Middle East & Africa Animal Healthcare Market Size Is Estimated to cross US$ 5,521.4 Million in 2027, Owing to Increasing Demand for Animal-based Products
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
According to The Middle East and Africa Animal Healthcare Market Report, by Product Type (Vaccines, Pharmaceuticals, and Feed Additives), By Animal Type Livestock Animals (Bovine, Porcine, Ovine, and Poultry), and Companion Animals (Canine and Feline), by Route of Administration (Oral, Topical, and Parenteral), by Distribution Channel (Veterinary Hospitals & Clinics, Retail Pharmacies, and Online Pharmacies), and by Region (Middle East and Africa), published by Coherent Market Insights, the Middle East and Africa animal healthcare market was valued at US$ 3,332.0 million in 2017, and is projected to exhibit a CAGR of 5.5% over the forecast period (2018 – 2026).
Increasing demand for animal-based products is expected to propel growth of the Middle East and Africa animal healthcare market over the forecast period. For instance, according to the U.S. Department of Agriculture (USDA), chicken meat production in Saudi Arabia was expected to reach 650,000 MT in 2018 and 700,000 MT in 2019. Moreover, government initiatives to enhance animal healthcare is also expected to aid in growth of the market. For instance, according to the Ministry of Agriculture and Fisheries, Government of Oman, US$ 77.0 Mn was invested for development of one of the biggest vaccine production facilities in Oman to provide veterinary medicines, livestock serum, and vaccines for the treatment and prevention of diseases in animals. The facility is expected to be completed by 2019.
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Increasing population of livestock animals is expected to propel growth of the Middle East and Africa animal healthcare market over the forecast period. For instance, according to the Food and Agricultural Organization of the United Nation (2018 data), over 80% of the global sheep and goat population is present in Africa, Middle East, and Asia Pacific. Moreover, increasing investment from various organizations for enhancing animal healthcare is also expected to aid in growth of the market. For instance, in October 2018, The African Livestock Productivity and Health Advancement (A.L.P.H.A.), in collaboration with Zoetis, received US$ 14.4 Mn grant from the Bill & Melinda Gates Foundation.
Among product type, feed additives segment is expected to account for the largest market share in the Middle East and Africa animal healthcare market in 2018. This is attributed to increasing production of poultry in the region. For instance, according to FAO (The Food and Agricultural Organization of the United Nations) reports, Saudi Arabia is the largest producer of poultry in the Middle East.
Among animal type, the livestock animal segment is expected to account for the largest market share in the Middle East and Africa animal healthcare market in 2018. This is attributed to high population of livestock animal in the region. For instance, Sudan in North Africa has one of the largest livestock population in Africa. According to the Food and Agricultural Organization of United Nations report published in 2019, livestock accounts for around 61% of Sudan’s’ agricultural GDP.
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Among route of administration, the oral segment is expected to account for the largest market share in the Middle East and Africa animal healthcare market in 2018. This is attributed to several benefits of oral route of administration such as high palatability of drug and ease of administration.
Among distribution channel, the veterinary hospitals & clinics segment is expected to account for the largest market share in the Middle East and Africa animal healthcare market in 2018. This is attributed to high incidence of zoonotic diseases in livestock and companion animals. For instance, according to the Ministry of Agriculture and Rural Development of Israel, in 2016, there were 30 cases of rabies, which increased to 60 cases in 2018.
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in January 2017, Elanco Animal Health received FDA approval for Itrafungol for dermatophytosis of cats caused by Microsporum canis.
Key players in the market are also focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in 2018, Boehringer Ingelheim Animal Health collaborated with Kamraan Veterinary Medicine Co. Group, a veterinary medicine wholesaler and retailer in U.A.E, for marketing veterinary medicines. Moreover, in 2018, Boehringer Ingelheim launched LastMile program in partnership with Global Alliance for Livestock Veterinary Medicines (GALVmed) to respond to critical challenges in animal health of sub-Saharan Africa region.
Similarly, in March 2017, Boehringer Ingelheim Animal Health and Novozymes entered into a strategic agreement for development and commercialization of probiotic products for poultry production.
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- The Middle East and Africa animal healthcare market is expected to exhibit a CAGR of 5.5% over the forecast period
- Key players operating in the Middle East and Africa animal healthcare market include Merck & Co., Inc., Zoetis, Boehringer Ingelheim International GmbH, Ceva, Bayer AG, Elanco, Evonik Industries AG, and Archer Daniels Midland Company
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