North America: The Leader Of Animal Healthcare

As it is well known the U.S.A has a very strong healthcare system, it would not be a surprise to hear that it has an equally strong animal healthcare system. Particularly talking about North America, it would not be wrong to say that it loves animal more than any country in the world. This is not an overstatement, facts and figures mentioned in later part of this article will justify it. North America leads in literally every department of animal healthcare, be it vaccine, diagnostics, medicinal feed or anti-infective market. It not only stands first at present, but if the future is to be predicted, till the end of 2020 it would still be leading in almost every department.

The rationales behind it are, more pet owners willing to pay for veterinary care, the demand for supplements and other treatment options for companion animals is on the rise. Increasing consumer concern for where and how their food is produced is leading to a tougher scrutiny of feeding and rearing practices of farm animals. All the same, increased competition for cultivated land and scarcity of arable land could affect the animal healthcare market in terms of demand from livestock production.

Since recent past the Veterinary healthcare has shifted from providing producers with a set of tools for better livestock productivity to providing safer food sources for the end consumers. Such a shift in priorities, as a result of demand pressures, has played a key role in the rise of demand for this market. Increasing cases of zoonotic and foodborne diseases have prompted tougher regulations and testing procedures, especially in North America, prompting innovation in animal healthcare.

Now let’s have a look on the numbers to quantify and justify the statement made in beginning of the article. As per the latest report, the market for veterinary healthcare products and services in North America is slated to grow at a healthy CAGR to reach $8.6 billion by 2019 from $6.2 billion in 2014.The market is segmented on the basis of product and service offered. The vaccine market in the year 2014 was $3810 and is expected to grow with CAGR 4.86% to reach $4830 by the end of 2020. Anti-infective was second in the race with value of $xxxx million and would reach the mark of $ xxxx million by the end of 2020. The other markets excelling in this region are medicinal feed and paraciticides which are also growing with their own speeds.

Presently, the animal healthcare looks good for North America and considering the drivers and other growth factors, it is only going to get better.

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