:: Animal Therapeutics and Diagnostics (HLC034A) ::

Healthcare

Animal Therapeutics and Diagnostics

Report Code: HLC034A, Published: June 2004

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REPORT HIGHLIGHTS

The total worldwide market for animal therapeutics and diagnostics was estimated at more than $15.6 billion in 2003 and by 2008 is likely to reach $19.6 billion, at an average annual growth rate (AAGR) of 4.7%.
Animal therapeutics, e.g., vaccines, pharmaceuticals, and feed additives, are valued at $15.1 billion, and rising at an AAGR of 4.7%.
Pharmaceuticals account for the largest percentage of revenues at nearly 54%.
Feed additives are the second largest market segment due to demand from the food animal producer segment.
Diagnostic products account for a smaller portion of the market with

Report Code: HLC034A, Published: June 2004, Analyst: Melissa Elder

INTRODUCTION

The animal health industry is responsible for maintaining the health and productivity of more than 3.3 billion livestock and 16 billion poultry worldwide, and ensuring the wholesomeness and abundance of the food they produce. In addition, the industry must cater to the health and well being of companion animals. Despite this, the human healthcare market is 35 times larger than the combined market for all nonhuman species.

The reality is that the global animal health market is very complex, operating under stringent and increasingly strict regulations similar to those for human health, yet the market opportunities are considerably smaller. In an increasingly risky environment for new product development, the difference between future success and failure usually lies in successfully identifying the next growth segment, developing the right product candidates and being the first to market. Despite all these risks, the industry continues to grow.

This important BCC report provides an overview of products found in this market, and detailed market analyses and competitive environments worldwide. A challenging aspect of the market is within the animal food industry as consumers continue to express concern about the conditions under which their daily food is produced. Consumers are becoming more health conscious and demanding healthy and balanced diets. By implementing a feeding plan that provides vitamins and supplements, consumers enjoy additional nutritional benefits. Additionally, healthy feeding results in minimized impact on the environment as animals produce smaller amounts of manure.

SCOPE OF STUDY

The report contains:

a thorough evaluation of the animal therapeutic and diagnostic markets

market coverage worldwide, with special emphasis on U.S. trends and statistics

coverage of four segments: vaccines, pharmaceuticals, feed additives and diagnostics (point-of-care products are considered rapid tests or kits)

detailed information based on product categories, product use, forecasts and competitive analyses for each segment.

METHODOLOGY

The information for this BCC, Inc. report was obtained through primary and secondary data-collection methods. Primary methods included interviews with nearly 100 key executives, product managers, clinical specialists and other related key personnel involved in the animal therapeutic and diagnostic industry. Secondary methods included published literature, investment reports, company literature, and various journals that have emphases on animal health.

Market data for this report pertains to the worldwide market in U.S. dollars at the manufacturers' level. The base year of the report is 2003, with historical data provided for 2001 and 2002, and forecast data provided for 2008. Historical, base year and forecast data are provided for each market segment of the report. Competitor market share estimates are provided for each market segment for the 2003 base year.

ANALYST CREDENTIALS

Melissa Elder is an experienced healthcare market analyst specializing in prescription and over-the-counter pharmaceuticals and various healthcare related topics. Ms. Elder has worked in the healthcare field for the past eight years and has a wide range of experience.

Report Code: HLC034A, Published: June 2004, Analyst: Melissa Elder