The veterinary care market ecosystem includes suppliers and end-users that have a major impact on the industry. Huge demand is created by the veterinarians and authorities that work for animal welfare. Animal welfare authorities undertake several initiatives, such as establishing animal rescue centers that increase the demand for veterinary products and services. Even the regional authorities work collaboratively with the veterinarians to improve the health of farm animals as well as companion animals that further proves beneficial for market growth.

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Key Market Players:

The leading players in the animal treatment market include Zoetis (US), Merck (US), Boehringer Ingelheim (Germany), Elanco (US), Ceva (France), Phibro Animal Health Corporation (US), Virbac SA (France), IDEXX Laboratories, Inc., Neogen Corporation (US), Heska Corporation (US) and others.

Growth Strategies Adopted:

These players undertake several strategic initiatives such as mergers, acquisitions, new product launches, and geographical expansions that helps them in sustaining market competition.

The strategic initiative includes mergers and other inorganic growth strategies. Companies such as Elanco, Zoetis, and others acquire a veterinary business portfolio of niche veterinary companies that are focused on particular product production. For instance, Elanco acquired Bayer that has helped Elanco to expand its product portfolio, thereby enhancing the overall profitability of the company. Several other companies consider expanding their existing business in different geographies that have potential demand.

Merck is one of the leaders in the veterinary industry and has acquired considerable market share for the past few years. Moreover, it has maintained its prominent position by introducing new products to its existing portfolio.

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Livestock animals such as cattle and poultry are expected to receive maximum medicalization in the coming years

Livestock animals such as cattle and poultry are expected to experience higher medicalization rates during the forecast years. In emerging economies such as the Philippines and Vietnam, earlier, poultry health was neglected, and owners used to discard the chickens in bulk during a virus outbreak. Similar was the condition of a few cattle farms. Unorganized farms were often neglected, and that hampered the overall meat production in such countries.

Latin America veterinary care market will experience considerable growth during the forecast years, by region

Latin America is one of the regions that has experienced significant growth in animal health space for the past few years. Countries such as Brazil and Argentina have shown potential demand for veterinary products and services.

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