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The Indian veterinary healthcare market was valued at approximately USD 1,169.8 million in 2021, and it is expected to reach USD 1,856.3 million by 2027, registering a CAGR of more than 7.70% during the forecast period, 2022-2027
The COVID-19 pandemic has been continuing to transform the growth of various markets, as the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. In addition, supply disruption and medicine shortages of veterinary medicines had been observed in several countries, primarily due to the temporary lockdowns of manufacturing sites, export bans, and increased demand for medicine, for the treatment of COVID-19. Hence, the market is anticipated to be impacted during the pandemic due to the reduced veterinary visits, along with the shortage of veterinary medicines, during the outbreak of COVID-19
Zoonotic diseases are naturally transmitted from animals to humans due to the consumption of contaminated food and water and exposure to the pathogen during preparation, processing, or by direct contact with infected animals or humans. Zoonotic diseases are caused by microorganisms, like viruses, bacteria, parasites, and fungi. Microbes can cause different types of diseases in humans and animals, ranging from mild to serious infections, and can even lead to death. As per the article published by the Indian Journal of Community Infection 2020, by Sanjiv Kumar, in India, 13 zoonoses are the cause of 2.4 billion cases of human disease and 2.2 million deaths per year. Among the developing countries, India has the highest zoonotic disease burden, with widespread illness and death. Hence, owing to these factors, the market is expected to grow in the forecast period.
The market is largely driven by the approval of new products related to the treatment of animal disorders. In September 2019, the Prime Minister of India inaugurated a livestock vaccination scheme with INR 13,343 crore aimed at controlling livestock diseases, especially foot and mouth disease (FMD) and brucellosis. In addition, in March 2020, Wiggles, an Indian pet care startup, launched online veterinary consultation for pets across India. In January 2019, under the 'Animal Health and Welfare Policy 2018, the Delhi government launched its first 24x7 veterinary hospital to provide extended care to companion and farm animals, which will likely boost the market.
Scope of the Report
As per the scope of the report, veterinary healthcare can be defined as the science associated with the diagnosis, treatment, and prevention of diseases in animals. The increasing importance of the production of livestock animals is generating growth in the veterinary healthcare market. The Indian veterinary healthcare market is segmented by product (therapeutics (vaccines, parasiticides, anti-infectives, medical feed additives, and other therapeutics), diagnostics (immunodiagnostic tests, molecular diagnostics, diagnostic imaging, clinical chemistry, and other diagnostics), and animal type (dogs and cats, horses, ruminants, swine, poultry, and other animals). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
|By Animal Type|
|Dogs and Cats|
Key Market Trends
The Vaccine Segment is Expected to Have the Highest Growth Rate Over the Forecast Period
India has been in lockdown and has suspended trade with other countries and implemented travel restrictions, which affected the import and export activities of veterinary medicines and diagnostics, leading to a decline in sales of many products. Supply disruption and medicine shortages of veterinary medicines have been observed in several regions due to the temporary lockdowns of manufacturing sites, export bans, increased demands for medicine for the treatment of COVID-19, and the stockpiling of medicines by individuals. However, the government has been taking up measures to mitigate the supply of medicines and veterinary practices during the COVID-19 pandemic. For instance, in March 2020, the Government of India stated that all states must ensure that medical help for animals is treated as an essential service, which does not get suspended during COVID-19 lockdowns across the country.
Vaccines are comprised of viruses, bacteria, or other disease-causing organisms that have been killed or altered so that they cannot cause any disease, thus, boosting immunity. Vaccines are being manufactured that contain genetically engineered components derived from those disease agents. The vaccines segment is expected to be driven by innovations in vaccines, growing awareness of animal health, increasing investments by government bodies and associations, increasing demand for animal protein, including milk, meat, eggs, and fish, and rising healthcare expenditure for companion animals.
In May 2021, Hyderabad-based Indian Immunologicals Limited (IIL) launched Raksha Class, a classical swine fever (CSF) vaccine, which is a unique cell culture technology-based vaccine for pigs, developed in collaboration with the Indian Veterinary Research Institute (IVRI), Bareilly.
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The Indian veterinary healthcare market is moderately competitive and consists of several major players, such as Boehringer Ingelheim GmbH, Elanco Animal Health, IDEXX Laboratories Inc., Merck & Co. Inc., Vetoquinol SA, Virbac, and Zoetis Inc. These companies are primarily focusing on various growth strategies, such as collaborations, partnerships, agreements, mergers, and acquisitions, in order to enhance their market presence.
- In May 2021, Boehringer Ingelheim India launched its poultry vaccine VAXXITEK HVT+IBD, an innovative recombinant single-shot vaccine for ensuring the life-long protection for all types of production chickens, namely, broiler, layer, and breeder.
- In December 2021, Fujifilm India Pvt. Ltd, a pioneer in medical imaging and diagnostic technologies, recently joined hands with A’alda Vet India Pvt. Ltd to boost healthcare facilities for pets. As part of the partnership, Fujifilm India will provide innovative medical and screening devices to DCC (Dogs, Cats, and Companions) animals.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advanced Technology Leading to Innovations in Animal Healthcare
4.2.2 Risk of Emerging Zoonosis
4.3 Market Restraints
4.3.1 Use of Counterfeit Medicines
4.3.2 Increasing Costs of Animal Testing and Veterinary Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Product
5.1.1 By Therapeutics
18.104.22.168 Anti Infectives
22.214.171.124 Medical Feed Additives
126.96.36.199 Other Therapeutics
5.1.2 By Diagnostics
188.8.131.52 Immunodiagnostic Tests
184.108.40.206 Molecular Diagnostics
220.127.116.11 Diagnostic Imaging
18.104.22.168 Clinical Chemistry
22.214.171.124 Other Diagnostics
5.2 By Animal Type
5.2.1 Dogs and Cats
5.2.6 Other Animals
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Boehringer Ingelheim GmbH
6.1.2 Elanco Animal Health
6.1.3 IDEXX Laboratories Inc.
6.1.4 Merck & Co. Inc.
6.1.7 Zoetis Inc.
6.1.8 Zydus Cadila
6.1.9 Hester Biosciences Limited
6.1.10 Indian Immunologicals Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The India Veterinary Healthcare Market market is studied from 2019 - 2027.
What is the growth rate of India Veterinary Healthcare Market?
The India Veterinary Healthcare Market is growing at a CAGR of >7.78% over the next 5 years.
What is India Veterinary Healthcare Market size in 2019?
The India Veterinary Healthcare Market is valued at 1169 Million USD in 2019.
What is India Veterinary Healthcare Market size in 2027?
The India Veterinary Healthcare Market is valued at 1856 Million USD in 2027.
Who are the key players in India Veterinary Healthcare Market?
Boehringer Ingelheim GmbH , Zoetis Inc., Merck & Co. Inc., Elanco Animal Health, Vetoquinol are the major companies operating in India Veterinary Healthcare Market.