Global Markets for Animal Therapeutics and Diagnostics
The total market for animal therapeutics and diagnostics was $30 billion in 2011, up from $25 billion in 2008. By 2016, this market is likely to exceed $42 billion, with a five-year compound annual growth rate (CAGR) of 7.2% from 2011 through 2016.
SCOPE OF REPORT
This BCC Research report is designed to be a helpful business tool that will provide a thorough evaluation of the animal therapeutic and diagnostic market. The geographical scope of this study is worldwide, with special interest for markets, trends and statistics by key geographical regions such as the United States, European countries and Brazil, Japan and Australia. The report identifies markets in four segments: vaccines, pharmaceuticals, feed additives and diagnostics. For the purpose of this study, diagnostics includes products that are used at the point of care and are considered rapid tests or kits. Each market segment provides detailed information based on product categories, use of products, forecasts and competitive analyses.
MELISSA ELDER is a healthcare market analyst specializing in treatments, medical equipment and devices. As a research analyst for more than 20 years, she also worked in medical training and advanced medical technologies. She holds a B.S. degree in business management and is pursuing an MBA in health care management from California Coast University.
- The global market for animal therapeutics and diagnostics is expected to be worth $24.1 billion in 2008, up from $22.3 billion in 2007. This should increase to $33.0 billion in 2013, a compound annual growth rate (CAGR) of 6.5%.
- The animal therapeutics segment dominates the market, generating $21.8 billion in 2007 and an estimated $23.6 billion in 2008 and $32.4 billion in 2012, a CAGR of 6.6%.
- Diagnostics for animals were worth $474 million in 2007. This should increase to $498 million in 2008 and $624 million in 2013, for a CAGR of 4.6%.
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