World Animal Health Markets

Summary

The world market for animal health products was worth US$17.4 billion in 2005. The objective of this report is to provide an overview of the global market in terms of structure and recent growth, and to examine in more detail 15 national markets which, together, generate some 85% of sales in the sector.
For the purposes of the study, the animal health products market is defined as a sector spanning veterinary pharmaceuticals, biologicals and medicated feed additives. It does not include nutritional supplements (vitamins, amino acids, etc.) or pet food, sales of which have been stripped out of calculations unless otherwise noted in text applicable to individual markets.
Each country profile contains background information on the state of the national economy and prospects for economic growth over the next five years. The importance of agriculture as a contributor to the GDP of individual countries is also noted, while statistics on livestock and companion animal populations and food animal production are presented, along with an analysis of recent trends.

These introductory sections are followed by an analysis of the national market for animal health products. This spans information on market size and recent development, market structure by product segment and species, and a review of leading companies operating in the country. Finally, prospects for future growth of each market are reviewed. Taking account of the major drivers and constraints expected to affect individual markets, compound annual growth rates have been predicted for all of the 15 countries through the second half of the decade. Forecast market values in 2010 are included in the final section of each profile, followed by a more detailed analysis of the main factors expected to affect rates of growth in the next five years.
Information included in the report has been collected from a broad range of sources, which are identified where relevant. Economic information was obtained from national government institutions, while economic forecasts are based on latest predictions published by the International Monetary Fund's economic analysis unit. Statistics on livestock numbers and production were obtained variously from the relevant Ministries of Agriculture, the European Union's statistical office, Eurostat, the US Department of Agriculture's foreign agricultural statistics bureau, and the FAO.

Animal health market figures were obtained from national industry association audits where possible. For countries where sales are not audited on a regular basis, or where figures for 2005 were not yet available, information on the size, structure and recent growth of individual markets was obtained from local market analysts or executives within companies operating in a particular market. Sources are identified where appropriate, but some contributors did not wish to be identified.
All future market values are the author's own forecasts. For comparative purposes these have been converted to US dollars at annual average rates of exchange prevailing in 2005.

Main findings

More than 85% of global animal health sales are generated in 15 major markets. The US is the dominant market in the sector, generating 36% of the entire global total. No other national market is responsible for a share of more than 7%.
The structure of individual markets varies widely, reflecting a combination of factors such as climate, the prevalence of particular animal diseases and the relative importance of individual species to national livestock agriculture. Products for use in companion animals are responsible for over half of all sales in some developed markets such as the US and UK, but generate less than 5% of sales in emerging markets such as China and India, for example.
Global market growth is forecast at a compound annual rate of 4.5% during the second half of this decade, driving sales up to almost US$21.7 billion in 2010. Sales in China will rise at a CAGR of 8% during the forecast period, while market value in Brazil will increase by 6% a year. Most developed markets will be considerably more subdued, however, with growth in Japan, Australia and most major European countries forecast at rates well below the global average.

The US will remain the animal health industry's main growth engine, with sales there forecast to rise at a compound annual rate of 5%. The US will be responsible for 40% of global market growth, and will reach a value of US$8 billion by 2010. China will cement its position as the world's second largest market for animal health products, while Brazil will replace France as the sector's third biggest market.

Contents

• Chapter 1 The World Market
• Chapter 2 Australia
• Chapter 3 Brazil
• Chapter 4 Canda
• Chapter 5 China
• Chapter 6 France
• Chapter 7 Germany
• Chapter 8 India
• Chapter 9 Italy
• Chapter 10 Japan
• Chapter 11 Mexico
• Chapter 12 The Netherlands
• Chapter 13 South Korea
• Chapter 14 Spain
• Chapter 15 UK
• Chapter 16 USA