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Indonesia Animal Health Market Outlook to 2019 - Rising Health Awareness for Pets and Meat Consumption to Drive Growth
Highlights
Future Growth of animal health market is expected to be led by animal feed additive products, followed by demand for pharmaceuticals and vaccines
Future Growth of animal health market is expected to be led by animal feed additive products, followed by demand for pharmaceuticals and vaccines
The animal feed additives market leader, Pt Charoen Pokphand is expected to maintain dominant position
Global brands such as Zoetis, Bayer and others are expected to compete with other players in the animal pharmaceuticals and vaccines industry.
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Ken Research announced its latest publication on “Indonesia Animal Health Market Outlook to 2019 –Rising Health Awareness for Pets and Meat Consumption to Drive Growth” which provides a comprehensive analysis of the animal health market in Indonesia. The report covers various aspects such as market size of animal health market, segmentation on the basis of animal feed additives, animal pharmaceuticals and animal vaccines.
The report also covers segmentation of animal feed additives and pharmaceuticals and vaccines market in different aspects such as segmentation on the basis of species, types of drug, type of product and import and export of animal feed additives as well as pharmaceuticals and vaccines in the market.
The report is useful for feed additives manufacturers, animal pharmaceutical and Vaccine companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
The Indonesia Animal Health market has witnessed growth in recent years on account of rising demand for feed additives and pharmaceuticals fueled by enhancing pet ownership, rising awareness and increasing meat consumption. The surge in growth is majorly originated from growth in animal feed additives segment.
The growth in animal health market has been largely led by the domestic factors such as supportive government policies, increasing demand and entry of new players in market.
The animal pharmaceutical and vaccines is comprised of large companies such as Zoetis which posses a large product portfolio of animal vaccines. The Indonesia animal health market revenues have grown at a CAGR of 7.4% from 2009-2014.
According to the research report, the Indonesia animal health market will grow at a considerable CAGR rate thus reaching USD 327.4 million by 2019 due to the increasing number of players, rising meat consumption and increasing awareness zoonotic diseases.
“Governmental reforms such as increased efforts towards animal health, strict regulation about the quality of products being produced, stringent regulation and norms for the feed additives, increased adoption of pets, are anticipated to give a boost to the rate of usage of animal feed additives as well as vaccination for animals.
Lack of infrastructure facilities, enhancing competition are few of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.
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