. Based on animal type, the market is analysed as companion animals and farm animals. Farm animals are further categorized as swine, cattle, sheep, fish and poultry. Whereas, companion animals are divided into cats and dogs. By product, it is segmented as feed additives, vaccines and pharmaceuticals. Feed additives are further segmented as medicine feed additives and Nutritional feed additives. Nutrition feed additives includes vitamins, amino acids and minerals. While, medical feed additives include probiotics, hormones, immune-modulators, prebiotics and enzymes. Pharmaceutical veterinary healthcare products comprises of endoparasiticides, ectoparasiticides, anti-inflammatories, endectocides, antibiotics and medicines for reproductive problems. On the basis of geography, Middle-East & Africa healthcare market is segmented as Saudi Arabia, UAE, Israel and others.
Some of the major companies covered in the report are Merck & Co., Inc., Bayer AG, BoehringerIngelheim GmbH, Cargill, Inc., Ceva Santé Animale, Novasep, Eli Lilly and Company, Koninklijke DSM N.V, Novartis AG, Nutreco N.V., Sanofi S.A., SeQuent Scientific Ltd., Virbac S.A., Vétoquinol S.A. and Zoetis Inc.
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