Market Profile

The animal health market includes veterinary pharmaceuticals, biologicals and medicinal feed additives. It does not include nutritional feed supplements (vitamins, amino acids, etc.) or pet food (Source: PJB Publications Ltd , Pub Time: 2003/11).

The animal health industry meets the needs of farmers, pet owners and their animals by providing a wide range of medicines, vaccines, and other animal health products. These are used both therapeutically, to treat specific illnesses, and prophylactically, to prevent disease occurrence or recurrence.

The animal health market comprises five main product groups: parasiticides, biologicals (vaccines), anti-invectives, medicinal feed additives and other pharmaceuticals.

2008 Animal Health Industry, Source:Vetnosis (2008)

Nutraceuticals is one of the most dynamic sectors of the animal health industry to emerge over the last decade. Nutraceuticals are defined as 'non-drug substances, which are produced in a purified form and given orally to an animal in order to maintain or improve its health and well-being.' They consist of food or parts of food that have a health or medical benefit, including - in some definitions - the prevention and/or treatment of disease.The market was worth $870 million in 2001 and is predicted to double in value over the next five years for the following reasons:

Development costs for unregulated nutraceutical products are only 10-20% of those for conventional pharmaceuticals

Nutraceuticals are aimed primarily at companion animals, the major species growth market over the last decade

(Source : NUTRACEUTICALS FOR THE ANIMAL HEALTH INDUSTRY Pub Time: 2002/10).

Species

The world animal health market in 2004 was dominated by products for use in food animals (also called “farm or production animals”) representing approximately 60% of total world sales. Sales of products for companion animals have grown significantly since 1996 and now account for over 40% of total sales.

(Source: 2008 Animal Health Industry, Source Vetnosis)

Market Trends

2008 Animal Health Industry, Source:Vetnosis (2008)