The APAC animal health Market by product (Parasiticides (Ectoparasiticides), Antimicrobial & Antibiotic, Vaccines, Feed Additive( Vitamin, Amino Acids, Antioxidant), Growth Promoter) Animal (Livestock, Companion), End-user (Hospitals) - Forecast to 2025", is projected to reach a value of USD 22.1 billion by 2025 from USD 15.6 billion in 2020, at a CAGR of 7.2% during the forecast period. Factors such as the rapid rise in livestock population, increasing awareness about animal health, and rising frequency of animal disease outbreaks are expected to drive the growth of the APAC animal health market. This study analyzes the APAC animal health market based on their product type, animal type, and end-user.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=106215485

Drivers: Rising demand of animal-derived food products

According to FAO, South Asia is one of the major regions for dairy production and accounted for 20–25% of the global milk production in 2019. In this region, India was the largest producer and consumer of milk, followed by China and Pakistan. In 2020, the consumption of meat in India was found to be over 3.9 million metric tons; by 2030, this is expected to increase to 145.7 million metric tons.

China accounted for the largest share of total pork, beef, and poultry meat consumption in the Asia Pacific region in 2019. The overall consumption of animal-derived food products is projected to increase by 2030.

Restraints: Shift towards vegetarian diet

There is a significant rise in the prevalence of obesity and other chronic disorders. Therefore, several people are shifting toward a vegetarian diet from a predominantly non-vegetarian diet. The prevalence of obesity has increased more than twofold since 1980. According to a journal published by Development Asia in 2018, two of five adults in the Asia Pacific region are found to be overweight or obese, and it is considered to be home to the largest absolute number of obese people, about 1 billion.

The prevalence of obesity in Asia Pacific ranges from less than 5% in India to 60% in Australia. Although the prevalence in China is a third of that in Australia, the increase in prevalence in China over the last 20 years was 400% compared to 20% in Australia.

Opportunities: Lucrative growth opportunities in India an China

Over the last few years, companion animal ownership has experienced steady growth, especially in emerging markets such as China and India. Rapid urbanization and growing disposable incomes are some of the key factors driving pet ownership in these countries. Many pet owners in these countries are now willing to spend more on pet care, specifically healthcare services.

These countries have robust livestock markets. According to a Dairy Tech India article, India is emerging as the world's second-largest poultry market, with an annual growth of more than 14%. India is the world's largest milk producer. According to the US Meat Export Federation, China ranks first in the world for pork consumption. The consumption of pork increased from 28.3 kg per person in 2012 to 34.2 kg per person in 2019.

Challenges: Growing resistance to parasites and antibodies

The prolonged use of specific parasiticides and antibiotics generates parasite resistance, which is a burning issue in the animal health market. Several farmers and pet owners tend to decrease the dosage of parasiticides or change the parasiticides used to combat resistance. However, this may prove detrimental in the long run and result in the development of multi-drug resistant parasite species.

Inquiry Before Buying @

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=106215485

Increasing livestock population to drive the growth of feed additives market in Asia Pacific in 2019

Based on product, the APAC animal health market is segmented into parasiticides, antimicrobials and antibiotics, vaccines, feed additives/nutritional products, growth promoters, and other pharmaceuticals. In 2019, feed additives accounted for the largest share of the APAC animal health market. The largest share of this segment can primarily be attributed to the widespread popularity of these products among veterinarians and their increased adoption among livestock producers.

The food-producing animal segment accounted for the largest market share in 2019

Based on animal, the APAC animal health market is categorized into food-producing animals and companion animals. In 2019, food-producing animals accounted for the largest share of the APAC animal health market. The larger share of this segment is due to the increasing livestock population and rising demand for animal-derived food products.

Animal Farms was the largest end-user for APAC animal health market in 2019

Based on end-user, the market has been classified into veterinary hospitals & clinics, animal farms, and homecare. In 2019, the animal farms segment accounted for the largest market share of 68% of the APAC animal health market. This is because of the large population of livestock in emerging Asia Pacific countries, growing demand for animal-derived food products, and rising incidences of zoonotic diseases.

View detailed Table of Content here@

https://www.marketsandmarkets.com/Market-Reports/asia-pacific-animal-health-market-106215485.html

Key Market Players:

The prominent players operating in this market include Boehringer Ingelheim (Germany), Zoetis Inc. (US), Elanco Animal Health (US), Merck & Co. Inc (US), Phibro Animal Health (US), Virbac (France), Vetoquinol S.A (France), Ceva Sante Animale (France), Dechra Pharmaceuticals Plc. (UK), Kyoritsu Seiyako (Japan), Tianjin Ringpu (China), China Animal Husbandry (China), and Jinyu Bio-Technology (China). These players adopted partnerships, agreements, and acquisitions to expand their presence in APAC animal health market.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™ or follow us on Twitter, LinkedIn and Facebook.