Middle East and Africa Animal Healthcare Market to Surpass US$ 5,381.5 Million by 2026 - Coherent Market Insights

Published On : Aug 30, 2019

The Middle East and Africa Animal Healthcare Market, 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), 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), as highlighted in a new report published by Coherent Market Insights.

Increasing demand for animal-based products and increasing government initiatives to provide improved animal healthcare augments the market growth

Increasing demand for animal-based products for dietary use in the Middle East and Africa is expected to propel growth of the market over the forecast period. The significant increase in animal farming in the Middle East and Africa region has led to rising demand for more efficient animal health services for improving food safety. According to the United States 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.

Increasing government initiatives to provide improved animal healthcare in the Middle East and Africa region and product approvals for treatment of zoonotic diseases in animals are expected to drive growth of the market. 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.

Moreover, increasing product approvals and rising awareness of animal healthcare is expected to boost the market growth. For instance, in January 2017, Elanco Animal Health received FDA approval for Itrafungol for dermatophytosis of cats caused by Microsporum canis.

Browse 48 Market Data Tables and 32 Figures spread through 235 Pages and in-depth TOC on ‘Animal Healthcare Market’- Middle East and Africa Forecast to 2026, by Product Type (Vaccines, Pharmaceuticals, and Feed Additives),by Animal Type Livestock Animal (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)

To know the latest trends and insights prevalent in the Middle East and Africa animal healthcare market, click the link below:

https://www.coherentmarketinsights.com/market-insight/middle-east-and-africa-animal-healthcare-market-3019

Furthermore, increasing number of livestock animals in Middle East and Africa is expected to drive the market growth. In 2018, according to the Food and Agricultural Organization of the United Nation reports published, over 80% of the global sheep and goat population are present in Africa, Middle East, and Asia Pacific.

Key players in the market are focusing on partnerships and acquisitions to enhance 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.

Key Takeaways of the Middle East and Africa Animal Healthcare Market:

  • The Middle East and Africa animal healthcare market is expected to exhibit a CAGR of 5.5% over the forecast period due to increasing collaboration between manufacturers and local authorities to promote animal healthcare in Middle East and Africa region. 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 held a dominant position in the Middle East and Africa animal healthcare market in 2018. Increasing demand for protein from animal source along with increasing collaboration for development of nutritional products for animals is expected to drive the feed additives segment growth over the forecast period. 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 held dominant position in the Middle East and Africa animal healthcare market in 2018 due to increasing number 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.
  • Among route of administration, the oral segment held a dominant position in the Middle East and Africa animal healthcare market in 2018. The major advantages of oral route of administration are high palatability of drug, less painful for animals, and ease of administration. The growth of this segment is attributed to increasing strategic collaborations between manufacturers for production of efficient animal health products. In March 2017, Boehringer Ingelheim Animal Health and Novozymes entered into a strategic agreement for development and commercialization of probiotic products for poultry production.
  • Among distribution channel, the veterinary hospitals & clinics segment held a dominant position in the Middle East and Africa animal healthcare market in 2018, owing to increasing prevalence of zoonotic diseases in livestock and companion animals in Middle East and Africa regions. 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.
  • 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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